Reflections Magazine Issue #50 - Spring 1999 | Page 2

Gifts 2 Giving Ways: Choose different methods to make a difference for Siena Heights Outright gift: Endows scholarship for at-risk students Inspired by the work that Patrick Irwin ‘86 is doing to redirect the lives of inner-city teens, Betty Cummings ‘82 of Ann Arbor has endowed a scholarship in Pat’s name to aid at-risk students at Siena Heights. She established the Patrick Irwin Scholarship Fund to help needy students who may not have been high achievers in high school, but who have shown the ability to try hard and the desire to better themselves. Because Betty endowed the fund with an outright gift, the first scholarships will be awarded this fall. Because she designated her gift for the endowment, which generates income annually, the scholarship will support students for years to come. “One of Siena’s greatest attributes has been its ability to reach out to lower-income students and provide an opportunity for them to improve their lot in life,” says Pat Irwin, who credits Siena Heights and the Adrian Dominicans with turning his own life around. “What we are doing takes teamwork,” says Betty, who earned her degree as a non-traditional student in Adrian. “I contribute what I can. Pat contributes in his way.” Others can contribute, too, directing additional gifts to the Irwin Fund. Alumni Board President Judy Lavelle ‘58 Vice President Debra Parish Spann ‘89 Past President Mary Hellner Lash ‘88 Board Members Amanda Adams ‘97 Donna Kisner Baker ‘84 Terrence Beurer ‘80 Petrina Biondo ‘72 Diane Moro Deveau ‘70 Scott Dienes ‘90 Elizabeth Dolan, OP ‘46 Cindy Doyle ‘72 Joann Phillips ‘93 (LMC) Mary Phillips ‘71 Alexandra Harvey Quinn ‘91 Earl Reber ‘88 (LMC) Lawrence Richardson, Jr. ‘76 Tara Severhof ‘98 Susan Strupulis ‘95 (KCC) Insurance Gift: Honorary Member Looks ahead to future scholarships Sr. Marie Irene Miller, OP ‘36 David G. Stevens ’81 of Livonia found a convenient way to make a major gift to Siena Heights: He transferred ownership of a $350,000 insurance policy to the University. Eventually, proceeds of the policy will establish an endowed scholarship. David has been able to make a truly significant gift without increasing his own financial burden. Since he is no longer making premium payments to the insurance company, he can redirect those funds as gifts to Siena; then the University, as the new policy owner, pays the premiums. Siena benefits in the future from a major gift; David benefits immediately from increased tax benefits with no additional outlay. “David’s experience demonstrates the win/win giving that is possible with long-term planned gifts,” said Vice President for Advancement Don Taylor. “We are very grateful.” A long-time employee of the Ford Motor Company, David has been a loyal supporter of Siena Heights since earning his Bachelor of Applied Science degree at the Metropolitan Detroit Program in Southfield. His enthusiasm for Siena, coupled with an interest in history, made him want to support education. Thus, the scholarship he creates in the future will assist students enrolled in Siena’s teacher education program. Reflections Staff Editor: Jennifer Hamlin Church, Assistant Vice President for Communications and Constituent Relations Graphic Designer: Richard T. Mertens, Publications and Public Relations Specialist Contributors: Deb Carter, Dean of Off-Campus Academic Affairs Lynne Redman Hill, Director of Alumni Relations Charitable Gift Annuity: Scott McClure, Sports Information Director Offers two-way benefits Steve Ott, Communications Specialist An alumna of the class of ‘39 has maintained strong ties with Siena Heights since her student days at what was then St. Joseph College. This donor has now found a generous way to express her affection for her alma mater. Through a $100,000 stock transfer to Siena Heights, she has established a charitable gift annuity which will provide regular income to cover her own financial needs while guaranteeing a major gift for Siena Heights in the future. Ray Casey Photography “We are so pleased that this alumna has chosen to honor Siena in this way,” Taylor said. “Charitable gift annuities are another example of the win/win benefits of a planned gift.” With a charitable annuity, donors are able to pay greatly reduced capital gains tax on appreciated stocks or other assets while making a significant gift. Most important, the annuity generates regular income for the remainder of the donor’s lifetime. ©1999. Siena Heights University. Reflections is published by the Communications Office at Siena Heights University. Send correspondence to: Office of Communications, 1247 E. Siena Heights Drive, Adrian, MI 49221 or phone [phone] or e-mail [email protected]. Lad Strayer Photography Student Assistants: Eric Baylis ‘02 - Martha Dwyer ‘99 Karla Pennington ‘00 - Crystal Starkey ‘00 n