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A Foundation of Service; a Legacy of Generosity

Dave ’77 and Jeannine Shiveley

By Annie Rosello ’94

Dave and Jeannine Shiveley

Dave and Jeannine Shiveley

Retired Navy Captain and Flight Surgeon Dave Shiveley ’77 spent more than 30 years caring for naval aviators and their families. But his decades of military service were prefaced by years of community service and volunteerism, which Dave says started at Saint Michael’s and inspired him and his wife, Jeannine, to make a generous legacy gift to the College.

“I joined the Fire and Rescue Squad and was immediately indoctrinated into what it was like to unselfishly come to the aid and rescue of those in need,” explains Dave, who spent his summers at St. Mike’s to help keep the squad manned with a skeleton crew. “We all felt this was a small sacrifice, not being with family and friends at home, in exchange for the good will we brought to people’s lives and the good will we brought to the community.”

As Captain of the Rescue Squad his senior year, Dave has “no doubt the volunteer experience and life lessons that I learned at an early age—including compassion, loyalty, trust, adaptability and faith, among others—set me up for success in the future.”

Dave went on to receive his medical degree from St. George’s University School of Medicine in Grenada in 1982 and completed his internship in internal medicine at Mount Sinai Hospital in Hartford, Connecticut, in 1983.

That same year, he was commissioned in the Navy and commenced active duty. One of the highlights of Dave’s long and interesting career, which has taken him and Jeannine around the world, was serving as Chief Executive Agent for Global Patient Movement at the Department of Defense. How ironic that Dave started with a “small” patient movement system, St. Mike’s Rescue Squad, and ended up managing the largest airborne patient movement system on the planet.

Grateful for the strong foundation he received and fond memories he holds from his time at Saint Michael’s, Dave and Jeannine recently decided to make a legacy gift of $1,000,000 through their Living Trust.

“We realized we were blessed to have the resources to provide a number of scholarships to academically deserving high school students who otherwise couldn’t afford the cost of higher education,” he explained. “We felt this was an important service to Saint Michael’s and the kids who will benefit, since we firmly believe education is the key to economic and social freedom. Who knows—maybe some of these students will catch the service and volunteerism ‘bug’ that I did at St. Mike’s.”

Shiveley treasured learning from favorite professors, including Dr. Arthur Hessler for biology and Dr. Dominique Casavant for physics, both of whom always looked over his shoulder with encouragement. He also idolized Fire and Rescue founder Don Sutton, “the most wonderful life mentor and father figure to many of us,” who dedicated almost half his life to Saint Michael’s.

While Dave laughs about his fond memories of skiing, tubing down the Winooski River, rappelling in the Gorge, and ‘socializing’ at the Last Chance and Hannibul’s, he and Jeannine know that their generosity may very well create similar happy memories, tremendous opportunities, important mentors, and a lifelong sense of service that propels future Purple Knights to fulfill the Saint Michael’s vision: Do Well and Do Good.

Leading by example, Dave and Jeannine Shiveley have certainly lived out that maxim to the fullest.

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Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

Learn What Matters

A charitable bequest is one or two sentences in your will or living trust that leave to Saint Michael’s College a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

“I give, bequeath, and devise to Saint Michael’s College, an educational organization established by law at One Winooski Park, Box 256, Colchester, Vermont 05439, whose Federal Tax ID number is 03-0179403 [here follows the dollar amount or percentage of the gift, or an accurate description of the securities, insurance policies, retirement funds, or the amount or percentage of the residual estate, or the real estate or other assets given].”

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Saint Michael's College or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to Saint Michael's College as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to Saint Michael's College as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and Saint Michael's College where you agree to make a gift to Saint Michael's College and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
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