Why I’m “Giving Back” to the Ames Community through my Will for the Blessings It Gave Me
An essay by Gary Mulhall, Ames Native and Mary Greeley Donor
Yes, I’m a quintessential “Ames guy.” Although I’ve lived in the Pacific Northwest for 37 years, my heart has always been in Ames. I’ve never been able to put the old hometown behind me.
In June 1945, the author’s mother, Lois Mulhall, proudly displayed her soon-to-born baby outside the family’s apartment on West Street near the ISU campus.
Born at Mary Greeley Hospital in 1945, the eldest of eight children born there (until 1962) to R.C. “Bob” and Lois Mulhall, my early itinerary was pure Ames/Cyclone: graduate of St. Cecilia School, 1958; Central Junior High School, 1960; Ames High School, 1963; Iowa State University, 1971 (after military service). My first four professional jobs were in Ames during the 1970’s and 80’s, including the ISU Foundation’s campaign for a “new” football stadium.
So when it came time several years ago to update my woefully outdated will–and having spent most of my career seeking charitable gifts from others–I decided to “walk the talk” and leave some dollars behind for organizations that helped shape and support me and my family. But which ones, and how much for each? And if I specified lump sums for each one, how much would those gifts actually be worth in spending power upon my death, given the impact of inflation?
Fortunately, due to my experience helping donors with “planned” giving (by will or trust), I had the answer to those vexing questions: don’t use lump sums, use percentages of the residual estate (after payment of all its obligations) when specifying charitable bequests. That way, the true value of each gift will remain intact over time. Brilliant, huh? (Don’t credit me with this wisdom; I learned about it years ago along the fundraising trail.)
OK, then came other key questions: which non-profit entities should get a slice of my estate pie, and how much should each receive on a percentage basis? The answers required careful consideration, of course. I finally chose six non-profits to each receive 4% of my estate’s final value, an aggregate total of 30%.
I made the selections from an historical perspective; call it a lineal legacy. And I have specified in my will how each is to be used. Of course, first in line was Mary Greeley Hospital, where my seven siblings and my children were born. That gift will go to Mary Greeley Medical Center Foundation.
After consultation with Foundation staff, I’ve appropriately designated it for the hospital’s Birthways in honor of our parents. Next up is St. Cecilia School, where its bequest will go to the local scholarship tuition fund. And so it went as I selected four more; all in Ames/ISU except the university where I last worked, for a student scholarship endowment named for me.
I hope there’s something here that may be of interest to you when fine-tuning your own will. But if it’s already done, it’s not too late. It can easily and inexpensively be changed using a legal instrument called a “codicil,” an amendment that applies only to items specified. The original will is kept legally standing. So, talk to your attorney about this if you want to change your bequests or anything else. Maybe you, too, will be interested in a lineal legacy for Ames, or some other approach to charitable “planned” giving I hope so!
Gary Mulhall is shown with his daughters, Catherine (left) and Marjorie, at a family event several years ago. All three were born at Mary Greely Hospital.
About the Author
Gary Mulhall and his family left Ames in 1988 for Olympia, Washington, where he became director of institutional advancement for Saint Martin’s College (now a university) in nearby Lacey. He successfully led the school in fundraising, alumni relations and communications for 18 years before stepping down to focus on planned giving. He now lives in Beaverton, Oregon. Readers wishing to contact him may do so via email at:
gmullyames@gmail.com
