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A Lifelong Connection: For Frank and Caryl Bingham, It All Comes Back to Bryant

Frank and Caryl Bingham

Frank and Caryl Bingham

Frank and Caryl met at Bryant. From their first encounter on the Providence campus in 1959, they could not have known it would be the start of a journey that would see marriage, children, two doctoral degrees, multiple businesses, and decades of leadership in education.

Frank Bingham '61, '72 MBA and Caryl (Whitcher) Bingham '61 AS, '71 BS are now distinguished alumni and recognizable fixtures of the Bryant community. The Binghams, through their annual giving are members of the Bryant Leadership Council. They have played a role in the surge in Bryant athletics as members of the Black & Gold Club. Most recently, they joined the 1863 Society when they included Bryant in their estate plan. 

Over the course of starting a family and developing multiple successful careers, something always brought them back to Bryant. And they've established something of a family tradition, seeing their daughter, Deborah Gallucci '85 meet her husband, Ray Galluci '84, at their alma mater. 

Soon after graduating, Frank began his career within the Speidel Corporation, one facet of the large Rhode Island-based employer, Textron. Bryant set Caryl on an academic path that would lead to a master's degree from URI and a doctorate in education from Vanderbilt University.

Even as Caryl pursued a career that would span 30 years in education and position her as a high school assistant principal, the Binghams displayed the entrepreneurial streak characteristic of Bryant alumni. They owned and operated a sales agency, two retail stores and a consulting practice.

The business experience gave Frank an edge in business-to-business marketing and industrial sales training. The Bryant connection remained strong and Frank returned to teach part-time early in the 1980s. Within a few years he completed a doctorate at the University of Massachusetts-Amherst, which led to a full-time faculty role on the way to becoming chair of Bryant's marketing department.

The ties formed in the classroom proved to be an ongoing source of inspiration. "I have a very long list of former students with whom I keep in touch," says Frank. His strong relationship to generations of Bryant students earned Frank the Distinguished Faculty Award in 1998, presented by the Bryant Alumni Association. Even in retirement, the bond remains. "Bryant has been very supportive of its former faculty members," Frank says. "All of us from that era have never forgotten what Bryant has done for us."

Though the Binghams now split time between Florida and Rhode Island, they carry the affiliation wherever they go. They are active members of the wider Bryant community and ambassadors for the school at home and abroad. Frank and Caryl have been on several trips with the alumni travel program, most recently to Norway. They continue to attend events in Florida including the Naples St. Patrick's Day Parade, Red Sox spring training games, and the annual regional alumni event.

From students to alumni to faculty to parents, Frank and Caryl Bingham have lived every aspect of the Bryant experience. By including Bryant in their estate plan, they cement a lasting connection to the University and its history. "It's just a really unique place that will never leave us," says Frank. 

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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 gift 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 receive an immediate federal income tax charitable deduction. 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 receive an immediate federal income tax charitable deduction. 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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