What Would You Like to Accomplish at St. Lawrence?
(From the November 2005 Manley Society Newsletter)

You can do great things now and well beyond your lifetime when you plan your philanthropy. For many, ensuring the future of a St. Lawrence education is an important part of their philanthropic plan. And in true St. Lawrence fashion, a little creativity can achieve other goals as well.

Philanthropic Goal: Honor Parents and Support Students
Don O'Brien '49

Don O'Brien '49

When he arrived on the St. Lawrence campus in 1942, Don O’Brien ’49 had experienced a lifetime of economic depression and war. His parents believed in the power of higher education and struggled so Don could attend college. St. Lawrence was there to help.

At St. Lawrence, Don forged lifelong friendships and a passion for learning. Recently, he decided to honor his parents for their sacrifice and at the same time promote their commitment to higher education. In 2000, he created his first charitable gift annuity at St. Lawrence.

“A gift annuity was a perfect way to generate income for me for the rest of my life and achieve my goals of honoring my parents and supporting a St. Lawrence education,” said Don, who served six years on the Alumni Council following his retirement. The gift annuity provides guaranteed, fixed income for Don for the rest of his life. When the annuity ends, the remainder will be added to a scholarship endowment named in honor of his parents. This endowment will provide support to financially needy students attending St. Lawrence.

The St. Lawrence annuity program works so well that Don has created three more gift annuities. His most recent annuity payout rate, based on his age, was 8.3% and he received an income tax charitable deduction for just under 50% of his gift amount. “I get an income tax deduction now, guaranteed income for life, and I can help needy students get a St. Lawrence education forever. What could be better?” said Don.

Philanthropic Goal: Provide an Unrestricted Gift “Where the Need Is Greatest”
Dwight Knapp '51

Making the most of our philanthropy makes sense to Dwight Knapp ’51 as well.

Dwight Knapp '51

That’s why he created his latest gift annuity last spring. From his many years in business, Dwight understands the need for financial flexibility in running a company. So as he considers his philanthropic goals at St. Lawrence, he wants the University to have flexibility in how it will ultimately use the remainder from his annuities.

“The remainder from my annuities will pass to the University unrestricted so that St. Lawrence can use the funds where the need is greatest at the time,” says Dwight. “For me, creating a series of annuities over the years provides increased fixed income as a hedge against inflation. My last annuity was created at 7.2%, I received an income tax charitable deduction for almost 45% of my gift amount, and my guaranteed payments are electronically deposited to my bank account. Everybody wins.”

Philanthropic Goal: Recognize the University’s Commitment to North Country Students
Peter '58 and Becky Blaisdell '60 Van de Water

Fair play for the common good is second nature to Peter ’58 and Elizabeth Blaisdell ’60 Van de Water. They call Canton home and have devoted their lives and careers to helping others. And helping others in the North Country holds a special place in their hearts.

Peter '58 and Becky Blaisdell
'60 Van de Water

“Young people, especially, in the North Country are a special resource. They exhibit sound values and a great work ethic,” says Becky. “What they lack is opportunity.”

Peter adds, “And what we’re trying to do with our philanthropy at St. Lawrence is provide that opportunity in higher education. Did you know that 20% of St. Lawrence students are from the North Country region?”

With that philanthropic goal in mind, and with an eye toward honoring a long family heritage, the Van de Waters established scholarship endowments in honor of each set of parents. Just recently they created a gift annuity that guarantees income for both for life. When the annuity ends, the remainder will be divided between the two scholarship endowments to provide financial support for North Country students forever. As Becky remarked, “Philanthropy is an exciting and satisfying part of life. With a little planning and creativity, you can accomplish almost anything.”

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.