Midge Longley '47 |
Retained Life Estates
Midge Longley '47
(From the Fall 2004 Manley Society Newsletter)
In addition to defining our priorities, another step to better
philanthropy is creating a personal mission statement. A statement, however
brief, can help guide future decisions, and offers a measure of the progress
of our philanthropy over time. It is also a way to make philanthropy a family
affair. For Marjorie Watters Longley ’47, supporting St. Lawrence has
been part of her philanthropic mission for a long time. Most recently, “Midge” furthered
her mission by creating a retained life estate agreement
with St. Lawrence that will one day support the Student Center and two scholarship
funds. With the agreement, Midge signed over her New York City co-op apartment
to the University but retained the right to live there for the rest of her
life. On her death, the University will sell the co-op and apply the proceeds
as she has stipulated. For Midge, supporting St. Lawrence means more than
fulfilling a philanthropic priority, it’s a personal mission as well,
as she remarked recently, “I had no biological children of my own,
so I have always considered St. Lawrence students to be my family.” Creating
such a gift plan not only meets her philanthropic goal, but also sets an
excellent example for the rest of her St. Lawrence family.
We are all philanthropists. How effective is your philanthropy?
Making the most of our giving and volunteering is worth some reflection. Order
our Philanthropic Planner to better define your philanthropy,
craft your own mission statement, and create your own philanthropic plan.
