6 minute read
LEGACY SPOTLIGHT
LEGACY SPOTLIGHT: Class of 1966 Scholarship
It’s no secret that Millikin has been blessed with thousands of loyal alumni and friends who give their time, talent and treasures to the University. For Class of 1966 donors Nike Smyth Whitcomb and Robert “Bob” Givens, giving back to Millikin brings a smile of satisfaction to their faces—one that is plainly shared by many of their classmates. Since Nike and Bob conceived the idea of a Class of 1966 scholarship in 2016, they, along with their fellow classmates and alumni, have raised more $50,000 for deserving Millikin students.
Both Nike and Bob are well-known among the Millikin alumni community as generous givers, not solely of financial support, but also of countless hours of their time and thoughtful leadership. Nike, the 2014 recipient of the Alumni Merit-Loyalty Award, acted as class agent for many years, served as consultant for two highly successful capital campaigns at Millikin, and is a member of the Investors Society. Bob has served as class agent since 2011. He is also a member of the Investors Society, and a current member of the Board of Trustees. Together Bob and Nike, as well as classmate and Alumni Association Board member Sue Vaughan Nelson, co-chaired the class’s 40th, 45th, and 50th Homecoming reunions.
The idea of a Class of 1966 scholarship grew out of their combined efforts. Nike and Bob were both searching for a way to help future students benefit from the Millikin campus experience and education. Nike and a group of her Class of 1966 Delta Delta Delta sorority sisters found themselves discussing the idea as their 50th reunion approached. At about the same time, Bob brought the idea up during a conversation with President White in Florida. “Great minds think alike!” said Nike.
The pair decided to introduce the scholarship as part of their 50th class reunion in 2016, but are quick to extend the credit for the success of the scholarship to the support from their fellow classmates. More than 15 classmates from 1966 were among the scholarship’s initial donors, and the first three scholarship recipients were introduced at the class reunion dinner at Homecoming.
“The reunion was a great impetus to begin the process, since so many of us were gathered together,” said Bob.
Since its creation in 2016, the Class of 1966 Scholarship has been awarded on an annual basis, typically given in $3,000 increments to those with a demonstrated financial need, including outstanding students like
Bob Givens, Jordan Williams ’20 , Jean Haher Buttz, Sophia Schwalbach ’19 , Nike Smyth Whitcomb, Matt Brown ’20 and Josh Miller ’18
Serena Black ’20 (see Q&A, page 3). Mary Kay Gisolo Burton, Jean Haher Buttz and Sue Vaughan Nelson, 1966 classmates, have joined Nike and Bob as part of the selection committee.
Nike said, “I was astounded by their work ethic and the fact that they still made time to be engaged in campus activities. When do they sleep?!”
Now this group of 1966 classmates has decided to set some new fundraising goals. Nike said, “We believe that, given the right opportunity, many of our classmates are willing and financially able to do more to help Millikin. We want to provide them with an opportunity to do so.”
“We have received many notes from classmates about how personally rewarding it is for them to be able to give to Millikin and see great results with the caliber of our scholarship recipients.” Bob said, “We would like to raise awareness for another great way to give to our university.”
Many donors, particularly those from the 1950s and ’60s, may not realize how their required IRA distributions can be used to benefit Millikin—while also giving them a tax break. This method of giving is commonly referred to as an IRA rollover. Here’s how it works:
IRA owners must begin taking required minimum distributions (RMDs) once they reach age 70 1/2. In most circumstances, the distributions are subject to regular income tax. However, by instructing your IRA administrator to direct your RMD to a charitable organization like Millikin, the gift completely avoids income taxation. Donors can contribute up to $100,000 per calendar year via their IRA rollover.
For the past several years, both Nike and Bob have used these required minimum withdrawal funds to provide charitable gifts that avoid taxation. “The decision point is, ‘Do I need this money?’ Folks have to take their RMDs. If you don’t want to pay the income tax and are already considering making a donation, then it just makes sense to use your IRA distribution to do it,” said Bob.
“Making an IRA gift was as simple as calling my financial advisor and telling him where to direct my distribution,” said Nike. “It was a one-minute phone conversation, and the joy I created by doing that was a wonderful way to end my year.”
Nike and Bob are also encouraging their fellow alumni to become members of Millikin’s Investors Society. “Including Millikin in your estate plans is a great way to help young students come to college who cannot afford it,” said Bob. Along with Nike and Bob, Robert Jackels, Barbara Kuhns, and Erma Lawrence have joined the Investors Society.
A call to your attorney can set this process in motion, after which you we encourage you to let the Alumni and Development Office know you have made a provision for Millikin as part of your will or estate plan.
In typical fashion, Nike has set a challenging goal for her class: “I hope that at least twenty-five people from our class will take the opportunity this year to join the Investors Society. We should all see this as a wonderful way to support Millikin.”
If you are interested in learning more about the Class of 1966 Scholarship or about making an IRA rollover gift, please contact the Alumni & Development Office at 217.424.6383.
Q&A
Serena Black ’20 Class of 1966 Scholarship
Tell us about yourself.
My name is Serena Black. I'm a senior studying accounting and finance in the Tabor School of Business. I work at J.L. Hubbard Insurance and Bonds as a customer service representative, and I will soon be licensed in life and health insurance production.
I'm the type of person who always has to be busy. I work as much as I can to pay for school, but I also stay busy during my downtime. I serve as treasurer for a group called Women in Business, and I also love to read, play my guitar and compete in pool tournaments (billiards, not swimming!). I’ve competed in billiards tournaments for the last five years and have won multiple national titles. The highlight of my career thus far was traveling to Shanghai to compete in the 2016 World Junior 9-Ball Championships. I recently founded Big Blue Billiards at Millikin, and we will compete against other universities this fall.
Why did you choose Millikin?
I am a first-generation student with few resources and very few connections, so I didn't initially consider any private schools when I began applying. I had always (mistakenly) assumed that Millikin wouldn't be an option for someone like me, who is independently working my way through school. I honestly didn't think I could afford this kind of education on my own.
