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Gift Planning

Fulfilling Dreams at Haverford

Mark Shimoda with his dog

Mark Shimoda '69 and Kiya are enjoying an active retirement. His estate plans will fulfill his longtime goal of honoring his parents by creating a professorship at Haverford.

Describing himself first and foremost as an educator, Mark Shimoda '69 is also an accomplished periodontist, innovator, and investor. All of these roles factor into his thinking about Haverford and his estate plan to establish the Reverend Robert K. and Fumiko Shimoda Professorship in Religion. The satisfaction of making this planned gift honoring his parents on the occasion of his 50th Reunion inspires Mark to do even more.

Born on the island of Hawaii, Mark moved with his family to Massachusetts in 1952. His father had already earned master's degrees from both Columbia and Yale and was working toward his Ph.D. in theology at Harvard. "My father would have been a student his entire life. He loved the stimulation of academics, but he made his living as a minister. At some point in high school, I realized that my summer job as a factory machine operator yielded the equivalent of what he earned," Mark recalls.

While his father gave little thought to making money, his mother managed the household finances. She was a constant and welcoming presence who always greeted Mark and his sisters when they arrived home from school. Only when he was at Haverford did she train as a dental assistant and take a position working for an uncle whose influence on Mark's later career choice would be profound.

Mark first learned about Haverford from his father. Reverend Shimoda had been so favorably impressed by Quakers who protested Japanese-American internment camps during World War II that he steered his son toward Haverford. The College offered a scholarship that enabled Mark to attend. "I have wanted to pay Haverford back ever since," he says.

Mark credits Haverford with giving him a solid background in the liberal arts and notes the important role his classmates played in expanding his vision of life. Despite the comparatively small enrollment at the time, the variety of people was wide and he picked up little things from classmates and learned as much from them as he did in the classroom. Mark credits his Haverford experience with "preparing him for life."

He describes his career path as one he "stumbled" into, but it turned out to be the perfect field for him. The summer after graduating from Haverford he lived in Honolulu with his uncle, a general dentist who was building his practice. While this experience was formative, Mark gravitated toward teaching.

Mark Shimoda

"I have a deep appreciation for my experiences at Haverford and always wanted to acknowledge my parents. This gift is a way to repay Haverford for investing in me back in 1965."

After Haverford, Mark worked as an algebra and science teacher, assistant dean, and wrestling coach. He relished the role of educator but realized that he would not be able to support a family on a teacher's salary. He decided to follow his uncle's example and enrolled at Temple University School of Dental Medicine. As it turned out, he "had the perfect amalgamation of traits." From his father, he had learned to appreciate biology, academics, and life. From his mother, he had developed discipline and common sense and understood the value of finance.

Mark remained in education after graduating from dental school, teaching at the University of Colorado School of Dentistry full-time for five years while also building a successful periodontal practice. Later, he shifted to practicing full-time while continuing to teach. He retired a year ago and now practices a half day a week. Throughout four decades of dental practice, Mark has remained committed to education—whether teaching dental students about innovative new modalities for treatment or advising patients about optimal dental hygiene.

The idea of endowing a professorship in honor of his parents energized Mark for years. When he learned from his financial advisor that he would be in a position to fulfill this dream, he shared that intention with his mother before her death in October 2018. (Mark's father passed away 15 years ago.) While Mark acknowledges that his mother would have been "embarrassed" to be recognized, he also wishes that she had lived to see him achieve what he set out to do long ago.

"I have had a deep appreciation for my experiences at Haverford and always wanted to acknowledge my parents. I am not in favor of leaving a large inheritance to individuals who may or may not use the funds well," Mark explains. "Instead," he continues, 'I believe that assets ought to be used in a way that is positive and lasting. By doing so through Haverford, I can benefit the College and its students. It is a way to repay Haverford for investing in me back in 1965. I want the bulk of my estate to go to Haverford."

These days Mark enjoys daily workouts that incorporate yoga, physical therapy, and weights. He travels frequently to pursue his passion for bicycling. He recently returned from a two-week trip to Maui and will soon head to Cuba and England for biking trips.

Looking ahead to his 50th Reunion, Mark acknowledges that he would enjoy catching up with classmates, but he also wants to experience Haverford "in action," when classes are in session. He would like to see the new Visual Culture, Arts, and Media academic space, where students are exposed to idea development and patents through the Haverford Innovations Program.

"I want the bulk of my estate to go to Haverford."

"My next hope," Mark continues, "is to grow my assets so that I can support another of my interests at Haverford—which is investments and impact investing." Were he to be a student today at Haverford, Mark imagines that he would explore classes related to finance. Mark maintains that this line of academic inquiry at Haverford holds promise for today's students and also for the future of Haverford itself. "When I return to campus, whether for reunion or a visit, it is not for reasons of nostalgia, but to look ahead. My relationship with Haverford continues and so do my dreams."

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Information contained herein was accurate at the time of posting. 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. California residents: 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. Oklahoma residents: 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. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

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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