Office of Advancement and Alumni Engagement

Give Back to Get Back

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Prioritize year-end philanthropy to save on taxes

UMW Fall Branded Photoshoot 2023 photo of signpost with blue University of Mary Washington flag against maple trees on College Avenue. During the holidays, charitable giving is a great way to spread goodwill and make a positive impact. Not only does it benefit organizations and individuals that receive support, but you can also earn valuable benefits, such as owing less in taxes in 2025.

CASH GIFTS

Consider making monetary donations to Mary Washington and other charitable organizations before the end of the year. Many employers provide matching gift programs, which may still be available even if you or your spouse are retired. If applicable, obtain a matching gift form from your employer and submit it to UMW along with your donation.

Donating up to $100,000 can fulfill your annual IRA required minimum distribution (RMD). Although you won’t be able to claim a deduction, you’ll benefit from not having to pay taxes at your current rate. Ensure that your administrator makes the distribution directly to Mary Washington.

CAPITAL ASSETS

Assess what you already own, such as stocks, property, furniture, art, coin or stamp collections, jewelry, or other precious metals. If you intend to donate something other than publicly traded stock, a qualified appraiser can help determine its estimated value.

A gift of a capital asset to a qualified charity offers several benefits:

  • You avoid paying capital gains tax.
  • The asset is removed from your estate, which can reduce the tax burden for your beneficiaries.
  • There are savings on the costs of maintaining, insuring, and repairing the asset.
  • You may be eligible for an income tax deduction of up to 30% of your adjusted gross income for the current year. If the deduction exceeds this limit, you can carry it over and use it over the next five years.
  • You experience the satisfaction and joy of knowing your asset is being used in a meaningful way.

ESTATE PLANNING

Now is an ideal time to review your will and account records to ensure beneficiary information is up to date. If you’ve included Mary Washington in your estate plans, please reach out to the Office of Gift Planning so we can assist in honoring your wishes.

LEARN MORE

Visit https://giving.umw.edu/make-a-gift for information about cash gifts, IRA distributions, matching gifts, and direct stock transfers. If you have questions or would like to learn more about giving options, please contact Jan Clarke at jclarke@umw.edu or 540-654-2064. As always, consult with your legal and tax professionals.

– Article written by Assistant Director of Advancement Communications Jill Graziano Laiacona ’04 for the Gift Planning Connections newsletter, Fall 2024

A History of Giving Back

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Alumna’s gift honors her past while looking toward the future

If Gloria Shelton Gibson ’69 could pick one person at Mary Washington who made the greatest impact on her life, it would be her history professor and advisor, Andrew Buni.

Gloria Shelton Gibson '69 established an endowment for the Department of History through her estate. Photo by John Bambach.
Gloria Shelton Gibson ’69 established an endowment for the Department of History through her estate. Photo by John Bambach.

“He challenged me, pushed me, and taught me to think,” said Gloria, who tracked down her former professor years later to thank him for his encouragement.

She has also thanked her alma mater, establishing the Gloria Shelton Gibson ’69 Program Endowment in History through her estate plan, which earned her a spot in UMW’s Heritage Society. Funds will help history students and faculty attend academic conferences, host guest speakers, engage in professional development, and more.

“I wanted to fund something outside the budget that was meaningful for the department and students,” Gloria said. “If Mary Washington made a difference in your life, you can help a future scholar by making a legacy gift to the University.”

Growing up in Halifax County, Virginia, Gloria learned about Mary Washington from her high school history teacher, who helped her secure a private scholarship. Gloria quickly fell in love with the Georgian-style architecture and green spaces on campus, and the generous faculty who fostered her love of learning. She majored in history, she said, because “it’s important to understand how our country came into being and has evolved.”

Gloria Shelton Gibson '69 is welcomed by President Troy Paino at the reception at Brompton during Reunion Weekend in 2024. Photo by Karen Pearlman.
Gloria Shelton Gibson ’69 is welcomed by President Troy Paino at the reception at Brompton during Reunion Weekend in 2024. Photo by Karen Pearlman.

Gloria had many special moments at Mary Washington, including joining the Junior Dance Company, serving in student government and as a junior counselor in Virginia Hall, and being inducted into Mortar Board. But one of her favorite memories was performing in an emotional dance called War Widows at the height of the Vietnam War. “Many of my classmates had married Marines, some of whom never came home.”

After graduation, Gloria earned a master’s degree in teaching and taught social studies before beginning a decades-long career in human resources in Charlotte, North Carolina. “It was the right fit for me,” said Gloria, who has also served on numerous nonprofit boards.

For Mary Washington, Gloria has also been involved in the Charlotte Regional Alumni Network and helped publish the Mary Washington Alumni cookbook. She regularly attends Reunion Weekend and has donated to the Beyond the Classroom Endowment, the Class of 1969 50th Reunion Scholarship, and other areas across UMW.

“I don’t think I can put into words how much Mary Washington has meant to me,” Gloria said. “I hope
my gifts show an appreciation for how I was helped along the way.”

For more information about estate planning, contact Jan Clarke at jclarke@umw.edu or 540-654-2064.

-Article written by Assistant Director of Advancement Communications Jill Graziano Laiacona ’04 for the Gift Planning Connections newsletter, Fall 2024

Bringing the Past Into the Present

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Scholarships help history and Spanish major achieve her dreams

At the University of Mary Washington, Ruth Curran ’25 discovered a passion for social history, researching what a person experienced during a historical event or period.

Ruth Curran '25 earned scholarships to major in history and Spanish at the University of Mary Washington. Photo courtesy of Ruth Curran.
Ruth Curran ’25 earned scholarships to major in history and Spanish at the University of Mary Washington. Photo courtesy of Ruth Curran.

“It shows us how we are connected to people from long ago and can increase our empathy and understanding of people around the world today,” said Ruth, whose own story wouldn’t be possible without those who came before.

She’s especially grateful for the donors who established the Hamlin A. Caldwell Jr. and Joseph C. Vance Memorial Scholarships in History and the Ethel R. Chrisman ’48 Modern Foreign Language Scholarship. These awards have helped Ruth major in both history and Spanish, while working as a yoga instructor and a server in a restaurant to support her family.

“These scholarships have lightened my financial load so I can focus on my education while being a single mother and a commuter student,” said Ruth, who first visited UMW with a friend, not realizing how close the campus was to home. “Hearing about his success here made me feel like I could finally finish my education, which I had wanted to do for so long.”

Ruth chose to study history after realizing how much historical misinformation could be found on the internet. “It’s critical that we look at history accurately and objectively, exploring different perspectives to see things from new angles,” she said.

That outlook influenced her decision to pursue a master’s degree to become a librarian and help the public access information. Her Spanish major will help her interact with diverse communities, she said.

“It’s a career that’s in line with my values,” said Ruth, who recognizes the role her scholarships have played in her present and future. “I appreciate that my donors have invested in my education and empowered me and other students to reach our goals.”

For more information about creating scholarships now and through your estate plans, contact Jan Clarke at jclarke@umw.edu or 540-654-2064.

– Article written by Assistant Director of Advancement Communications Jill Graziano Laiacona ’04 for the Gift Planning Connections newsletter, Fall 2024