Embracing the Spirit of Fredonia

Paul Mockovak smiling

Paul Mockovak, Fredonia alumnus and faculty member, supports the Dallas K. Beal Legacy Society.

Dallas Beal was president of Fredonia during the time of my arrival on campus as an undergraduate and throughout my graduate studies.

Dallas embodied "the Spirit of Fredonia," as have his successors, with his influence on the campus, the community, the student body and me, personally. Combine that with the many distinguished professors I had the privilege to study with-including Maestro Harry John Brown, Dr. Jack Cogdill, Dr. Marion Sonnenfeld and Carol Prevet-and there is no doubt in my mind that a foundation in music, theatre and dance was established with the positive supportive educational spirit that is to me "the Spirit of Fredonia."

In reflecting on my commitment to the Dallas K. Beal Legacy Society, there are two intertwining branches linked by the trunk and roots of Fredonia:

  • To give back/pay it forward is one. I believe that much of who I am, and continue to become, has its foundation at Fredonia. This is an opportunity to assist, support and nurture a future contributor to society.
  • The second is "the Spirit of Fredonia" embodied by President Beal and continuing with current President Virginia Horvath through their respect for all people and the environment-commitments guided by integrity, collaboration and generosity - which makes us all stronger and benefits both giver and recipient.

It is a great honor to support the legacy of all these professors and the many other educators, artists, leaders and administrators so that those who are and those yet to be can also begin a journey that embraces "the Spirit of Fredonia."
—Paul W. Mockovak, '77, '81
Professor in the Fredonia
Department of Theatre and Dance

A charitable bequest is one or two sentences in your will or living trust that leave to Fredonia College Foundation 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

"I give to Fredonia College Foundation, a nonprofit corporation currently located at Fredonia, NY, or its successor thereto, ______________* [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 Fredonia 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 Fredonia 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 Fredonia 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 Fredonia where you agree to make a gift to Fredonia 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.

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