Honoring the Academy and an Anniversary

Bogles

The Bogle's gifts will have a lasting impact on midshipmen at the Naval Academy.

Captain William T.R. "Randy" Bogle '68, USN (Ret.)'s path has led to the Naval Academy many times throughout his life: first as a prospective midshipman at the Naval Academy Preparatory School, then as a proud member of the Class of 1968, a company officer, flag aide to the Superintendent of the Naval Academy, the 76th Commandant of Midshipmen and various times as a volunteer leader for his class and the Alumni Association chapter in San Diego, where Bogle and his wife Joanie make their home.

Today, Bogle, a self-described "twice failure at retirement" who has followed his naval and corporate careers with his current role as Executive Director of the non-profit San Diego Military Advisory Council, is focused on giving back to a place that has given him so much.

"The Academy is a great institution to learn about leadership, character, honor and other qualities I feel played an important role in the rest of my life," says Bogle. "We are blessed to be able to support the Academy in the ways that we have."

The Bogles are long-time members of the Naval Academy Foundation's President's Circle who have focused their giving on the Naval Academy Fund, athletic excellence and the Class of 1968's class projects.

"Through my various relationships with the Academy, I've had opportunities to see what really goes on there in terms of athletics, character development, leadership, academics and so on," he says. "I'm a supporter of the Superintendent's priorities through the Naval Academy Fund and believe strongly in the importance of the physical aspects of being a midshipman."

In addition to the Bogles' history of immediate gifts through the Foundation, beginning in 2017 the Bogles established what they plan to be the first of five charitable gift annuities (CGAs) on their wedding anniversary each year as gifts to each other and for the Academy.

"The CGAs provide us a little income in return, but more importantly, offer an opportunity to continue our long-term support of an institution we consider second to none and to help ensure the Academy continues to grow and improve the programs it provides the young men and women of the Brigade," says Bogle.

To learn more about CGAs, or other ways you can make an impact at the United States Naval Academy Foundation, contact Patti Bender at plannedgiving@usna.com or 410-295-4186.

 
 

© United States Naval Academy Alumni Association & Foundation

 
 
 

A charitable bequest is one or two sentences in your will or living trust that leave to the United States Naval Academy Foundation 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 the United States Naval Academy Foundation, a nonprofit corporation currently located at 247 King George Street, Annapolis, Maryland 21402, 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 the Naval Academy Foundation 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, 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 the Naval Academy Foundation 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 the Naval Academy Foundation 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 the Naval Academy Foundation where you agree to make a gift to the Naval Academy Foundation 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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