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A Lifetime of Ministry, A Legacy of Service: William J. Chiasson, PhD '57

By Carla Francis

William J. ChiassonBill Chiasson's legacy of service and ministry didn't end when he passed away. On the contrary, his legacy lives on through the students who benefit from his bequest to Academic Enrichment at the College.

Throughout his life Bill spoke often of Saint Michael's and the quality of education he received here, according to his wife, Diane, and he gave back with the hope that future generations might benefit as he did. Though he graduated with a degree in Chemistry, the global perspective of the liberal arts education he received instilled in him a love of the humanities.

His college career began at the University of Connecticut, but he soon transferred to Saint Michael's on the recommendation of high school friends who were enrolled, finding his home in the tight-knit campus community. A gifted student, member of the tennis team, founding member of Crown and Sword, and coordinator of Junior Weekend, it was his personal daily habit to attend chapel early in the morning and then spend the day studying.

After graduation, Bill became a novice in the Society of Saint Edmund. He spent his year as a novice at Saint Edmund's on Enders Island in Mystic, Connecticut. Following his profession of vows, he spent four years studying theology at Saint Edmund's Seminary in Burlington, Vermont. He was ordained a priest in 1963.

A few years later he obtained his doctorate in Organic Chemistry from Purdue University, and though eventually he left the priesthood, late in life he completed studies at Virginia Theological Seminary to become an Episcopal priest.

Channeling his passion for learning, which his family explains was cultivated at Saint Michael's, Bill served others throughout his life. His ministries included those as a clergyman, associate professor, civil rights activist, chemist, manager and director assuring the quality of pharmaceuticals for a global company, prison spiritual director, as well as volunteer positions from hospice chaplain to chairmanships of community-oriented nonprofits.

Diane shared, "Throughout our marriage, I observed that Bill continued to learn in ever so many subjects of interest (e.g. art, music, sports, literature, nature, religion, cultures, etc.) by seeking out and engaging others who were most knowledgeable, and intentionally asking questions, including those to which he possessed the answers, in an effort to acquire additional and/or more accurate knowledge."

The College's influence trickled down to the next generation according to Bill's daughter, Lesley Marie, explaining that her father shared with her his love of learning and of continual improvement. She remembers fondly the trip she took with her dad to his alma mater, and how proud he was to show her the place he grew to love and where he loved to learn.

To honor Bill's wish to give back to the College that gave so much to him, his family fulfilled his legacy by transfer of stock to support Academic Enrichment on campus. To commemorate this gift and its impact on academic life, a chemistry classroom in Cheray Hall will be named in Bill's memory. Generations of students will learn the fundamentals of science in this classroom, while also benefitting from the well-rounded liberal arts education Bill so treasured.

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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.

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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.

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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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