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A Gift and a Challenge

Thomas E. Page

"I still have many friends I met at Detroit Mercy...I want them to say, 'If Tom Page can do this, I can do something.'"
—Thomas E. Page

Thomas E. Page describes himself as a regular guy—"Call me Tom," he says—but he's much more than that.

In his retirement, the former police officer has taken on the roles of ad hoc ambassador for the city of Detroit and promoter and devotee of bicycling in the city.

He is also a major booster of University of Detroit Mercy. He earned a bachelor's degree in Psychology in 1971 and a master's degree in Urban Studies in '76 from University of Detroit and he credits his education for his success.

"One of the things I learned here is that education is much more than knowledge of facts," Page says. "Things change so rapidly in society today that we have to look at things in a circular way, not a linear way, because one issue is affected by so many other things."

That kind of global thinking, he says, made him a good police officer, which he was in Detroit and Los Angeles, much of the time as a Drug Recognition Expert, helping create a standardized, effective approach to combat drugimpaired driving now used around the world.

e recently showed just how he feels about Detroit Mercy and its students with two significant planned gifts. "I've realized what's important to me," he says. "I'm secure; I don't need more stuff. But what I could do is t o create a legacy that gets carried on at this University, which I care deeply about."

One gift is designed to have an immediate impact on the current student experience. Each year for five years, Page has pledged to support a project designed to build an energized student body and campus. Last year, his gift paid for two bicycle repair stations on the McNichols campus; this year, the gift will be used to establish a bicycle loan program. Four bicycles, specially designed by Detroit Bikes in Detroit Mercy colors, will be available on campus for students to borrow. The details of this program are still a work in progress, but the bicycles will be ready to use this fall.

This year's gift also supports a dean-designated initiative in the College of Liberal Arts & Education as well as the women's soccer team.

In addition to Page's generous five-year planned gift commitment, he has also included the University in his estate planning, leaving a significant and transformational gift to enhance student life on the McNichols Campus.

"This gift is in support of the morality, the ethics, the very DNA of Detroit Mercy," Page says. "This place serves a very wonderful purpose for our community and our society, and we need to support that."

Page adds that there is yet another motive for the gifts: To provide inspiration.

"I still have many friends—many of them Phi Sigma Kappa fraternity brothers—I met at the University, and we're at the stage in our lives where it's time for some of them to give back to the school because of what it has meant to them," Page says. "I want them to say, 'If Tom Page can do this, I can do something.'"

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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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