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For David Suaviso, Jr. '96, a Planned Gift Is Part of a Lifelong Connection

David SuavisoFrom the moment he arrived on campus in 1992, David Suaviso, Jr. '96 knew that he was forging a connection that would last a lifetime. Now, his planned gift to Bryant reflects the gratitude that he'll always have for the school that changed his life.

David has served as Regional Sales Manager at Sharp Electronics for the past seven years, part of a successful 15-year career in sales in the Audio/Visual industry. He says he chose Bryant because he wanted a school that could prepare him for "the real world," but even before he arrived, he had already begun to realize that Bryant was a special place.

David was a competitive bowler in high school and wanted to find a college that would allow him to pursue both business and bowling. He considered several other schools, but his friend, the St. John's University bowling coach, who knew of Bryant's reputation as a top business school, told him, "If you can go to Bryant, you should go." David says, "By telling me that, he did me a huge favor." After one visit, he fell in love with Bryant. Far enough from home on Long Island, but not too far. A big, beautiful campus, but not too big. And, after David had been accepted, a Long Island-based alumnus from the '80s who was volunteering for the admissions office called him to encourage him to attend. "That really sealed the deal for me," he says. "No other school did anything like that." It was his first glimpse of the power of the Bryant alumni network.

During his first week as a student, David attended a Student Alumni Association (SAA) meeting. "I wasn't thinking about being an alum someday. I was thinking about meeting people and having a good time." But he soon saw the many ways that alumni remained connected to Bryant, and how they supported students.

He would later become president of the SAA, as well as a member of the Student President's Advisory Council and an orientation leader. "Those four years at Bryant really helped me get out of my shell," David says. "I had always thought of myself as a shy kid, but it wasn't long before I was one of the louder Long Islanders on campus."

Now, whenever he returns to campus or attends Bryant events, he always tells students to get involved early with the alumni association. "Throughout your life, whatever challenge you're facing—job transitions, professional setbacks, big career decisions, network building—there are always Bryant alums out there who can—and will—help you."

David believes that the friendships, the relationships, and the network that students build during four years on campus are at the heart of the Bryant experience. "When you're part of the Bryant family, even if you're not close friends, you still look out for other alums, you try to do business with them, and support them whenever you can," he says.

It is this sense of family, he says, that drives his desire to give back to Bryant. Along with his ongoing and enthusiastic volunteering and advocacy, David has recently made a significant planned gift to Bryant. Though he is just now entering middle age, he has decided that it is the right time for him to consider his estate planning. The loss of both his parents—most recently his mother's passing just over a year ago—has given him a deeper perspective as he thinks about his future.

"I think a lot of people don't know very much about planned giving. I had always thought that bequests and leaving Bryant in my will were something that much older people decided to do," he says. But he learned a lot speaking with the Development team at Bryant.

"I'm certainly not rich, and I'm not able to give a large gift today," David says, "but I give what I can each year, and a planned gift allows me to make a much larger commitment—one that represents everything Bryant has given me."

He says that his friends sometimes tease him for his strong school spirit and enthusiasm for Bryant, but he is quick to offer a reminder. "I tell them, without Bryant, a lot of us wouldn't know each other. So, for me, it makes sense to give something back to a place that's been such an important part of my life, and an institution that I love."

If you would like to learn more about how you can make an impact on the lives of Bryant students through a planned gift, contact Bob Ferrell at rferrell@bryant.edu or 401-232-6171.

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Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

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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