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Personal Giving Stories
The Clayton, Indiana, native’s life by the numbers: Ken had one sister two years older than he, and a hardship at home caused him to spend 1.5 years at Indiana University before and after his time at Milligan (1957-58) so he could help with the family dairy farm. While at IU, he rode two times in a then-fledgling bicycle race called the Little 500. “I had a good experience while at Milligan, and I was disappointed it was so short,” Ken said. After receiving his education license, he taught for 34 years, 25 as a math teacher in Martinsville, Indiana, before his retirement. His wife of 47 years, Revenna, is a Franklin College graduate, and they have two daughters (one attended Milligan) and four grandchildren. He is the treasurer of his church. A while back Ken read a story in The MillAgenda (now Milligan Magazine) about Ron ’58 and Bertie ’57 Daughtery. The couple, who live in North Carolina, were urging other alumni to consider making gifts of life insurance to Milligan. That just made good sense to Ken. Life insurance is generally viewed as an affordable way to make a significant gift to Milligan. The cost of the premiums during the donor’s life is comparatively small but can accumulate to a notable sum over the years. Donors can choose to designate Milligan as the beneficiary of an existing policy; give the existing policy itself to the college; or apply for a new policy, designating Milligan as the original policy owner and beneficiary. An outright gift of an existing policy qualifies for a charitable income-tax deduction, while making the college the beneficiary of a policy qualifies for an estate-tax deduction. “Making a gift of life insurance was very affordable and fit our situation,” said Ken. Milligan can use the unrestricted gift where most needed. For this retired math teacher, the advantages of a life insurance gift to Milligan added up. Life insurance is just one of many ways in which our alumni and friends can make a significant impact at Milligan. If you would like to find out more about how this, or any other form of gift, might help you fulfill your goals, please contact Jack Simpson at 1-800-447-5922.
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Ken Richardson ’58 chose to make a gift of life insurance to Milligan because the college helped him “figure out how to do a little math.”|
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