Meet Our Donors
John (’58) and Marilyn McDonough are Passionate about Giving
For Marilyn and John McDonough (’58), philanthropy is a passion. The McDonoughs have provided leadership to the Juvenile Diabetes Research Foundation (JDRF) for years: John was diagnosed with juvenile diabetes at age six. His lifelong crusade to eliminate the disease has led him to speak nationally on behalf of JDRF and to serve as chairman of the foundation’s international board of directors.
The McDonoughs’ philanthropy extends to Notre Dame, where they support the Center for Social Concerns (CSC). “Fr. Don McNeill, who founded the center in 1972, is a classmate of mine, and I have always believed in the work done through the CSC. It teaches our students the importance of using their God-given talents and education for the benefit of others. Notre Dame students are very much a force for good in the world.”
John has created several charitable remainder trusts (CRTs) to provide funding for CSC programs. He and Dick Phelan (’58), with whom John co-chairs the Class of 1958 Reunion Gift Committee, are also leading efforts to encourage other members of their class to gift the CSC in honor of their classmate, Fr. Don. “Our hope,” says John, “is that through our class’s efforts, the CSC might be endowed for future generations of Notre Dame students.”
Learn more about CRTs and the benefits of investing CRTs in the Notre Dame Endowment.
Photo: John and Marilyn McDonough (At left) with John’s college roommate, Jack Revord, and his wife, Cornelia.
Donor Finds Multitude of Benefits in New Endowment Option
As a senior director of Goldman, Sachs & Co., Bob Conway ’66 knows a good deal when he sees one. And, as a graduate and longtime Notre Dame Trustee, he is always looking for ways to help his alma mater.
In 2004, Bob learned that Harvard University had received a ruling from the IRS that would permit charitable remainder trusts to be invested in units of the university’s endowment. Knowing the outstanding historical performance of the Notre Dame endowment, Bob was pleased to learn that Notre Dame planned to pursue a similar ruling.
“One of the compelling elements for me was the possibility that the money would be managed by Scott Malpass and his team, as opposed to being placed in a bunch of mutual funds and government securities,” Bob recalls. “Given the University’s investment record, I know they can manage the money better than I can.”
In the past, Notre Dame invested charitable remainder trusts in mutual funds. With the recent IRS ruling, such trusts can be invested in a manner to earn the net rate of return of the Notre Dame endowment. Qualifying charitable remainder trusts can take advantage of diversification and investment opportunities not typically available to the average investor or mutual fund manager.
In Bob’s case, he used appreciated real estate to fund his trust. He was able to defer capital gains taxes and benefit from an immediate charitable deduction.
“It was the combination of the knowledge and good work of Notre Dame’s gift planning staff, the allure of having assets managed by the ND Investment Office, the availability of a substantial charitable deduction, the opportunity to defer capital gains tax, and a significant income stream,” he says. “All of those factors made this an easy decision for me.”
Paul Riffel (’60, ’63) Places Charitable Trusts with ND Endowment
Paul Riffel and his wife, Liz, were both Catholic school teachers. When Liz passed away, Paul decided to establish a $100,000 charitable remainder trust (CRTs) to benefit the Alliance for Catholic Education (ACE) at Notre Dame. ACE prepares recent graduates to teach and administer in underprivileged Catholic schools throughout the United States.
After learning of the 2006 ruling made by the Internal Revenue Service that permits qualified CRTs to be invested in the Notre Dame Endowment, Paul decided to transfer his existing trust into the endowment, as well as to establish a second $100,000 trust to benefit the ACE program. “When I heard about the IRS ruling,” he says, “my first thought was, ‘I’d love to be on that bandwagon!’”
The Notre Dame Endowment continues to be one of the best-performing endowments in all of higher education. During fiscal year 2008, the endowment earned 5.8 percent while most of our peer endowments were down an average of almost 5.0 percent. The endowment's annualized return over the past 15 years is 14.4 percent.
Learn more about charitable remainder trusts invested in the Notre Dame Endowment.
Jim Cahill (’55) Honors Family with Charitable Gift Annuities
Jim Cahill knows the devastation cancer can wreak on a family. He lost his wife, Barbara, to brain cancer when she was just 34. On his own, he raised their two small children, a son, Kevin, and daughter, Missy, who would grow up to attend Notre Dame just like her father. Tragically, at the same age as her mother, Missy lost her own battle with brain cancer.
In 2005, Jim honored his wife and daughter by establishing the Barbara Cahill and Missy Cahill McKnight Endowment for Excellence for Undergraduate Research at the Walther Cancer Research Center at Notre Dame. The fund will assist student interns in the field of cancer research and is supported by charitable gift annuities (CGAs) invested in the Notre Dame Endowment.
Jim chose CGAs so that his gift could grow, benefiting from the excellent returns of the University endowment. In addition, Jim receives steady quarterly payments from Notre Dame for his lifetime. He also decided to provide additional funding for undergraduate cancer research at Notre Dame through his will.
“I am so thankful to be able to honor two beautiful women and our beloved alma mater with funds to encourage students to pursue cancer research. So many families have been affected by this disease. It is time to put a stop to it.”
Read more about charitable gift annuities or including
Notre Dame in your will.
Badin Guild Members Joan and Chuck Lennon (’61)
Joan and Chuck Lennon had five young children when Chuck, the longtime executive director of the Notre Dame Alumni Association, came home one evening and said to his wife, “Notre Dame is starting a new society next week called the Badin Guild. What if we just put a little something in our wills?”
Twenty years later, Joan and Chuck’s commitment to Notre Dame is as strong as ever. “After providing for their families, I hope our alumni and friends will consider including Notre Dame in their wills,” Chuck said recently. “It is important to support efforts that make the world better. Notre Dame does that.”
Read more about including Notre Dame in your will.
Ron Dvorak (’61, ’66 MA) Supports Scholarships through Bequest
Ron Dvorak never forgot that he was able to attend Notre Dame because of a scholarship. After working at St. Rita’s High School in Chicago for 30 years, Ron passed away in November 2005. “He wanted to give back what was given to him,” said his cousin, Joe Grzetic. With a bequest gift of $160,000, Ron established the Ronald J. Dvorak endowment which will provide scholarships for countless future generations of Notre Dame students.
Read more about creating a gift for Notre Dame through a bequest.
Don Seifert (’49) Provides for University, Himself through CGA
Don Seifert, of Leawood, Kansas, knew that charitable gift annuities (CGAs) were available at many not-for-profit organizations. His interest—and initiative—helped Notre Dame to jumpstart its own CGA program. Soon thereafter, Don established one of the University’s first CGAs with a gift of $20,000.
“Most seniors over the age of 70 or 75 are like me,” says Don. “We can use a little extra income and some charitable deductions, too.” A CGA seemed like a simple solution to me, and I am glad to be able to help Notre Dame.” Don is so enamored of the benefits of planned gifts, in fact, that he recently established a charitable remainder trust, in addition to his CGA.
Learn more about charitable gift annuities and how you and a loved one can receive steady income for life.
Dr. Ralph B. Davis (’42) Supports Notre Dame in Life and Death
Dr. Ralph B. Davis came to Notre Dame as a young seminarian, and his affection for his beloved Fighting Irish lasted a lifetime. Dr. Davis taught chemistry at Notre Dame from 1951 to 1969, working as part of the science team that holds patents for many items in heavy use today, including Neoprene.
Dr. Davis and his wife, Ann, established a charitable remainder trust that passed to Notre Dame upon his death in February 2007. His unrestricted gift of $5.25 million will help the University to create extraordinary educational opportunities for many students.
Read more about charitable remainder trusts at the University of Notre Dame.
