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Making a Difference Today for Tomorrow

Jane Kay Nugent '48

Jane Kay NugentFrom a young age, Jane Kay Nugent ’48, knew she wanted her life to make a difference.

As a woman in the male-dominated field of business, she did just that, breaking glass ceilings at Detroit Edison, donating treasure and talent as a philanthropist and volunteer, and advocating for equal employment opportunities for all.

Her efforts toward that end will continue for many years, thanks to her significant bequest to University of Detroit Mercy, which will be used to endow the Jane Kay Nugent Chair in the College of Business Administration. The bequest will also fund the Jane Kay Nugent Endowed Scholarship established years ago at Detroit Mercy. Women applicants are to be given preference for both endowed funds.

A recognized pioneer among women executives in metro Detroit, Nugent received her Bachelor of Science degree from University of Detroit. She went to work for Detroit Edison, where she proved her acumen and skill over many years. Her hard work was rewarded in 1982 when she became the first woman to be named vice president of administration at Detroit Edison, one of the top positions at the utility. She held that position until she retired in 1990. All the while, she volunteered tirelessly for many organizations, including the Children’s Home of Detroit, the Women’s Economic Club, United Way and the St. John Hospital Foundation.

“I wanted to improve opportunities for women,” says Nugent, who lives in the Detroit area. Her tireless efforts did not go unnoticed. She has a number of awards from organizations honoring this work. In 1988 she was inducted into the Michigan Women’s Hall of Fame.

Nugent also is a member of Detroit Mercy’s College of Business Administration Hall of Honor. She received an honorary Doctorate of Humane Letters from Detroit Mercy in 2013 in recognition of her leadership, accomplishments and commitment to others.

The University holds a special place in Nugent’s heart for many reasons, and that’s why she has been so generous to it. “Its values and the philosophy of a Catholic university have been important for me,” she said. “And, of course, the associations and friendships that started there have been important personally and professionally. University of Detroit Mercy prepared me not only for a career but also for life.”

To learn more about how you, like Jane, can make a bequest or other planned gift to Detroit Mercy, contact Barbara S. Milbauer at (313) 993-1600 or milbaubs@udmercy.edu.

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A charitable bequest is one or two sentences in your will or living trust that leave to University of Detroit Mercy 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 University of Detroit Mercy, a nonprofit corporation currently located at 4001 W. McNichols Road, Detroit, MI 48221-3038, 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 Detroit Mercy 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 gift 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 receive an immediate federal income tax charitable deduction. 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 Detroit Mercy as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 Detroit Mercy 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 Detroit Mercy where you agree to make a gift to Detroit Mercy 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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