Rick and Terry Giorgetti: "We Believe in Perfect Timing"

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Rick and Terry Giorgetti

At dawn of the first day of SCU's 1968 spring break, Rick Giorgetti '70 was shaken awake by his college roommate returning from Salinas and was reminded of the ski trip he was to leave for—in five minutes! Stumbling out of his Santa Clara University dorm room, he caught the bus just as it pulled away from the curb.

"There was one open seat left on the bus," he says. "And that was next to Terry (Tarantino '71)."

In just a few years, after Rick and Terry had graduated, they would be married. It's a story that would make anyone think that some matters in life are meant to be—the irresistible influence of the right place at the right time. But the rest of their story shows the power of planning.

Right from the start of their marriage, charity would be paramount to their busy lives. However, like many newlyweds fresh out of college, they were not in a position to write large checks. "We were taught that we have God-given assets, meaning talent, time and treasure," says Terry. "You can always find ways to give back."

So in those early years, they leaned toward time and talent, helping fundraise for several causes, which included Holy Family Church, Presentation High School, Rotary and Santa Clara University's Bronco Bench Foundation, which raises money for athletic scholarships. As the treasure portion of the equation grew, they become more active donors as well.

Their fundraising experience had familiarized the Giorgettis with planned giving, and it was a natural fit to ensure that the church, schools and organizations they supported for years would continue to receive that support onward. "Anybody can do this," Rick says, of bequeathing a life insurance policy to charity. "It doesn't take an enormous fortune to do what we did."

"What is important to me is that students are going to benefit," Terry adds of their contribution to SCU's Bronco Bench. "The value of the Jesuit education was not only great for me, but it's a value for the community. Because those that graduate from Santa Clara do great things for the community—they're not just living for themselves."

Or put another way, it's a legacy that finds more people—during an important time in their lives—in just the right place.

Learn How You Can Help
To learn about the many ways you can make a planned gift to support Santa Clara University, contact the Gift Planning team at 408-554-2108 or giftplanning@scu.edu">#[Email] today, at no obligation.

A charitable bequest is one or two sentences in your will or living trust that leave to Santa Clara University 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 Santa Clara University, a nonprofit corporation currently located at 500 El Camino Real, Santa Clara, CA 95053-1400, 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 SCU 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 SCU 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 SCU 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 SCU where you agree to make a gift to SCU 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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