Starting Anew
while Staying True to Carleton Values
As Carleton welcomed its 12th president, Alison Byerly, last summer, it marked the start of many new beginnings on campus. The Board of Trustees approved a 10-year strategic plan for inclusion, diversity, and equity at Carleton, and for the first time, this summer the college recognized Juneteenth as an official college holiday.
The Joseph Lee Heywood Society also welcomed a new leader, Director of Planned Giving Melissa Saunders '01. "I'm so grateful for this opportunity to support Carleton and work with our alumni," she said. "The Carleton community is filled with amazing, loyal, and thoughtful people who truly care about improving students' lives through a liberal arts education. I'm excited to get to know more of them!"
Of course, many things remain the same: Faculty members are just as innovative and rigorous, alumni are just as dedicated, and Heywood members are just as generous and kind.
And, of course, the future is as bright as ever for Carleton students.
Bequests, charitable gift annuities, and retirement assets, along with many other options, are powerful ways that you--the members of the Heywood Society–-are providing resources that will educate the world’s scientists, artists, engineers, teachers, doctors, and more in perpetuity.
President Alison Byerly
Sustaining the Spirit of Carleton
Life, says Dan Peterson ’72, sometimes goes by more quickly than you think. It seems like only a few reunions ago he was telling someone he couldn’t imagine reaching his 50th reunion—and now, here it is.
“The good part is you don’t worry any more about weight gained or gray hair—it’s just nice to see old friends,” he said.
As Dan and his wife, Mary Lindahl Peterson ’72, looked forward to reconnecting with their peers and alma mater, the milestone also prompted them to stop and think: What kind of legacy did they want to leave?
“We’d been working on our family trust,” said Mary, “and wanted to use that to recognize Carleton for the solid foundation it provided to both of us.”
As a biology major, Dan became a doctor known for bringing national attention to Myalgic Encephalomyelitis/Chronic Fatigue Syndrome; Mary, an English major, led Nevada’s Department of Education as superintendent of public instruction for two terms, focusing on academic standards and accountability. Yet their recollections of their days on campus ring most loudly and clearly with music.
“In my career, I had to do a lot of public presentations in front of legislative committees, and I credit my music experience for my ability to do that,” says Mary. “When you perform in front of a crowd, sometimes you’re good, and sometimes you’re terrible, but you learn you can do it. I had to be prepared and articulate—all the foundational things I learned at Carleton.”
Anywhere other than Carleton, Mary said, likely wouldn’t have encouraged—or even allowed—her to take private music classes as a non-major. But in Carleton’s liberal arts setting, music gave her confidence (and introduced her to her lifelong partner).
In honor of their positive experiences with music at Carleton, Mary and Dan will use their estate to create two endowed professorships, one in music and one in earth sciences, also acknowledging fond memories of Cowling Arboretum.
“We hope this gift helps provide a positive college experience to other young people in the future, like ours was,” Mary said. “It’s the quality of teaching that professors deliver and their willingness to engage with individual students that distinguishes high-quality education.”
And while the professors they knew and loved—like Enid Woodward, Bill Nelson, and William Muir—have left campus, others have stepped in to fill their shoes. Change may be quick, as Dan said, but still, some things stay the same.
“The basics at Carleton haven’t changed in 50 years,” Dan said. “There are a lot of new buildings, and it has been kind of a shock to learn that some buildings are gone. But the spirit is still the same.”
CGA Interest Rates Are Going Up
What is a Charitable Gift Annuity?
A charitable gift annuity is a strategic way for people over 65 to donate a fixed amount to the college and, in return, receive a tax deduction and annual income payments. Payments are fixed and will remain constant regardless of market volatility. Donors can also choose to defer an annuity, resulting in larger annual payments, which would begin to pay out when the donor chooses after a minimum of one year.
How Does an Increase in Interest Rates Benefit Me?
As of July 1, 2022, charitable gift annuity rates increased 0.4 percent to 0.6 percent for most individuals, meaning annual payments will increase! For example, a 75-year-old contributing $10,000 in February 2022 would have locked in $540 annual payments; for someone that age creating a CGA in July 2022, those annual payments will be $600. The increase in payout rates is even larger for deferred annuities.
How Can I Take Advantage of This Great News?
Because of this increase, now is a great time to set up a CGA—and even if you already have a CGA, you can always create another! You can calculate your potential payments by clicking the link below, or if you prefer, feel free to contact us at any time for help.