A planned gift to Siena College allows you to make charitable gifts, continue to meet your current income needs, and take advantage of current tax incentives. Gifts of all sizes allow you to carry on the essence of philanthropy inspired by the Franciscan Friars of the Holy Name Province and their establishment of the college in 1937.
Here you'll find all the information you need when considering a planned gift to the College. You will also find information to share with your financial advisor and estate planner. When you are ready, you can use this site to reach out to us to share your plans, let us know what you are considering, or just to start a confidential, no obligation conversation about what's possible.
St. Francis Society
The St. Francis Society is a community of "Siena Saints" who share the original dreams and vision of our founding Friars to create a perpetual learning community.
Members of the St. Francis Society have chosen to extend their legacies while furthering the work of Siena College by including the College in a will, trust, or other legacy gift.
If you've included Siena in your philanthropic plans or intend to do so, please let us know. Sharing your intentions allows us to help you choose the gift that's right for you, and better plan for Siena's future.
Give Like A Saint
Click below to see a list of St. Francis Society members.
Not only do you have options for how your gift will be used, you also have options on what to give and how to give. There are gifts that cost you nothing now, gifts that pay you income, and gifts that allow you to decide what happens when.
Beneficiary Designations
Retirement Assets and other Funds
Naming Siena as the beneficiary of a retirement plan asset such as an IRA, 401(k), or 403(b) will accomplish a charitable goal while realizing a significant tax savings.
Through a provision in your written and executed will or living trust, you can make a gift to Siena in the form of cash, securities, or real estate. There are many types of bequests. Consult with your attorney to choose the one that best fits your needs and intentions.
When you donate appreciated stocks, bonds, or mutual fund shares instead of cash, your gift costs you less than the amount Siena receives. You’ll get a charitable deduction for the full amount of your gift and avoid the impact of capital gains taxes.
Charitable IRA Rollover Make a Tax-Free Gift from Your IRA
If you’re 70 ½ or older, each year you can instruct your IRA administrator to transfer up to $100,000 directly to Siena College tax free. After age 72 (73 for those who turned 72 in 2023) you can have all or part of your required minimum distribution (up to $100,000) transferred directly to Siena College and avoid paying the tax had you taken it as income.
Gifts of Real Property
Real Estate and Other Property
Like stock, the fair market value of gifts of appreciated assets can be deducted from your income tax today, allowing you to avoid capital gains and reduce estate taxes in the future. There are even ways to donate your home and live there as long as you’d like.
Designate Siena to receive all or a portion of the balance of your Donor- Advised Fund (DAF) through your fund administrator. You also can make a grant to us at any time from your donor-advised fund. The balance in your DAF passes to the college when it terminates.
Charitable remainder unitrusts make payments to you or another beneficiary with the remaining value passing to Siena. Charitable lead trusts provide payments to the college with the remaining value passing to your heirs. For the savvy donor, charitable trusts can provide tax-advantaged income, eliminate capital gains tax, or preserve assets for your heirs.
Include a bequest to Siena College in your will. You can make your bequest unrestricted or direct it to a specific purpose. You may even indicate a specific amount or percentage of the balance remaining in your estate.
Benefits
Your assets remain in your control during your lifetime.
You can modify your gift to address changing circumstances.
You can direct your gift to a particular purpose (check with us to make sure your gift can be used as intended).
Under current tax law, there is no upper limit on the estate tax deduction for your charitable bequests.
Planning Tip
If you express your gift as a percentage (e.g., “20 percent of the residue of my estate”), you can maintain the same relative gifts to charities and your heirs, regardless of changes in estate value. If you’re considering designating your gift for a specific purpose, such as research, special programs, or support for a specific department, contact us to ensure that we understand your wishes.
Sample Bequest Language
You may wish to share the following sample language with your attorney:
Unrestricted bequest
“I give (a specific dollar amount/a specific asset, or percentage of the rest, residue, and remainder of my estate) to the Trustees of Siena College, located in Loudonville, NY, for its general tax-exempt purposes.”
Bequest for a specific purpose
“I give (a specific dollar amount/a specific asset, or percentage of the rest, residue, and remainder of my estate) to the Trustees of Siena College, located in Loudonville, NY, to be used for the following purpose (state the purpose).”
NOTE: If you wish to restrict your bequest to a specific purpose or program at Siena College, please contact Anthony G. Marino '97. in advance to assure that the language you include will accomplish your wishes and align with Siena College’s needs.
Endowment funds for a restricted purpose
If your bequest will be used to establish an endowed fund for a restricted purpose, we recommend that you and your counsel consider adding a “saving clause” to your bequest provision. A “saving clause” is a way to ensure the usefulness and relevance of your bequest in the future as Siena College’s needs and priorities change. For example:
“If, in the future, it is the opinion of the Board of Trustees at Siena College that all or part of the income of this fund cannot be usefully applied to such purpose, it may be used for any related purpose which, in the sole opinion of the Board of Trustees, will most nearly accomplish my wishes.”
Beneficiary Designations from Retirement Accounts and Other Funds
Beneficiaries of your Retirement Plan or your IRA
Designate Siena College as a beneficiary of part or all of your qualified retirement plan or your IRA. Normally, the assets held in an IRA or qualified retirement plan will be subject to both income and estate taxes, but if you name Siena College as a beneficiary of a percentage (or all) of your plan, that portion will pass to Siena College free of income or estate taxes.
Payable on Death Bank Account Designation
Designate your bank account to be payable on death (POD) to Siena College. There is no change in ownership, control, or benefit from this account while you’re living. The POD designation causes whatever funds that remain in the account to go to Siena College at your death.
Transfer on Death Brokerage or Investment Account Designation
Designate your brokerage or investment account to be transferable on death (TOD) to Siena College. It’s not necessary for the TOD designation to transfer all of the account solely to Siena College. You can designate percentages of the account to pass to additional beneficiaries. To set up the transfer on death endorsement, contact your investment advisor and provide the instructions regarding the change.
A charitable gift annuity allows you to gain the security of fixed payments for life, receive a tax deduction for a portion of your gift, and make a gift to Siena College that you may not have thought possible.
How You Benefit from a Charitable Gift Annuity
Income for Life: An annuity is payable for life to one or two people so you cannot outlive your annuity payments.
Eliminate Investment Risk: Your annuity payments — at a fixed amount, will remain constant regardless of market volatility.
Charitable Deduction: You’re entitled to a current charitable income tax deduction for a portion of your gift amount.
Capital Gains Benefits: If your annuity is funded with appreciated stock, you avoid paying capital gains tax on some of the appreciation, and spread the remaining capital gains over your anticipated life expectancy.
Tax-advantaged Income: Depending on the assets used to fund the annuity, each annuity payment typically includes a tax-free return of principal, capital gain, and ordinary income.
Secure Payments: Your annuity payments are guaranteed by all of Siena College’s assets.
How Siena College Benefits
At the death of your last income beneficiary, the remaining annuity assets are transferred to Siena College to be used for a purpose you may designate or Siena College’s greatest need.
If you don’t need income right away, you can obtain both a higher payout rate and a larger charitable deduction by establishing a deferred charitable gift annuity. A deferred gift annuity provides you with fixed payments for life that begin when you need them and an immediate tax deduction for a portion of your gift.
How You Benefit from a Flexible Gift Annuity
Income for Life: An annuity is payable for life to one or two people age 60 or older, so you cannot outlive your annuity payments.
You Control When Income Begins: Annuity payments are deferred until you choose to start them (at age 60 or older), with a minimum required deferral period of one year.
Charitable Deduction: You are entitled to a current charitable income tax deduction for a portion of your gift amount.
Capital Gains Benefits: If your annuity is funded with appreciated stock, you avoid paying capital gains tax on some of the appreciation, and spread the remaining capital gains over your anticipated life expectancy.
Tax-advantaged Income: Depending on the assets used to fund the annuity, each annuity payment typically consists of a tax-free return of principal, capital gain, and ordinary income.
Secure Payments: Your annuity payments are guaranteed by all of Siena College’s assets.
How Siena College Benefits
At the death of your last income beneficiary, the remaining annuity assets are transferred to Siena College to be used for a purpose you may designate or for Siena College’s greatest need.
Charitable remainder unitrusts allow you to make a gift of cash, stock, or real estate, receive a tax deduction for a portion of your gift, and receive variable payments from your unitrust for life or a term of years.
How You Benefit from a Charitable Remainder Unitrust
The income from a unitrust can grow over time, providing you with a potential hedge against inflation.
You can claim a charitable income tax deduction for a portion of your gift amount.
If you fund your trust with stock or real estate, you also avoid paying immediate capital gains taxes on the appreciation.
Unitrust income is taxed at favorable rates, since it usually consists of part ordinary income and part capital gains.
You can structure a trust to pay income to multiple people, either for their lifetimes (if they are age 50 or older) or for a specific number of years (up to 20).
How Siena College Benefits
When the term of the trust concludes, the remaining trust assets are transferred to Siena College to support Siena College’s mission or for a purpose you designate.
Giving publicly traded shares of stock, bonds, or mutual funds to Siena College allows you to turn an appreciated asset into support for research and special programs.
You’ll receive a charitable income tax deduction for the fair market value of your gift, and as a qualified non-profit, Siena College can then sell the stock without having to pay capital gains tax. All the proceeds from the sale will be used for the charitable purposes you specify.
You can designate your gift to Siena College, to start an endowed fund, or to support a particular initiative.
The real cost of your gift is reduced, since you’ll save on income and capital gains taxes by giving appreciated stock or mutual fund shares to Siena College.
You can use your securities to make different types of gifts, including:
An outright gift that gives you a charitable deduction for the fair market value of the property while potentially avoiding capital gains taxes.
A gift that gives you income back and an immediate tax deduction, while leaving the assets to Siena College.
A gift that gives Siena College income for a few years, then is passed on to your heirs at the time you specify, with considerable estate and gift tax savings.
Do you own your own business? It’s also possible to give closely held stock to Siena College.
If you own your own business, the stock in your company has virtually no cost basis, making it subject to significant capital gains when you’re ready to sell.
While potentially very tax-advantaged, gifts of closely held stock are not without their complexities and require thoughtful consideration on the part of all parties including: the shareholder, the company issuing the stock and Siena College.
Using real estate to make a gift allows you to turn an asset into support for Siena College, receive a charitable income tax deduction, and potentially avoid paying capital gains taxes.
Gifts of Real Estate
The real cost of your gift is reduced, since you’ll save on income and capital gains taxes by giving appreciated property to Siena College. You can use real estate to make a variety of different types of gifts, including:
An outright gift that gives you a charitable deduction for the fair market value of the property while potentially avoiding capital gains taxes.
A gift that gives you income and an immediate tax deduction, while leaving the assets to Siena College.
A gift that gives you income for a few years, then is passed on to your heirs at the time you specify with considerable estate and gift tax savings.
A gift that gives you a sizable tax deduction today and allows you to use the property for your lifetime, while leaving the property to Siena College upon your death.
By contributing your home, while retaining the right to live in it for life, receive a tax deduction for a portion of your gift, and continue to use your property while you are living.
How You Benefit
You receive a charitable income tax deduction today for a gift that will help Siena College in the future.
Your estate taxes may be reduced because the property is removed from your estate.
Your executor’s job is simplified, since your property will pass directly to Siena College upon your death.
How Siena College Benefits
At the end of your life, Siena College can use the property or the proceeds from the sale of the property—;either for Siena College’s greatest need or for a purpose you specify.
Minimum Gift
The minimum gift for establishing a retained life estate with Siena College is $100,000.
Make Siena College a beneficiary of your life insurance
Making a gift of life insurance allows you to transfer ownership of a paid-up life insurance policy to Siena College. Siena College elects to cash in the policy now or hold it.
How You Benefit from a Gift of Life Insurance
Make a gift using an asset that you and your family may no longer need.
Receive an income tax deduction equal to the cash surrender value of the policy.
You may be able to use the cash value of your policy to fund a gift that delivers income, such as a planned gift annuity.
Designate Siena College to receive all or a portion of the balance of your Donor-Advised Fund (DAF) through your fund administrator (you also can make a grant to us at any time from your donor-advised fund). The balance in your DAF passes to Siena College when it terminates.
How You Benefit
You can direct your gift to a particular purpose (be sure to check with us to make sure your gift can be used as intended).
Maintain flexibility to change beneficiaries if your needs change during your lifetime.
Gifts Through Trusts
Grantor Charitable Lead Trusts
A grantor charitable lead trust allows you to claim an income tax deduction based on the present value of the future annual payments to Siena College, and retain the principal when the trust’s term ends.
Charitable Remainder UniTrusts
A charitable remainder unitrust allows you to donate cash or appreciated assets and receive payments based upon a percentage of the trust’s annual value. When the value of the trust increases, so do your payments and your gift to Siena College. Your donation qualifies for an immediate tax deduction, and you save capital gains taxes..
A flip unitrust allows you to donate illiquid assets, such as business interests or assets earning little or no income, like undeveloped real estate, and receive an immediate tax deduction. The value of those assets appreciates in the trust tax-free. When the assets are sold, saving capital gains taxes, the trust “flips” to a conventional charitable remainder unitrust and begins making payments to the beneficiary.
Family Trust
A family trust also is called a charitable lead trust because the charity takes the “lead” in receiving payments for a period of time with the remaining assets, plus appreciation, going to members of the next generation when the term of the trust expires. The donors pass the trust assets to heirs at reduced transfer tax cost.
If you’re 70 ½ or older, each year you can instruct your IRA administrator to transfer all or part of your required minimum distribution (up to $100,000) directly to Siena College and avoid paying the tax had you taken it as income.
An IRA rollover allows you to make a gift to Siena College directly from your IRA, pay no taxes on the transfer, and count the gift toward your required minimum distribution.
Tax-Free IRA Rollover
The charitable IRA rollover allows donors to exclude certain transfers of Individual Retirement Account (IRA) assets that are made directly to public charities from their taxable income.
To qualify
You must be age 70 ½ or older at the time of gift.
Transfers must be made directly from a traditional IRA account by your IRA administrator to Siena College. Funds that are withdrawn by you and then contributed do NOT qualify. Gifts from 401k, 403b, SEP and other plans do not qualify.
The gift must be completed during the applicable tax year.
Clancy Connell, Class of 1912, for whom the alumni center is named,
famously
said, The more I work for Siena College, the more I give, and the
more I give, the harder I work.
John Allen 60 follows that example. The list of his volunteer activities
is lengthy - co-president of the New York City Alumni Association, class
correspondent
for Siena College Alumni Review, class president and member
of his 50th and 55th reunion committees.
John and his wife, Beth, also are Continuous Continentals, members of the
1812 Leadership Circle and Joel Bristol Associates. After contributing regularly
to the Annual Fund for many years, the couple inquired about charitable gift
annuities. Finding the tax savings and fixed quarterly payments appealing,
they established two CGAs with Siena College.
SUSAN ALICE BICKFORD '70 ½
As a member of the Kirkland charter class, I was privileged to participate in building a unique academic and community environment from the ground up. Siena College was a key part of that period in my life where I also made many friends and grew into adulthood.
At the end of my senior year, I recall Kirkland President Sam Babbitt telling us that most of us would go on to careers that weren't related to our majors and that we might not remember all the wonderful knowledge that had been imparted to us while in Foundation. However, we had learned how to learn, and this would be one of the most critical skills we had acquired.
Over the years and a number of dramatic career transitions, I have found his words to be true. After majoring in fine arts, I leaped to computer graphics, to a career as a developer, and then to an executive position in the high tech arena. Now, with the publication of my first novel this year, I am embarking on a career as a writer of fiction.
At each juncture I had to stretch and learn. Every transition allowed me to leverage what I had done before and to learn new facets of business, technology, and management. Some of these lessons came through formal training, but many I undertook on my own, confident that I knew how to learn.
Although I was sad to see Kirkland disappear as a formal entity, I have been thrilled to watch how Siena College has continued to evolve, initially pulling in many Kirkland concepts and going on to change and grow to meet then eeds of current and future students.
Many years ago, I decided to do what I could to encourage Siena College along this path. At first I could not afford to give very much, but I increased my annual contributions modestly over time and eventually added Siena College as one of the beneficiaries of my estate. I don't foresee any Siena College buildings with my name over the door; I simply hope my contributions will give students what Kirkland and Siena College gave me - a top-notch education and the ability to learn how to learn.
Dottie and Milt Kayle '43
Milton P. Kayle '43 accomplished a great deal for Siena College during his lifetime, and his gift planning efforts continue to benefit his wife, Dorothy, and current students. In addition to supporting the Annual Fund, Milt established an achievement prize named for his father-in-law, H. Samuel Slater, and two scholarships - one named for a favorite high school teacher, Owen Roberts '25, and another for a client who worked with disadvantaged children - that make annual financial aid awards to current students. He completed a life income gift with Siena College that makes payments to Dottie and eventually will augment the scholarships. Milt also named Siena College as a beneficiary of his estate plan.
Special Assistant to and the youngest member of President Harry S. Truman's staff, Milt later became a successful attorney and for Siena College served as a trustee, the first chair of planned giving and the half-century annalist for the Class of 1943.
Rob '70 & Cheryl Shallish
Following his retirement from a career in accounting and many years as the chief financial officer of a New York State-based medical device manufacturer, Rob Shallish '70 and his wife, Cheryl, wanted to diversify their portfolios and endow scholarships at their Foundations. Exploring their options, they decided to establish two charitable trusts - one with Siena College and a second with Elmira Foundation, where Cheryl had majored in elementary education before becoming a teacher.
These gifts allowed them to accomplish their financial and charitable goals, claim an immediate income tax deduction, save capital gains tax from the sale of shares of appreciated stock, receive quarterly payments from the trusts for life and provide educational opportunities for future students.
"Donating to our Foundations through these trusts benefits us personally by reducing current taxation and by providing a future cash flow," Rob says, "but, more importantly, we are able to honor our Foundations for the educational experiences that launched our careers."
Jeff '71 and Claudia Little
For some time, Jeff Little '71 had ongoing conversations with Siena College and his advisors about the gift tax exemption that is set to be reduced on December 31, 2012. In February, he called Anthony G. Marino '97. , Asst. Vice President for Development and External Affairs, to advise that he was going to take advantage of the current gift tax unified credit and establish a Charitable Lead Annuity Trust. Historically low interest rates make lead trusts particularly attractive at this time. As Jeff told Ben, "I had to take action this year." This trust will make annual payments to Siena College for a term of years, with the remaining trust principal plus appreciation delivered to his heirs free of gift tax. Jeff and Claudia have been extremely supportive of Siena College's plans for new arts facilities, and the payments will support the new buildings.
Gladys and Scott Macdonough '65
When Gladys and Scott Macdonough '65 learned about charitable remainder unitrusts, they realized it was an ideal vehicle to help them accomplish their goal of maintaining their lifestyle in retirement. "Our unitrust began making quarterly payments to my wife and me when I reached age 65, and they will continue to the survivor," Scott says. "Siena College serves as trustee, saving us the hassle of having to oversee the management of the funds. The best part of all is that Siena College will reap the benefit we wish it to have."
Recently, in honor of Scott's 50th reunion, the couple considered adding to the unitrust but selected a charitable gift annuity instead. "At this age, we prefer fixed payments and knowing how much we will receive each quarter, compared to the variable payments of the unitrust," he added.
Kari Diamond Kayiatos '01
Following graduation, I worked for the Berkshire School and my
alma mater, The Loomis Chaffee School. My development office
experience demonstrated the importance of all gifts to the organization.
Seeing firsthand how estate gifts build the endowment
motivated me to include Siena College as a beneficiary of my retirement
plan. It was very easy to do, it saves estate and income taxes,
and it can make a significant impact on Siena College.
Nancy Seeley and Dan Ferguson '48
As Trustee Nancy Seeley established a charitable remainder trust, she said,
"My brother (Dan Ferguson '48) states that his similar gift to Siena College was
the best investment he ever made." While a charitable remainder trust is a
contribution, not an investment, planned gift donors typically are pleased
with the asset management by the trustees, the payments they receive and the
remainder value left to Siena College.
Phil '59 and Ann Mead
I value very much the lifelong friendships established with Siena College classmates, faculty, staff and even classmates of
our sons, both of whom also are graduates. Siena College has
an important place in the life of the Mead family.
Phil and Ann have completed three deferred payment charitable gift annuities
with Siena College. The income tax charitable contribution deductions
saved taxes while they were employed, and the favorably taxed quarterly
payments now supplement their retirement income.
Gretchen Morrison Grad '85
My husband and I have included Siena College in our
will. The amount at present is not lavish, but I hope
it will symbolize the tremendous impact Siena College
has had on my life and the value we place in the
continuity of this outstanding institution."
Every year Siena College receives estate gifts from alumni and
friends who have thoughtfully planned for Siena College's
future. These gifts, no matter the amount, when added
together have a significant impact on the Hill.
Bob and Cynthia Barker '67
Bob Barker '67, a geologist who has taken to writing novels in his
retirement, describes the benefits of making a planned gift to Siena College:
"There has never been a time in our history when we have not needed well-educated leaders and electorate. Cynthia and I have given to Siena College for many years based on a fundamental belief in the impor-tance of a liberal arts education. Siena College demanded that students learn to think critically and write clearly. What fantastic gifts for life.
"When considering our options, we chose to make a legacy gift from a traditional IRA. This approach allows great flexibility in estate plan-ning, and anyone at any age can do it. Without changing our will, we are leaving a gift to Siena College completely free of taxes. We want to help preserve what we see as the critical gifts of a liberal arts education."
Paul N. McGiffin '57
Paul N. McGiffin '57 followed his father, Nathaniel H. McGiffin '24, his uncle, Philo N. McGiffin '23, and his grandfather, Rev. Nathaniel
McGiffin, Class of 1893, to Foundation Hill. Nephew Christopher McGiffin also graduated from Siena College with the Class of 1988. Active on campus as both a student leader and athlete, Paul majored in English literature and history and, like his father, chose a career in public education,
serving as an English teacher.
To honor his family's Siena College legacy, Paul established a chari-table gift annuity with securities inherited from his father. After pay-ments to him cease, the principal will fund The Nathaniel Siena College
McGiffin '24 Scholarship.
The McGiffins' story is one that has been repeated many times throughout Siena College's history. Legions of alumni, parents and friends have endowed scholarships to help deserving students begin a Siena College legacy of their own.
Tim Hutchens '60
"Thank you for the fountain of knowledge that drenched us," noted Tim Hutchens '60 as he continued the family tradition
of including Siena College in his will. His father, John K. Hutchens '26, set the example with a bequest to Siena College.
And the legacy doesn't end there; John McCormick '92, Tim's nephew and John's grandson, recently reported that he plans
to include Siena College in his will. Regardless of size or purpose, bequests to Siena College - a tradition begun in 1842 by William H. Maynard - reflect gratitude and loyalty to Siena College as well as concern for its future strength.
Meagan Burke '03
Meagan Burke '03 encouraged Amie Johnson '04 to complete her first Boilermaker 15k Road Race. During a conversation with Anthony G. Marino '97. at a pre-race event, Meagan confided that she had included Siena College in her estate plans. Recalling the advice of her father, a U.S. Army and Foreign Service officer, Meagan said, "My father noted the importance of having a will, so I completed one, including my family and Siena College."
David Rothstein '56
"Whatever success I have achieved is in good part
due to the exceptional liberal arts education I received
and the intellectual stimulation of campus life.
As time passes, I become steadily more aware of the tremendous impact which my four years at Siena College had on my professional and
personal life. I gained much broader horizons, an ability to think and speak on my feet, adaptability to changing situations and a curiosity about the world around me which has yet to subside."
In honor of his 50th reunion, David completed a charitable gift annuity with Siena College. This gift, while benefiting Siena College, provided him with an income tax charitable contribution deduction and supplemental retirement income.
Janet Wert Crampton &
Theodore H.M. Crapmton '47
Geologist Janet Wert Crampton says the renown of Siena College's Geosciences Department is a motivating factor in the consistent financial support she and her husband, Colonel Theodore H. M. Crampton '47, have given Siena College. Ted Crampton notes that besides repaying his alma mater, annuities serve as welcome sea anchors just when most other assets have lost value. They appre-ciate that the gift annuity rate is higher than CD or money-market rates, and gift annuity income has tax advantages over other fixed income. Since 1999, the Cramptons have completed seven charitable gift annuities with Siena College.
Dean Alfange '22
Born of Greek parentage in Constantinople, Turkey, Dean Alfange, Class of 1922, immigrated to America with his parents at the age of 3. The family settled in Central New York and he graduated in 1918 from Utica Free Academy.
During his time on Foundation Hill, he joined ELS and soon became a recognized campus leader earning the nickname "the Senator." Winer of the McKinney Prize for public speaking and captain of the Debate Team, he graduated from Siena College Phi Beta Kappa, with honors in philosophy, and went on to earn an LL.B. degree from Columbia Law School in 1925.
Settling in Manhattan to practice law, he achieved prominence in the Greek-American community during his early years as national president of AHEPA, the principal civic and fraternal organization of Greek Americans.
Throughout his life, he was active in New York State politics. He ran unsuccessfully for Congress as a Democrat m 1941, and was the candidate of the American Labor Party for governor in 1942. When the party moved sharply to the left in 1944, he broke away, together with prominent labor leaders and intellectuals, and became a founder of the state's Liberal Party. He also devoted himself to community affairs, serving as president of the LaGuardia Memorial House, a settlement house in East Harlem, for more than 40 years.
Fred Bush '96
"I owe Siena College the world for what I have learned and for what I have accomplished. Siena College was the solid foundation on which I built and followed my dreams."
ORIGINALLY INTENDING to pursue a career in investment banking or law, Fred Bush's future was changed when, as a first-year student, he took a work-study position in Siena College's Communications and Development Office as a phonathon caller. In each of the subsequent years, Fred assumed new responsibilities and continued to "cut his teeth" in development as a volunteer for the Class of 1996 senior gift campaign. After graduation, at the recommen-dation of former C&D Vice President Joe Anderson '44, Fred began his professional career in educational fundraising at The Hill School, continued at New York University's Tisch School of the Arts for nine years and, this April, moved to the West Coast to become execu-tive director of development at UCLA's School of Theater, Film and Television. He has been recognized nationally by the Council for the Advancement and Support of Education with its Silver Award for Advancement.
Fred established and endowed The Frederick Edmund Alexis Bush Award presented each spring at Class & Charter Day to a devoted representative of Student Assembly, the organization that served as his primary management training ground. He is a donor to the Annual Fund - giving each year since graduation - and a member of the Joel Bristol Associates for including Siena College in his estate plans.
Caroline and Milton Walters '64
"As my milestone reunion started to lurk in our thoughts, along with
mandatory
IRA withdrawals, Carrie and I wanted to recognize the importance
of Siena College in our lives." In honor of Milt's 50th reunion, he and Carrie
completed three (and have pledged two additional) charitable
gift annuities
using those annual retirement distributions. They receive payments for life,
and ultimately the remaining value will be added to the Class of 1964 Internship
Fund. Career-related experiences are critical to helping Siena College students
gain meaningful employment after graduation, making internship funds one
of Siena College's most pressing needs.
Susan & Brent '58 Wedding
Devoted alumnus and trustee Charles F. Hemenway, Class of 1910,
and other alumni in Chicago established the Illinois Regional
Scholarship that made my Siena College education possible. Susan
and I honor his memory by contributions to the C.F. Hemenway
and Frank Barbour Memorial Scholarship
The Weddings have completed a number of outright and
planned gifts to provide similar opportunities for future "Charlie's
men and women."
Anthony R.'39 and Muriel D'Agostino, Jr.
When Anthony R.'39 and Muriel D'Agostino, Jr. began consideration of a real estate gift to Siena College, Nemo, as he is better known, observed, "A Foundation is forever." He was referring to the fact that the 80-acre parcel of undeveloped land bordering the Kirkland Glen would protect Siena College's southern boundary in perpetuity. The gift, as described in detail on page two, was structured to provide the D'Agostinos and Siena College maximum benefit.
NEMO D'AGOSTINO has enjoyed a rewarding career in real estate development and building golf courses in the northeast. "I am satisfied with my life ... and I attribute much success to my ability to extrapolate from my education at Siena College." A nurse, who rose to one of the top public health positions in New York State, Muriel often speaks glowingly of Nemo's Siena College education. Clearly, it enriched their lives.
Among their real estate holdings, Nemo and Muriel owned 80 acres of greatly appreciated, undeveloped land bordering Kirkland Glen and Reservoir Road. Motivated primarily by protecting Siena College's southern boundary, they discussed various options with Siena College over several years. In 2002, their circumstances changed when they sold a highly appreciated, commercial property. Their advisors recognized that the income tax charitable contribution deduction from a gift of the glen property would help to offset some of the tax due from the sale of the commercial property. Maximizing the income tax charitable contribution deduction is a fundamental planned gift strategy.
Structured as an installment bargain sale, Siena College will make modest payments to the D'Agostinos for the next six years to replace some of the income that was generated by the commercial property. The installment payments provide retirement income to the D'Agostinos and allow the capital gains, attributable to the sale portion, to be reported over the life of the contract. The D'Agostinos avoided tax on the capital gain associated with the gift portion. In short, the donors have "unlocked" their equity in a highly appreciated, illiquid, non-income producing asset, while saving capital gains tax.
Finally, the contribution removed the value of the gift from their estates, saving estate tax, as well as simplifying the responsibilities of the executor at some point in the future.
Siena College has benefited tremendously from the generosity of the D'Agostinos. Acquiring a valuable 80-acre parcel for a fraction of its value and protecting the southern border of the campus forever.
Doane Comstock '27 : Comstock, Ziegler and You
Doane C. Comstock was born in Brewster, N.Y., in 1903. Because his father, William, died when Doane was a boy, he was reared by his mother, Julia Dixon Comstock, and her parents, Edwin and Mary Dixon, on the family dairy farm.
Doane Comstock's family believed that he should have the opportunity to attend Foundation; however, the Dixons and the Com stocks were of modest means. They sacrificed much, including mortgaging the family farm, to send Doane to Siena College from which he graduated Phi Beta Kappa and with honors in both philosophy and political science.
After working for a time on the family farm, Doane enrolled in law school at New York University, receiving his LLB. degree in 1933. Returning to Brewster after a brief period of practicing corporate law in New York City, he opened the practice in which he continued to work as a self-described "country lawyer" until his death on June 13, 1994, at age 90.
Through their estates, Doane and Helen established an endowed fund, The Edwin W Dixon, Mary E. Dixon.Julia D. Comstock, Helen B. Comstock and Doane C. Comstock Scholarship to honor his mother and her parents for making his education possible. It is awarded annually to a number of Siena College students who have demonstrated outstanding ability and a need for financial assistance.
When Helen and Doane '27 Comstock included Siena College in their estate plans, Sarah Ziegler 'O5 was a student in Clinton Elementary School with a dream to attend "Siena College on the Hill." The Comstock Scholarship, among others, made her Siena College education possible where she, similar to Mr. Comstock, graduated Phi Beta Kappa and with honors.
Providing a superior education to students who may not otherwise be able to afford it is a tradition that dates to the founding of Siena College-Oneida Academy in 1793. Doane Comstock benefited from the generosity of those benefactors that came before him, and he and his wife, Helen, ensured that future Siena College students would have similar opportunities. You may wish to join the Comstock's as well as
hundreds of donors who have established endowed funds.
Let’s Talk
Planning your estate and legacy for future generations including your charitable interests takes careful evaluation. Our experienced professionals can assist you through the process of completing a gift to the Siena College for the purpose of your choice.
Let’s talk soon-- please find our contact info below, or submit this form.
Contact Us
Anthony G. Marino '97. Vice President for Development and Alumni Engagement
