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Gift Planning

Giving Back Is Easy: Just Ask Michael Anglin '70CBA, '79MBA

Michael AnglinMichael Anglin '70CBA, '79MBA has always been grateful for his success, and now he's chosen to show his appreciation in very special ways.

After earning his B.S. in Accounting from St. John's College of Business Administration, Michael spent two years with Arthur Young & Co., a Big 8 CPA firm, before moving to the client side. This included a variety of management positions, including Controller at the Eileen Ford Modeling Agency and Assistant Corporate Controller at J. Walter Thompson Advertising Agency. 

After a few years, he decided to enter the field of Consumer Marketing, and returned to St. John's for his M.B.A. in Marketing to help move his profession in the new direction.

"God was very good to me,"he says, "and after a successful career in Consumer Goods/Brand Management I was able to retire at 55 years of age. And then with some lucky breaks I was offered an opportunity to teach at St. John's, something I had always wanted to do."

Giving Back
When it came time for him to establish his estate plan, Michael knew that he wanted to show his appreciation to the University that has always meant so much to him. He became a member of The McCallen Society, established a scholarship in his parents' name and also created a Charitable Gift Annuity to ensure that St. John's would continue to flourish in the future.

Michael hopes that other alumni will follow his lead when planning their own financial futures.

"Somewhere in the past 25 years, I realized that you don't become successful entirely on your own, but you do it with structure and help from other people,"Michael says. "In my case, my parents and my University were those other people, and I wanted to show my appreciation to them. As you go down the road and plan for your estate, it becomes easier to realize what St. John's has done for so many of us and to want to direct some of our assets to see that the University's mission continues after we're gone. I'd recommend that to anyone whose financial situation can make that possible."

Give Your Gift
If you're interested in leaving a gift of your own, contact Susan M. Damiani '87CBA at 718-990-7562 or damianis@stjohns.edu to learn more.

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A charitable bequest is one or two sentences in your will or living trust that leave to St. John's University 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, [name], of [city, state, ZIP], give, devise and bequeath to St. John's University [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

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 St. John's 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 gift 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 receive an immediate federal income tax charitable deduction. 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 St. John's as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 St. John's 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 St. John's where you agree to make a gift to St. John's 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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