Chances are you will find few individuals more supportive of Fredonia and the Fredonia/Dunkirk community than Ann and Doug Manly. A desire to share their good fortune with the community that has been such an important part of their lives has led to them making a very special gift to the Fredonia College Foundation.
As community servants who have always given generously of their time, talents and financial resources, Mr. and Mrs. Manly spent a considerable amount of time exploring ways in which they might significantly impact the future of the university as well as serve their personal financial goals. Establishing a charitable remainder trust created a win-win scenario, whereby the Manlys would receive payments and tax benefits from the trust, and the university will gain the principal in the future. Mr. Manly, in his characteristic understated manner, said that creating the trust at this time in their lives "made good sense for everyone." While their philanthropy is generally as quiet as it is generous, the Manlys agreed to share their story because they hoped to encourage others to discuss this option with their own financial planners.
Mr. and Mrs. Manly's intention in setting up their trust is to support students with high financial need, the potential for achievement and a love for learning. Mrs. Manly cited Fredonia's Keeper of the Dream scholarship as an example of the type of philanthropy she hopes their trust will evolve into- helping students "realize a dream." The couple also has a strong commitment to multiculturalism and international understanding, and feels the trust could support programs in these areas, which don't necessarily fit the mold for state support but help create excellence.
The couple's philanthropy at Fredonia already includes membership in the Dallas K. Beal Legacy Society and scholarships endowed in memory and honor of their late son, David E. Manly, a scholar and successful international business executive.
The Manlys have been valued members of the Fredonia family for many years. A highly respected businessman, Mr. Manly served as a member of the Fredonia College Foundation Board of Directors for nearly a quarter of a century and was chair of the board of directors during the university's very successful first capital campaign. Mrs. Manly, a former teacher and guidance counselor, has been a member of the Fredonia College Council since 1993. Twice she has helped lead council members in a "Thankathon" phone effort, an idea she initiated, to thank supporters of the university in a very personal way.
In accepting this wonderful gift, President Dennis L. Hefner said, "The Manlys have served Fredonia in so many ways, and this wonderful gift is just another example of their devotion to the university. That they would choose a way in which to help future generations of Fredonians is heartwarming and in character with their commitment to this community and to higher education."
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.