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Gift Planning

Haverford Faculty: Inspiring Future Generations of Students

Haverford’s academic excellence and high student achievement hinges upon its faculty. Today’s students benefit from some 135 scholars—all exceptional teachers and all at the top of their fields. Since the College’s founding, the student-faculty ratio has remained low (currently 9:1), and faculty blend mentorship with collaboration, resulting in an extraordinary academic experience for students. The faculty members featured in this issue chose to perpetuate their own Haverford legacy by supporting the College’s mission through planned gifts. Their generosity and foresight enabled the College to broaden the curriculum, expand opportunities for students, and beautify the campus.

Elisa & Manuel Asensio

Elisa and Manuel AsensioAfter fleeing from Spain at the end of that country’s Civil War, Elisa and Manuel Asensio came to Haverford College, where Manuel began teaching Spanish in 1941. Manuel started graduate work in the Department of Romance Languages at the University of Pennsylvania, earning his master’s degree in Spanish literature in 1947 and a Ph.D. in 1955 with a dissertation on Lazarillo de Tormes. When they first arrived at Haverford, Elisa and Manuel became the “house parents” for a group of students enrolled in the Relief and Reconstruction Master’s Program. By 1948, they were the first faculty residents of La Casa (known then as La Casa Española and Williams House), which under their guidance became the residential focus for the study of Spanish and Spanish-American cultures for over two decades. During their 24-year tenure, the Asensios welcomed students to their apartment on Sunday afternoons for tea and conversation, a tradition remembered fondly by generations of Haverfordians who experienced the community of La Casa while gaining fluency in Spanish.

The Manuel J. and Elisa P. Asensio Scholarship Fund was established through a bequest in the Asensios’ will and by a charitable gift annuity. Today, that fund assists students with demonstrated financial need. Preference is given to Spanish majors, students from Spain, or students who are Spanish-speaking, like Natalie Legros ’14. Natalie chose to major in Spanish with a double minor in linguistics and Chinese. She spent her junior fall semester studying in Spain and served as the La Casa dorm representative to Students’ Council. Her senior thesis examined the writing of contemporary author Junot Díaz.

Louis C. & Elizabeth Green

Louis C. and Elizabeth GreenLouis C. Green taught astronomy at Haverford from 1941–76 and served in a number of administrative positions, including director of the College’s Strawbridge Observatory, chairman of the Department of Astronomy, and director of computing. He became the College’s first provost, and in the summer of 1967 served as acting president. He earned his degrees from Princeton University. Elizabeth Ufford Green, Louis’s wife, served as a research biologist at Haverford from 1957–80.

Through their estate planning—which included a trust under will, a charitable gift annuity, and a pooled income fund—Louis and Elizabeth created four funds: The Green Acquisition and Technology Fund for the Science Library supports collections and resources for the study of biology, chemistry, computer science, mathematics, and physics. The Louis Green Visitors Fund in Religious Thought makes possible the annual visit of a public figure working on major social issues within a religious tradition. The Elizabeth Ufford Green Professorship in Natural Sciences is currently held by biology professor Judith Owen. The Green Research Fellowship for Faculty and Students provides funding for faculty and students to attend conferences and other meetings related to research topics. In summer 2014, the fund supported interdisciplinary media fellowships for four students. Working with Artist-in-Residence Vicky Funari, the students produced a short documentary film on chemistry professor Helen White’s work with her students to study the effects of the 2010 Deepwater Horizon oil spill in the Gulf of Mexico. The ten-week project included two field trips to film the research conducted along the Gulf Coast.

John Spielman

John SpielmanJohn Spielman began his Haverford career as a professor of history in 1959, served as dean of the College from 1966–68, and was clerk of the faculty for several years. He received his B.A. at the University of Montana and his M.A. and Ph.D. in history at the University of Wisconsin. In 1982, the Christian R. and Mary F. Lindback Foundation awarded him its distinguished teaching fellowship. From 1984–87, he was the first John and Audrey Dusseau Memorial Professor in the Humanities at Haverford and specialized in early modern Europe with an interest in the late Hapsburg Empire, about which he published several books. John’s distinctive approach to academic study inspired generations of Haverford students; he originated the Department of History’s most famous course, the Junior Seminar on Evidence. At the beginning of the course, he would present approximately a dozen historical objects (e.g. map, bootspur, etc.), ask students to pick one and write a research paper on the historical significance of the selected item.

John’s bequest to Haverford was unrestricted and has been used to support faculty in the Tri-College Environmental Studies Interdisciplinary Minor—a program that embraces the tradition of exploration that John fostered as an integral part of a Haverford education.

Douglas & Dorothy Steere

Douglas and Dorothy SteereDouglas Steere, a former Rhodes Scholar, received his Ph.D. in philosophy from Harvard University and published extensively on topics in Quaker philosophy and history. He taught philosophy at several institutions, including Haverford College from 1928–64. He and his wife, Dorothy, were prominent figures of the Quaker movement in the twentieth century and deeply committed to the causes of peace and spiritual enrichment. This commitment led to their involvement with Quaker-led relief work after World War II, Quaker spiritual retreats, international diplomacy, and Dorothy’s work with the Civil Rights movement of the 1960s. The couple was instrumental in planning Pendle Hill, the Quaker study center located in Wallingford, PA.

Proceeds from the Steeres’ pooled income fund benefitted The Quaker Dimension Fund, which has been used for Quaker-related library acquisitions and campus programming.

Howard M. Teaf, Jr.

Howard TeafHoward Teaf joined Haverford’s Department of Economics in 1932 and served as chair from 1948–63. After becoming a professor emeritus in 1971, he became acting director of alumni relations for several years. In addition to teaching, he also worked as an arbitrator for much of his career, and many of his cases championed teachers. He was also a planner of The Quadrangle retirement community in Haverford, where he lived from 1988–91. A member of the Society of Friends, Howard served the American Friends Service Committee through fieldwork both in the United States and abroad. He attended the University of Pennsylvania, earning all of his degrees there. Howard specialized in microeconomic policy analysis in labor and corporation finance. Today, the student-run Teaf Business Society, named in his honor, furnishes the Haverford College community with the latest business information and resources.

A bequest from Howard’s estate benefitted The Fund for Development of Natural Beauty of Haverford Campus, which is managed by the Arboretum. His commitment to campus beautification was evident prior to his bequest when he funded and helped to design a Zen garden (adjoining the Dining Center) in memory of his wife, Gertrude Chattin Teaf.

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A charitable bequest is one or two sentences in your will or living trust that leave to Haverford College 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 Haverford College, a nonprofit corporation currently located at 370 Lancaster Avenue, Haverford, PA 19041, 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 Haverford 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 potential 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 may qualify for a federal income tax charitable deduction when you itemize. 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 Haverford as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. 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 Haverford 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 Haverford where you agree to make a gift to Haverford 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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