volume 8 8 Fall 2015 LEGACY RANDOLPH-MACON COLLEGE: BUILDING EXTRAORDINARY RANDOLPH-MACON COLLEGE: BUILDING EXTRAORDINARY Extraordinary Gratitude Boyce Reid grew up in Lynchburg, VA and thought he would go to Virginia Tech or The University of Virginia. Then... CONTINUED
COVER STORY Extraordinary Gratitude Lambuth Clarke 44, R-MC Vice President of Development, visited his high school to speak to students about Randolph-Macon College, particularly the scholarship opportunities offered students. This event changed the course of Boyce s life. He applied and was accepted at R-MC majoring in history. Even with scholarships, Boyce had to work hard to afford tuition, room and board. He worked every summer in Lynchburg in addition to a job in the cafeteria during the school year and as a student grader for some of the professors. He still found time to be a member of the College s baseball team and treasures the life lessons he learned from Coach Hugh Stephens 41. He considers all of the hard work worth the effort and loved his time at R-MC. Following graduation, Boyce attended law school at the University of Virginia but quickly decided that was not the career path he wanted to pursue. After completing Army Officer Candidate School, he served in Vietnam in 1969-1970 as an intelligence advisor and liaison to the Vietnamese earning the bronze star. While in the military Boyce discovered he had an interest in finance; so after his military service he worked as a trust examiner for The Comptroller of the Currency, a division of the U.S. Treasury, for three years before returning to Lynchburg when he was offered a position as Investment Officer in the Trust Department of Fidelity American Bank. While in Lynchburg, he also earned his MBA at Lynchburg College. Following a merger with Central National he moved to Richmond in 1984 and then in 1987 joined Capitoline Investment Services, a subsidiary of Crestar Bank (later Trusco Capital Management /SunTrust Bank) as Senior Vice President and Manager of Fixed Income, where he spent another twenty years successfully managing major endowment, foundation, and retirement funds before retiring in 2007. Today, Boyce still remains active managing funds for a select number of high net individuals for his own firm BGR Advisors. Boyce feels that it is important to give back to R-MC in return for the wonderful liberal arts education that laid the foundation for his career in finance and investments, and he decided there was no better time than during his 50th Reunion year. He made a blended gift, meaning he donated from his IRA to establish the Boyce and Mary Reid Endowed Book Fund, contributed to the new Science Center, committed to a 5-year pledge, and also informed the College of his intention to leave a bequest to R-MC in his will. Boyce said he is very proud of his degree from R-MC and is impressed and excited about the course in which the College is moving to significantly increase campus facilities, build endowment funds, expand the student body, and move Randolph- Macon to an even higher level of excellence. Boyce was motivated to give back to R-MC in gratitude for the scholarships he received, the education he acquired, the friendships he made and his experiences on the ball field. His successes are many but he will say, without a doubt, he is proudest of the life and family he and his wife Mary Jo have shared during their 50 years of marriage, his two children and 5 grandchildren. Boyce says what matters most to him now is being a good grandfather. Boyce is also a loyal alumnus who is helping to plan for the future of Randolph- Macon College. 2
STUDENTS TODAY An Extraordinary Path Ahmad Nazeri 16 is bright, articulate, ambitious and unique in the path he children and keep the family together. She did this, despite a language barrier, by As a double major in Math and Computer Science, Ahmad credits his to return to R-MC but for the contributions from the James and Mary Dudding Vaughn has followed to Randolph-Macon College. working in housekeeping positions in hotels. professors Dr. Eve Torrance and Dr. Scholarship established by John in honor of Ahmad was born in Afghanistan, the She provided support, strength, and instilled John McManus for their mentoring. his parents. Ahmad is overwhelmed by the youngest of six children. The Taliban came to in her children the importance of an He appreciates alumni Nick Capito 05, selflessness demonstrated by R-MC s power and Ahmad s parents wisely chose to education in order to succeed. Pat Filoteo 93 and Chris Chodnicki 86 scholarship donors, professors and leave their native country and immigrate to Ahmad learned about Randolph-Macon for giving him advice on how to pursue collegiate community. Pakistan. Sadly, his father died suddenly and College from his high school history teacher his interests in business and computer Ahmad s path has brought him to his mother was left to raise six children in a Britt Arthur 06. Upon further reading and science in the job market and how to Randolph-Macon College. His future is country that had restrictions on a woman s visiting R-MC; learning about the robust best prepare for life after graduation. bright, thanks to those who have guided opportunities to work. Demonstrating great financial aid program and witnessing the Ahmad above all values the financial him. Moving forward he wants to give bravery, Ahmad s mother immigrated to the warmth of the College community, Ahmad support and mentorship of John Vaughan back with the same altruism that he was United States to provide a home for her decided he had found the right place to 66. He is humbled by John s generosity shown and guide others like him to continue his education. saying that he would not have been able achieve their dreams. Ahmad Nazeri, Class of 2016 Math and Computer Science double major Hometown: Richmond, VA
MAKE A DIFFERENCE! Charitable Gifts Made Before December 31, 2015 May Lower Your Taxes. It is not too early to think about taxes. In fact, you should begin taking action now to reduce your tax obligations. The question is, would you rather pay money to the IRS or make a gift to Randolph-Macon College and have an impact on a young person s life. The rewards of making a charitable contribution to the College are many and can be achieved in several ways. Ways to make a difference: n A cash gift to Randolph-Macon College of 2,000 before December 31, 2015 from an individual in the 25% income bracket would save the donor 500 in taxes. This varies with income bracket and the amount donated. n For a gift of appreciated stocks directly transferred to Randolph- Macon College, you may deduct the fair market value of the stock as a charitable deduction bypassing applicable capital gains. n Life insurance policies may be given to Randolph-Macon College providing a charitable deduction for the donor. Please call for details. Planned gifts are also a tax effective way to provide retirement income. n Charitable Remainder Trusts funded with assets such as appreciated stock can provide substantial tax savings while at the same time providing annual income to you and your family. The assets can appreciate within the trust tax-free. The payout grows as the trust assets increase, thereby providing a hedge against inflation. n Charitable Gift Annuities funded with cash or appreciated stocks provide an income stream for you and/or a loved one while at the same time providing a charitable deduction the year the gift is made. Please refer to the annuity chart on the back panel for details. For any questions or needs please contact: Nancy Denton Director of Planned Giving (804) 752-3039 Toll free: 1-866-694-4574 nancydenton@rmc.edu www.rmc.edu 5
Non-Profit Org. U.S. Postage P A I D Richmond, VA Permit No. 1560 P.O. Box 5005 Ashland, VA 23005-5005 HOW TO: 1. Support Randolph-Macon College 2. Increase retirement income, and 3. Get an income tax deduction! A Charitable Gift Annuity can do all of these things. The chart below illustrates what your rate of return would be on a 25,000 gift annuity, funded with cash or stock. The amount of the quarterly payment is based on the amount of the annuity and the age of the person receiving the payments (the annuitant ). At the end of the annuitant s life*, the balance in the fund will benefit Randolph-Macon. *An annuity can also be paid out over the life of the donor and a loved one, for example, a husband and wife. Age Rate Annual Payment to Annuitant Potential Income Tax Deduction 70 5.1 % 1,275 10,004 75 5.8 % 1,450 11,257 80 6.8 % 1,700 12,412 85 7.8 % 1,950 14,054 DISCLAIMER The information should not be construed as legal or financial advice. We are happy to work with your attorney or financial advisor to determine whether any of the planning ideas offered herein are suitable to your own situation.