marygrove college alumni

Class of 1929

Alma Mary Stueve

Alma Mary Stueve

Although every graduating class at Marygrove is significant and special, there are times when things happen that are so unique, so remarkable, they make us take notice. What's remarkable about the Class of 1929 is that it produced three young women who would go on to share with Marygrove, among the most significant gifts the College has ever received.

Alma Mary Stueve wanted to directly help students and subsequently bequeathed The Alma Mary Stueve Scholarship. The scholarship is provided to at least three students each year who major in one of the natural science disciplines, international business, or choose to study abroad.

Evangeline Sheibley Hyett

Evangeline Sheibley Hyett

Through the generosity of Evangeline Sheibley Hyett and her sister Genevieve Sheibley, the Albert Franklin Sheibley M.D. Fund was established for the education of students in the health care professions, as well as for the physical, emotional, and spiritual care of Marygrove College students. Their generosity also helped to refurbish the southeast wing of the Liberal Arts Building to what is now referred to as the The Sheibley Wing.

The generous gifts these women shared with Marygrove signify their belief in the transformative power of a Marygrove education. They are also a testimony to their faith in the future of Marygrove College and for this we are grateful. There is one last person from this group of three, however, that deserves special note, and that is Elizabeth Clinton Keenan.

Elizabeth Clinton Keenan

Elizabeth Clinton Keenan

Elizabeth was born in Holton, Michigan and raised in Butte, Montana. After graduating from Marygrove, she married Dr. James M. Keenan and settled in Seattle. She was a generous woman who, although very well-to-do, insisted that the people she employed were always well paid and well cared for. Elizabeth passed away at age 103 on April 25, 2010.

Elizabeth Clinton Keenan's passing was like a shower of pebbles raining into the water, for she bequeathed virtually her entire estat—valued in excess of $4 million—to her alma mater, Marygrove College. This bequest represented the single largest monetary gift received by our beloved institution at the time. That Elizabeth believed in what Marygrove represents and had faith in its future, is apparent in her amazing gift.

Marygrove College Alumni Association
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A charitable bequest is one or two sentences in your will or living trust that leave to Marygrove 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 Marygrove College [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 Marygrove 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 Marygrove 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 Marygrove 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 Marygrove where you agree to make a gift to Marygrove 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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