Gift Planning

  1. Gift Planning
  2. Why We Give
  3. Diane Wetherill Schools

Empowering future generations through athletics

Diane Wetherill Schools

Diane Wetherill Schools

Growing up in the 1950s, Diane Wetherill Schools (’60) fondly recalls Miami and Miami Athletics being a big part of her childhood. “I remember listening to the Miami-Cincinnati football game every Thanksgiving sitting on the floor in front of a big old radio at my grandparent's home,” Diane said.

Diane and her brother David Lee Wetherill (’62) routinely traveled to Oxford with their father Claude for sporting events, fostering memories of fall days on campus. Those early exposures proved to be critical.

“When it came time to go to college, Miami was the only place that I considered,” Diane said.

Diane always enjoyed tennis and swimming, considering them lifelong sports and keeping up participation to this day. Yet despite her athletic affinity, Diane regrets that there were few opportunities for her to compete during her college years.

“Back then, we did not have the options to participate in athletics like the young women have today,” Diane explained. Diane’s brother David enjoyed his opportunity to wrestle for Miami University.

She and her brother continued the tradition of bringing their families back to campus for sporting events and Alumni Weekend as well, with Diane’s daughter Amy Dickson Harris becoming an alumna with Miami’s class of 1985.

When considering her charitable support, Diane had no hesitation about wanting to do something in honor of her family’s long connection to Miami Athletics. The Wetherill-Schools Athletics Scholarship will support a student-athlete participating in Golf, Tennis, Men’s or Women’s Swimming.

Diane was pleased to make Miami University Foundation the beneficiary of her individual retirement account (IRA). In addition, she decided to fund the scholarship during her lifetime using qualified charitable distributions (QCDs).

Using the QCD allows a donor like Diane to fulfill part or all of her required minimum distribution (RMD) for the year, support Miami, and avoid additional income. Perhaps most importantly, the QCD will allow Diane to see her philanthropy in action!

“My husband has made gifts to the University of North Carolina. Miami is my thing,” Diane explains. “It is my pleasure to be able to do it and to support Miami Athletics programs that maybe don’t get the same level of support as others.”

If you would like to learn more about how you can use your IRA to support Miami University, please contact Miami's Office of Gift Planning at 513-529-1286 or GiftPlanning@MiamiOH.edu.

A charitable bequest is one or two sentences in your will or living trust that leave to Miami 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 Miami University, a nonprofit corporation currently located at 725 E. Chestnut Street, Oxford, OH 45056, 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 Miami 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 Miami 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 Miami 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 Miami where you agree to make a gift to Miami 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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