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Planned Giving

Meet the Donors - Members of the 1904 Society

John Barnosky, Esq. ‘64
After attending Assumption College, John “Jack” Barnosky went on to study at St. John’s University and New York University Law School, eventually being named one of The Best Lawyers in America in 2012. Jack established an endowed scholarship for current Assumption College students with financial need.

† Domenic Ciancarelli ‘65
Domenic Ciancarelli worked through school to pay for his own education. After becoming successful in glass manufacturing, Domenic decided to leave a gift in his will, saying “Assumption deserves this support since they were so good to me!” 

Carolyn Clancy ‘82
Carolyn Clancy studied business management and mathematics at Assumption, while playing field hockey on the College’s team. Carolyn has been named to the Assumption College Alumni-Athletic Hall of Fame, and has received the Jack L. Bresciani ’72 Outstanding Alumnus Award. Carolyn elected to donate money for a scholarship to benefit female student-athletes with financial need, in honor of her parents. 

Thalia Vitikos ‘77
Thalia VItikos is a expressive arts therapist, and uses music, art, dance, and poetry to help patients accept, understand, and express their emotions and thoughts. Thalia has decided to include Assumption in her will to establish a scholarship. She is funding the scholarship with her individual retirement account. 

William ’92 and Mary Waldron
Will Waldron is the Director of Development at McLean School in Maryland. He and his wife are strong believers in Catholic education, and have decided to include their alma maters in their life insurance policy to provide for the future needs of the College. 

Jeffrey ’01 and Jessica Rawson
Jeff Rawson began working for Rawson Materials after graduating from Assumption, eventually becoming president. Jeff believes it is his responsibility and the responsibility of his company to give back to their communities, and was a finalist for the Hartford Business Journal’s Nonprofit Heroes Volunteer of the Year Award. Jeff and Jessica have named Assumption College in their estate plans.

eBrochure Request Form

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A charitable bequest is one or two sentences in your will or living trust that leave to Assumption College a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

Bequest Language

I, [name], of [city, state, ZIP], give, devise and bequeath to Assumption College in Worcester, Massachusetts, [written amount or percentage of the estate or description of property] for its unrestricted use and purpose.

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to the College or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to the College as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to the College as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and the College where you agree to make a gift to the College and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.