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For Jackvony, Giving Back Is a Responsibility That Lasts Forever

Bernard A. Jackvony

As he looks back on his long and distinguished career in law and public service, Bernard A. Jackvony '67 recalls his decision to attend Bryant University as a young transfer student. He had chosen to pursue a degree in accounting, and on his first day he met with then Dean Nelson Gulski about transferring credits. Jackvony says he regards Gulski with tremendous respect, and the two would later develop a warm friendship, but Jackvony laughs as he recalls that it began with a disagreement. He didn't understand why he would only be given credit for one semester of accounting after a full year at his previous school. "Dean Gulski told me, 'They don't teach accounting like we teach accounting,'" he says. "And he was right."

Jackvony remains grateful for his experience as a Bryant University undergraduate student and recently decided to designate Bryant University as a beneficiary of his charitable remainder trust. "Along with my family and my wife, there are a few special institutions that have shaped my outlook on life, that had a powerful impact on me," he says, "and Bryant was one of them."

After his first year at Bryant University and a brief internship at IBM, Jackvony decided to shift his focus toward a career in law. Soon after he graduated in 1967, he married his wife Sharon '87MBA and enlisted in the United States Marines, joining a program that allowed him to attend law school and become an officer in the Judge Advocate General Division, where he served until 1973. After his military service, he accepted a job with a firm in Florida where he specialized in tax law, estates, trusts—areas where his background in accounting proved to be an asset.

It was then that he reconnected with Bryant University, starting a South Florida alumni group and later serving on the Board of Trustees for nine years. He remembers being impressed by Bryant University's then-new campus and the expansion of its educational mission. "On the East Side of Providence, Bryant was a very good business school, but always in the shadow of Brown University," he says. "But, in Smithfield, Bryant has become a world-class institution, and its reputation continues to climb." Before the pandemic, he was a regular campus visitor, and he says he is always impressed with Bryant University's students. "Bryant is doing a wonderful job preparing them for future success."

In early 1997, Jackvony was appointed Lieutenant Governor of Rhode Island by Governor Lincoln Almond after Lieutenant Governor Robert Weygand was elected to the U.S. House of Representatives. Jackvony held the office until early 1999. He has also served as chairman of the Rhode Island Republican Party, and he continues to practice law in Florida and Rhode Island.

Jackvony says that he and his wife Sharon—who died in 2005—always tried to support educational institutions that were making an impact on students during their formative years. After working as a teacher at the former Kenyon Street School in Providence, Sharon later earned her M.B.A. in accounting from Bryant University in 1987. The Jackvonys' charitable remainder trust designates Bryant University as one of the educational institutions most meaningful to both of them and, upon maturity, it will create the Sharon and Bernard Jackvony Scholarship Fund. "Bryant provided me with tools to make a good living, and I am grateful," Jackvony says. "Education can be expensive, but an investment in learning pays lifelong dividends." He believes that the two things of lasting value that parents can give to their children are love and education. "So much of what we achieve comes from education," he says. "Our responsibility to make education available lasts forever."

Support What Matters Most to You

Like Bernard A. Jackvony, you can include a gift in your estate plan to recognize the impact Bryant University had on your life. Contact Bob Ferrell at rferrell@bryant.edu or 401-232-6171 to learn more.

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A charitable bequest is one or two sentences in your will or living trust that leave to Bryant 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

Bequest Language

"I, [name], of [city, state ZIP], give, devise and bequeath to Bryant University [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 Bryant University 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 Bryant University 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 Bryant University 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 Bryant University where you agree to make a gift to Bryant University 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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