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Retiring Dean Includes FSU in Her Estate

Marcy Driscoll

Marcy Driscoll

As dean of Florida State University's College of Education, Marcy Driscoll is no stranger to conversations about giving. Since 2005, she has raised over $32 million in gifts and commitments with a consistent focus on student scholarships.

"I am proud to say that the College of Education has more scholarships than any other college on campus," she says, "and we offer more scholarship dollars than any other college of education in the state of Florida."

Dean Driscoll's success is due in equal parts to the fact that she has never asked anyone to do something that she is unwilling to do herself and her genuine enjoyment for development work.

"It has been one of my favorite parts of the job," she says. "We have very supportive alumni who care about FSU, and getting to know them and seeing them at events has been great fun."

Remaining Focused on FSU

Having spent more than 38 years serving FSU, Dean Driscoll cares deeply about its future. It's a future in which she plans to take part—even though she's retiring later this year.

Dean Driscoll and her husband, Robert E. "Robin" Driscoll, have been very proactive in incorporating the university in their personal estate plans. She and Robin first joined the Westcott Society in 2011, when they documented bequests in their estate. More recently, the couple updated their personal estate commitment to FSU, which now exceeds $1.2 million.

"My history with Florida State has given me a lot," Dean Driscoll says. "I am happy that I can give back to support its future."

Their total contribution will create three funds for three different programs:

  • The Robert E. and Marcy P. Driscoll Endowed Fund for Engineering Excellence recognizes Marcy's family history in engineering, Robin's long-standing interest in engineering and the great work done at the FSU/FAMU College of Engineering.
  • The Marcy P. Driscoll Endowed Fund for Faculty Excellence recognizes Marcy's belief in her colleagues and will serve as a tool for future Deans to recruit and retain the best professors.
  • The Robert E. and Marcy P. Driscoll Endowment for Women in Crisis continues Marcy's and Robin's commitment to supporting and caring for women in need, enabling them to overcome unexpected barriers to completing their degrees.

While Dean Driscoll will be missed, her work with the university will not be forgotten—nor will her personal commitment to FSU's future success and the success of its students and faculty.

Be a Part of Our Future!

Great universities depend on more than the generosity of one or two people. Our future will unfold through a collaboration with many. If you'd like to take part in that future with a gift through your estate, will or retirement plan, please contact The Office of Gift and Estate Planning at (850) 644-0753 or giftplanning@foundation.fsu.edu.

A charitable bequest is one or two sentences in your will or living trust that leave to Florida State University 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 Florida State University, a nonprofit corporation currently located at Tallahassee, Florida, 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 FSU 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, 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 the FSU 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 FSU 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 FSU Foundation where you agree to make a gift to the FSU 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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