Couple Uses Life Insurance Policies to Establish Future Endowments
David Ronzani '78 and his wife, Kathleen Riechers-Ronzani, recently purchased life insurance for the sole purpose of giving back to St. Mary's University.
"We wanted to do something significant for the school that gave us so much, my gift of education and many of our lifelong friends came from my time at St. Mary's," shares Mr. Ronzani, a retired police officer from the Greater Chicagoland area. "Making the gift was really easy, and creating the policies which are both owned by St. Mary's and benefit St. Mary's make our premium payments tax deductible."
The whole life policies, valued at $100,000 each, will benefit two endowed scholarship funds, the first to support students studying history and the second for students studying biology or bio-chemistry.
"The Ronzani-Riechers family has a wonderful history of generosity in supporting our students," says Rick Kimbrough, vice president for University Advancement.
"Dave and Kathleen are great friends of the University. This gift, their past support and the many students they've helped recruit to St. Mary's have created a wonderful legacy. We are blessed to call them friends," says Tom Mengler, president of St. Mary's University.
Extend Your Connection to St. Mary's
For more information on ways to make a gift using life insurance or through other avenues, please call Rick Kimbrough at 210-436-3138.
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 any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual 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.