wish envision choose support
inspire LEGACY GIFT PLANNING SANTA CLARA UNIVERSITY OFFICE OF GIFT PLANNING
“What truly is inspiring about a planned gift is the faith it demonstrates in santa clara’s future.”
A Message from the President
he men and women featured in this booklet range in age from 25 to 84, yet a common bond unites them. They have all experienced—
often firsthand—how Santa Clara University transforms lives. For some, a Jesuit education provided an enduring spiritual bedrock. Others met the love of their life on campus or were the first in their family to attend college. While studying abroad one donor saw how poverty can devastate a community and now organizes international service trips. In short, they all developed a belief in the power of a Jesuit, Catholic education. Another bond they share is their participation with the Thomas I. Bergin Society. By including Santa Clara University in their estate plans, they choose to make a Santa Clara education possible for others. Learning the stories behind a donor’s legacy only deepens my thanks for their vital support of the University’s mission. What truly is inspiring about a planned gift is the faith it demonstrates in Santa Clara’s future. Whether the donation funds a scholarship or sustains a specific program, these gifts ensure that students will continue to have life-changing opportunities at Santa Clara University.
Michael E. Engh, S.J. President Santa Clara University
www.scu.edu/giftplanning | 1
Terry Giorgetti ’71 and Rick Giorgetti ’70
t dawn of the first day of SCU’s 1968 spring break, Rick Giorgetti ’70 was shaken awake by his college roommate returning from Salinas and was reminded of the ski trip he was to leave for—in five minutes!
Stumbling out of his Santa Clara University dorm room, he caught the bus just as it pulled away from the curb. “There was one open seat left on the bus,” he says. “And that was next to Terry [Tarantino] ’71.”
in perfect timing.” Rick and Terry married shortly after graduating from SCU. It’s a story about the irresistible influence of the right place at the right time. But the rest of their story shows the power of planning. Right from the start of their marriage, charity was important in their busy lives. However, like many newlyweds, they could not write large checks, so they volunteered to help fundraise for several causes. These causes included the Holy Family Church, Presentation High School, Rotary, and Santa Clara University’s Bronco Bench Foundation, which raises money for athletic scholarships. As they grew older, they became active donors. Their fundraising experience familiarized the Giorgettis with planned giving, and it was a natural fit to ensure that the church, schools, and organizations they supported would continue receiving that support onward. “Anybody can do this,” Rick says of bequeathing a life insurance policy to charity. “It doesn’t take an enormous fortune to do what we did.” “What is important to me is that students will benefit,”
Choices for Giving
Terry adds. “Graduates from Santa Clara do great things
Gifts of Life Insurance and Other Assets
for the community.”
Perhaps you have an existing paid-up life insurance policy
Or put another way, it’s a legacy that finds more people— during an important time in their lives—in just the right place.
you no longer need or a valuable collection that could benefit Santa Clara University. There are many ways that life insurance policies and other assets can fulfill your philanthropic desires while also benefiting your estate now or in the future. Find out how others have made charitable gifts of life insurance or other appreciated assets by contacting the Office of Gift Planning.
www.scu.edu/giftplanning | 3
t’s a simple question, yet difficult to answer. Anne Middleton ’71 heard it first from her father, as her career went from teaching to journalism to university public relations and
fundraising. When Middleton retired, she asked it once more of herself.
“What would you do if you could do She turned down offers to return to fundraising, a field she had specialized in at the University of California at San Diego, and followed her heart. Some of her most rewarding years were writing for newspapers. Middleton wanted to tell stories again. “That’s what I do now. I teach people how to write autobiographies,” she says. “When I wrote my dad’s memoirs a year before he passed away at nearly 87, it was the best thing I’d ever done. I discovered that it’s good for people, no matter what age, to tell their stories.” As part of Middleton’s training to become a guided autobiographer, Choices for Giving
Tax-Wise Gifts of Real Estate
she chronicled her own experiences. The first assignment was to write about a turning point in her life. She immediately thought of Santa Clara University.
When you give your home or other real estate to Santa Clara, you create an enduring testimonial
At Santa Clara, Middleton met “the best friends I’m ever going to have.”
of your interest in our mission. Your personal
She studied abroad in Mexico City and traveled around Europe after her
satisfaction is also complemented by valuable
junior year with friends. Now, Middleton and her classmates still travel
tax benefits. You will receive a charitable
together, celebrate birthdays, and keep their “Santa Clara connection” alive
income tax deduction for the full fair market
at reunions and frequent get-togethers.
value of the property and eliminate tax on the property’s appreciation. You may make your gift of real estate now or leave it for the future in your estate plan.
4 | www.scu.edu/giftplanning
This is why Middleton made a bequest to Santa Clara—she realizes just how important those first chapters of a life story can be. “There’s no greater gift you can get than a first-class education. It’s not just about the courses, but what’s also important are the friends you make and the values that are instilled.”
Anne Middleton ’71
here’s little doubt that over the years the Mission Church has been the site of many weddings. So, here’s a better question: How many people have gone there for a first date?
“Joe asked me to go swing dancing, but I was going to Mass that morning,” says Cathy De Maria ’70. “He said he’d meet me for Mass.”
“A great beginning can be a “That’s when you thought, maybe he’s not too bad,” Joe De Maria adds. The De Maria’s continued to see each other, and in 1992 made another date at the Mission—this time to get married. For Cathy, the choice of venue was easy because Santa Clara is, in many ways, Cathy’s “first love.” Cathy was the first in her family to attend college, and Santa Clara was her first Catholic school. “At Santa Clara, I wasn’t just learning academically, but also emotionally, spiritually, and in all regards,” she says. “The education inspires you to be a better person, emerging with competence, conscience, and compassion, as Fr. Locatelli coined the phrase.” After graduating, Cathy briefly substitute taught at schools in San Jose before working in the University’s business office and later in the administrative offices while William Rewak, S.J., was president at Santa Clara. Years later, she joined and ultimately became president of the Catala Club, an SCU fundraising group for women that supports scholarships. When she made plans for her estate, Cathy was sure to include the Catala Club. It’s her way of passing on an experience that shaped her life. After all, the University provided her spiritual fortitude, intellectual curiosity, and a passion to help others. And Santa Clara didn’t do such a bad job screening her dates either.
6 | www.scu.edu/giftplanning
Joe De Maria and Cathy De Maria â€™70
Choices for Giving
Gifts that Santa Clara Can Use Today Outright gifts of cash, appreciated securities, mutual fund shares, valuable collections, art, or real estate can be used to support current programs, add to or establish a named scholarship or endowed fund, or provide for capital improvements. An added benefit for many of these gifts is that they may avoid long-term capital gains taxes.
www.scu.edu/giftplanning | 7
Kyle Ozawa ’08
“I care about
yle Ozawa ’08 remembers the exact moment he realized how abnormal his life is. He had just returned from a two-week Santa Clara University immersion trip
to El Salvador when it hit him. “Here I am living in the richest country in the world,” he says. “And in one of the richest states in that country. And in one of the most affluent communities in that state. My norms really aren’t so normal.”
meaningful things having a big impact.” Since graduating with a business degree, Ozawa started work at Google and was invited to represent young alumni on the SCU Board of Regents. As a senior, he cofounded the El Salvador Business Immersion Program through the Leavey School of Business. He has returned to El Salvador, along with travels to Mexico and poverty-stricken areas of the U.S., with both students and alumni. Of these trips with business students he says, “Many SCU grads Choices for Giving
become business leaders. I hope they use this wider perspective to consider the impact of their decisions.”
Leave a Legacy Through Your Estate
One more example of how Ozawa’s life isn’t exactly normal:
You can designate a portion of your estate through
He’s the only person his age he knows who has a will. Google
a bequest in your will, trust, or retirement plan
provided third-party software for the task, which was just
assets. Bequests to Santa Clara may be in the
enough incentive to put his wishes down on record. He under-
form of a fixed dollar amount; a portion of an
stands why people his age may be a bit uncomfortable thinking about wills, but for Ozawa the importance of family and the University to which he’s dedicated so much of his young life outweighed his own discomfort. “In the unfortunate circumstance something does happen to me, I want to know that my assets will be left to the people and organizations I cherish.”
estate; the residue of an estate; a particular parcel of real estate; or a particular security such as life insurance, stocks, or artwork. There are many options when it comes to a bequest and we can provide suggested language to you and your attorney to match your philanthropic priorities with important priorities for the University. Be sure to let us know you have included SCU in your future plans—we want to say thank you.
www.scu.edu/giftplanning | 9
“Education is a gift that is multiplied
ad they been born in a different time, Walter Conn ’55 and his wife Donna may have set out west by covered wagon, or perhaps sailed off the edges of maps aboard galleons.
“We’ve traveled constantly,” says Donna. “I’m convinced Walter is part gypsy.” Just their meeting—at a tennis court dance at Santa Clara University—required a bit of migration. Walter’s family landed in southern California from Cleveland, while Donna’s moved from Montana to Australia to Colorado—and finally to California. After their marriage in 1957, they moved overseas when Walter was stationed in Germany with the Army. During leaves, the couple canvassed the continent, where Donna’s skill with language— she speaks Spanish, German, Mandarin, and some French and Russian—proved invaluable. Walter would go on to be successful in property management in southern California, rising to chairman and owner of the real estate firm Charles Dunn Company. Through seeing the world, raising three children, and building a business, he never lost sight of the
Choices for Giving
Leave a Residence to SCU and Continue to Live in It You, along with your spouse or partner, may
importance of his time at Santa Clara. “Without an education, you’re at a tremendous disadvantage,” Walter says. “My Catholic education is the foundation of my life, of who I am as a person.”
want to leave your home, vacation, or farm property to Santa Clara but want the security of
When the Conns became active in philanthropy, they honed their focus on
remaining in the property during your lifetimes.
students. A combination of an athletic scholarship, ROTC stipend and
When you designate ownership of your prop-
part-time jobs, which included driving a school bus, put Walter through
erty to Santa Clara, you receive an immediate
school. That’s why he reminds the recipients of the Conn’s scholarships
charitable income tax deduction. When Santa
“when you’re successful don’t forget to help other people along.”
Clara eventually receives the property after your lifetime(s), the proceeds will be used to fund a
“With education, you’re magnifying your money,” Donna adds.
priority on campus that is important to you and
“It’s a gift that’s multiplied on and on, both in the students’ lives
10 | www.scu.edu/giftplanning
and in the lives that they touch.”
on and on.”
Walter Conn ’55 and Donna Conn
Sylvia Tellez ’79
“I wish everyone
ylvia Tellez ’79 is the youngest of nine children. She was born in San Diego and traces her roots to Mexico—a point of pride for Tellez, who would always correct people when they misidentified
her ethnicity. “I would tell them, ‘I’m not Spanish, I’m Mexican,’” she says.
could feel inspired.” Growing up in the ’40s and ’50s, Tellez felt the pressure from stereotypes attached to women and minorities. School counselors directed her away from college-track classes, and Tellez seemed destined for a career path as a secretary. That outlook changed as a student at Santa Clara, where she received a grant from the Everett Alvarez, Jr. Scholarship Foundation and came to see herself as “an individual who had power and who had gifts, and who was not just going to do what someone else expected of me.” After retiring, she reflected on the lessons she learned Choices for Giving
at Santa Clara and how they have guided her—in her career, in her spiritual life, and as a member of her community. The decision to donate to a scholarship in honor of Everett Alvarez, Jr. through her retirement savings became obvious.
Gifts of Retirement Funds You may designate Santa Clara University as the beneficiary of a 401(k), 403(b), Individual Retirement Account (IRA), pension and profit sharing
“How could you not?” Tellez says. “I’ve received so much.
plan, Keogh plan, and other forms of retirement
The tradition here is to have people grow. Santa Clara is
plans. Such gifts may benefit your estate during
so nourishing. I was offered a hand and I took it.”
or after your lifetime. You may choose to give any portion of your plan or to designate the
In her way, Tellez is ensuring that future generations may
University as a contingent beneficiary. We can
be offered a hand as well.
help you with the specific language and steps involved to accomplish this goal. These types of gifts may be the most cost-effective gift you can make while providing less-taxed assets for loved ones.
www.scu.edu/giftplanning | 13
typical February in California means forgetting umbrellas and coats, but not the sunscreen. Santa Clara University couldn’t have planned better weather
for Family Weekend, the annual two-day slate of events for students and their parents.
“It’s important to support what “It’s wonderful to see parents with their children on campus,” says Karrie Grasser ’70. This is a familiar feeling for Karrie and her husband Phil Grasser ’67, M.A. ’69, who had all three of their sons graduate from Santa Clara. In fact, their oldest son, Brian Grasser ’97 married a fellow Bronco, Jane Hynes Grasser ’97. In addition, Karrie has a hand in many happenings at SCU as director of University events and protocol, and Phil has helped organize alumni service trips to his hometown of New Orleans. So over the years, they saw firsthand the evolution of the University whether that was new buildings or an expanding student body. Despite the changes, they agree that throughout this time there has always been a “feeling of family” on campus. “It’s true, there’s a Santa Clara family,” says Phil. “All three of our Choices for Giving
Gifts that Pay Secure and Fixed Income for Life
The Grassers have given back to Santa Clara as if it were part of
There are several ways to make a gift today, receive
their family, knowing the impact of the University on their lives,
an income tax deduction, and secure annual income
the lives of their sons, and their community. That’s why they have
for your lifetime or for your loved ones. Backed by
made a bequest to the University—it’s an institution they want to
the University’s assets, when completed, this type
see thrive, especially now that they have two young grandchildren.
of gift will support the important mission of the
Who knows? Maybe the Grassers have another SCU Family
University in an area that is important to you. Some of these types of gifts may have an added benefit to your estate if they have been funded with assets that have appreciated significantly since they were acquired.
sons still have a great cadre of classmate friends.”
14 | www.scu.edu/giftplanning
Weekend in their future. “We both loved our time here, we both think the University did great things for us,” says Phil. “The bonus was that our children got to go here and have the same feelings we do.”
Karrie Grasser ’70 and Phil Grasser ’67, M.A. ’69
â€œI believe we
express our values through giving.”
en years ago, when he received a call from Fr. Joseph Daoust, then president of the Jesuit School of Theology (JST) in Berkeley, the last thing that John Feerick was looking
for was another responsibility. “At that time, I think I was on 28 boards—not-for-profits, public service boards, all kinds of committees,” says the former dean of the Fordham University School of Law. Fr. Daoust began his pitch saying, “I’ll make you an offer you can’t refuse.” And he was right. After all, Feerick’s daughter Rosemary was a Master of Divinity student at the JST, and Feerick himself was a product of and staunch advocate for Jesuit education. “A lawyer serves people as an advocate,” Feerick says. “So there’s a Choices for Giving
compatibility between the lawyer code and the Jesuit tradition of serving others.”
A Gift with Built-in Flexibility
In the decade since joining the JST board, Feerick has become more
A charitable remainder unitrust is like a
and more impressed by the global reach of what he calls a “flagship
combination of a gift and an investment
school.” He has learned how the studies of students from places such
plan. You place assets in trust, and you
as Africa and India will impact their communities back home. Which
(and/or another beneficiary) receive income
is why, as Feerick’s involvement with nonprofits began winding down,
for life or for a set number of years from
the Jesuit School of Theology remained among the organizations
those assets—then Santa Clara receives
that held his strong devotion—and one that he made a part of his
the remainder. This option is excellent as
supplemental retirement income and as a
“There are layers of giving,” he says. “You have to take care of
hedge against inflation. We can provide you
your own needs and your family’s needs. But in my mind, there’s
with a variety of options and details.
always been a concept that it’s not enough to do for yourself. If you can, find a way to reach the wider world and change the lives of complete strangers.”
www.scu.edu/giftplanning | 17
egacy gift planning’s greatest impact is felt by those students who require financial aid to attend Santa Clara University. Erick Castellanos Jimenez
and Jacqueline Gage are students whose scholarships funded by legacy gifts have made the dream of a college education and the influence of SCU values possible.
Dreams and Values “I am a native of El Salvador where I used to attend a Jesuit private school. The values of the Jesuit tradition are why I chose Santa Clara University. Financial aid has allowed me to stay at Santa Clara and double major in Biochemistry and OMIS [Operations and Management Information Systems]. Currently, I am assisting Professor Korin Wheeler’s investigation into how a specific toxin, silver nanoparticles, affects our bodies. I also tutor at a local high school, where I help prepare students for college. The fact that I have the opportunity to make an impact on my own community while I’m still in school is very rewarding.”
— Erick Castellanos Jimenez ’13 “As a marketing student, I’ve applied my business classes both on and off campus. Within the marketing department, I have taken a position as a research assistant, studying data on how consumers review restaurants. I am also pursuing my dream as a singer and started my own jazz group, ‘Jackie Gage and the JurrasiC.’ This has tested my leadership and business abilities—planning rehearsals, finding venues, tracking expenses, and managing social media. So far, we’ve performed on campus and around the Bay Area. This year, I was invited to perform at SCU’s Golden Circle event, which was a dream come true. Without financial aid, these opportunities would simply not be available to me.”
— Jacqueline Gage ’13
18 | www.scu.edu/giftplanning
Erick Castellanos Jimenez ’13
Jacqueline Gage ’13
www.scu.edu/giftplanning | 19
“Universities are built by many.” Chancellor William Rewak, S.J.
homas I. Bergin was Santa Clara College’s first graduate and
the recipient of the first bachelor’s degree awarded in California. After
graduating in 1857, Bergin went on to study law in New York and later practiced in San Francisco. The legacy he left to his alma mater in 1915—a $100,000 cash bequest in his will—was one of the first received by Santa Clara and helped finance the recently founded Santa Clara School of Law. Founded by President William Rewak, S.J., in 1987, the Thomas I. Bergin Legacy Society honors and thanks those alumni, friends, parents, faculty, and staff who have either made a provision or have stated to the University that they intend to make a provision for Santa Clara University in their estate plans. “A university such as Santa Clara is built by the work of many people over an extended period of time—in Santa Clara’s case more than 150 years,” says Fr. Rewak. “The Bergin Society is a way to remember the names of the people who helped carry out this work.” Since its founding 25 years ago, the ranks of the Bergin Society have grown from roughly 200 benefactors to more than 1,000. In this time the University’s endowment, one of the primary destinations for bequests, has surged from under $100 million to more than $700 million. In much the same way that the earliest donors to Santa Clara laid a foundation for the University’s later success, today’s generation of donors continues to shape the future of Jesuit education in Silicon Valley.
Management of Your Planned Gift Santa Clara University and the Office of Gift Planning are here to support and work with you and your advisors in a joyful experience that meshes your charitable giving with your estate priorities. Santa Clara may serve as the trustee of charitable remainder trusts and charitable gift annuities. You may also choose to serve as the trustee of your charitable trusts that still benefit the University. You are always welcome to contact us for more information and a confidential review of your plans.
Paper Choice â€“ Environmental Benefits Statement
print 12Y, 41K
Using post-consumer waste fiber Pounds of Number of Total energy paper trees saved saved
Greenhouse gas reduction (PCRF)
Greenhouse gas reduction (green power)
Solid waste reduction
2,500 7.5 5.25 million BTUs 821 lbs. 2,807 lbs. 2,692 gallons 708 lbs. Calculations based on research by Environmental Defense and other members of the Paper Task Force.
SCU OMC-8195 4/2012 5,000
OFFICE OF GIFT PLANNING 500 El Camino Real Santa Clara, CA 95053-1400 www.scu.edu/giftplanning email: email@example.com 408-554-2108