Planned Giving

Ramapo "Gave Me the Opportunity to Succeed"

Dr. Anthony J. DeCarlo '77 is the co-founder and CEO of Red Bank Veterinary Hospital. Located in Tinton Falls, New Jersey, Red Bank Veterinary ranks as one of the country's largest, premier and privately owned veterinary hospitals. Dr. DeCarlo earned his bachelor of science degree from Ramapo College in 1977 where he majored in biology and earned his doctorate in Veterinary Medicine from the University of Pennsylvania in 1982.

When asked about his most memorable experience at Ramapo College, Dr. DeCarlo humbly stated, "getting into Ramapo."

He added, "I had a bad academic track record and my grades weren't good enough to get into Ramapo." Dr. DeCarlo is grateful for the admissions director who recognized his desire to study veterinary medicine and encouraged him to try a few classes to ease the transition. He responded by signing up for four challenging science labs and performed quite well. Dr. DeCarlo was soon accepted to Ramapo College as a matriculating student. Another memorable experience was taking his first exam with Dr. Saiff. He thought he had done poorly on the test and spent his whole weekend thinking he failed the course. He fondly remembers Dr. Saiff looking over his glasses and telling him not to worry; he got an A, the highest grade in the class.

What would Dr. DeCarlo advise the next generation of Ramapo College students? "You've got to follow your passion. If you ignore your passion, the job won't be fun and you won't do well. If you follow your passion, you will be successful in more ways than just money." Dr. DeCarlo further advises students: "on a practical level, wherever you go in your first job or school, develop relationships first and don't show off what you know. Your first task in any job is to develop relationships."

Dr. DeCarlo believes that if you are in college, you should recognize that you have had many breaks in your life. "There's no way you would have arrived at this point in your life without help and you should strive to give back either financially or through personal involvement."

When asked about the reason for including Ramapo College in his will, Dr. DeCarlo said simply, "Giving back is just what you do. It doesn't make sense not to give back to Ramapo College. There's no question that Ramapo was the best school for me. They gave me a chance. Obviously, I took part and worked hard but they gave me the opportunity to succeed. I had been a poor student and didn't like school. I benefited tremendously from the smaller classes and personal attention."

Why a bequest? Dr. DeCarlo stated: "When you recognize how someone or some entity has helped or changed your path, it makes sense to include them in your will. My reason for including Ramapo College in my will has nothing to do with taxes or planning, it comes purely from the bottom of my heart."

Dr. DeCarlo received the Presidents Award of Merit from Ramapo College in 2010, and was an honoree at the Ramapo College Foundation Distinguished Citizens Dinner in 2011.

A charitable bequest is one or two sentences in your will or living trust that leave to The Ramapo College 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 Ramapo College Foundation, a nonprofit corporation currently located at , 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 Ramapo College 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 Ramapo College 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 Ramapo College 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 Ramapo College Foundation where you agree to make a gift to The Ramapo College 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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