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Connection, Community and Education

Tom and Denise Kelley

Tom '69 and Denise Kelley

"Everywhere I turn, there seems to be a St. Mike's connection" says Tom Kelley '69. For him, the Saint Michael's connection has existed for more than 50 years in his life. His link to fellow alumnus Neal Doherty '67 opened the first conversation Tom had with Denise, his wife of over 45 years. They met in a pub in Boston, and Tom used the connection to foster a long relationship. Neal is Denise's older brother, and her younger brother, Jerome Doherty '73, was friends with Tom's younger brother, Kevin Kelley '72.

"It's like a mini St. Mike's family" says Tom. The St. Mike's connection is generational, too. Fr. Ned Stapleton was his mother's high school classmate and guided Tom during his college years at St. Mike's. "My mom was happy that Fr. Ned was there." Tom recalls seeing Fr. Alliot walking around campus, and certainly remembers Fr. Ray being here, too. Fr. Ray's ubiquitous presence on campus has helped Tom stay connected to the College after all these years; both Tom and Fr. Ray were inducted in Saint Michael's Athletic Hall of Fame at the same ceremony in 2009.

After graduation, while Tom was attending Boston College Law School, three of his college friends connected with him: Richard Healy '69, Joe Maher '69 and Richard Wentzell '69; they all shared an apartment. Several Saint Michael’s graduates at other law schools in Boston lived in the same apartment building or close by including Michael Cunniff ’67, Barry Roy ’67 and Jack Lacaire ’67. Paul Murphy ’69 was a frequent visitor and a lifelong friend to the entire group. It was Richard Healy's father who helped Tom land his first law job. To this day, Tom maintains the friendships he formed here at Saint Michael’s College.

He also stays connected to the College by participating in SMC Boston Club events, coming back for reunions and spending time with students. "It has been very good for me to stay connected with students," says Tom. He skied and worked with the College's ski teams for almost 20 years at their weekly races and at the Ski Carnivals.

To give back, Tom and Denise wanted to do more for the College's future than just annual fund giving. They designated Saint Michael's as the beneficiary of a life insurance policy to ensure a rewarding Saint Michael's education continues into the future.

Tom and Denise also wanted to provide the same opportunity that was given to Tom by giving in other ways to benefit the College today. "Now that we are 70½, we use the IRA charitable rollover as a way to give back, the benefits which we can see in the present. The donation is tax-free, goes to the College's immediate needs and counts toward my required minimum distribution," explains Tom.

Their decision to make this gift comes in conjunction with Tom's 50th Class Reunion, so it will count toward his class gift total. "It is a recognition that Saint Michael's led me toward a satisfying career and ultimate security for our family. Saint Michael's opened the door of opportunity for me and got me off to a great start in life."

Now that Tom has retired as a practicing attorney and raised two children, he laughs as he mentions that, "everywhere in my life there are St. Mike's connections—I can't seem to avoid it, nor would I want to!" Two of Tom and Denise's neighbors have sent three of their children to Saint Michael's with Tom's encouragement.

When asked what advice he has for students today, Tom reflects, "I can attest that every ounce you put into St. Mike's will make the College a better place and will come back to you later in life with pounds of success. As a graduate, you should give back to St. Mike's as soon as you're able, even a small contribution. You'll be happy to see how your annual and planned gifts add up and make a big difference over the years."

To learn how you can make a lasting impact at Saint Michael's with a planned gift, like Tom and Denise, contact Carla Francis at cfrancis@smcvt.edu or 802-654-2618.

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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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