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Jack of All Trades, Master of Giving Back

By Danny Lamere

People posing and smiling for a photo

William “Bill” McQuinn ’56 (left), a devoted husband, father and Bryant University alumnus, established an endowed scholarship at the University through a bequest in his will.

For William “Bill” McQuinn ’56, success was never a given. That’s why he felt so strongly about the power of philanthropy to change lives.

When he passed away in November 2022, Bill made a gift to Bryant University through his will to establish the William P. McQuinn ’56 Memorial Endowed Scholarship, which will be awarded in perpetuity to a student studying accounting.

“He never wanted finances to be the reason someone couldn’t reach their potential,” says his daughter, Kathryn Ryan. “With this scholarship, hopefully someone else will have the same opportunity that he had to make something of themselves.”

Born to Irish immigrants in the 1930s in Connecticut amid the Great Depression, Bill had a modest upbringing. When a nun from his Catholic high school reached out to his parents to tell them Bill should consider college, everything changed.

“It was the exception for kids from their neighborhood to go to college,” says Kathryn, “but you listened to the nuns and did what they said.” Bill enrolled at Bryant University, and his father took on a second job to help pay the tuition. His younger sister went straight to work after she finished high school and began sending Bill part of her paychecks for spending money. “He and my aunt would both say they had enough money, but they didn’t have extra money,” says Kathryn. “His family pulled it together and supported him.”

Bill finished his Bryant University education in just two and a half years and began studying for the certified professional accountant exam, which he passed on his first attempt. He was among the youngest in Connecticut history to ever pass the exam, a fact that filled him with pride for the rest of his life. “He was always proud that what he learned at Bryant University set him up for success,” says Kathryn. “Bryant University held a very special place for him.”

Kathryn says her father helped foster a tight-knit family as she and her three sisters grew up, taking the family for camping trips on Columbus Day weekend, sailing in Long Island Sound and Narragansett Bay and skiing in Vermont. “Family was definitely first and foremost for him,” she says. “We spent all the time together that we could.”

He had many professional interests, and he pursued a varied career path. “He worked as a public accountant for a while, but he also worked as a financial executive, in the steel industry, aeronautical industry, furniture business and appliance companies,” recalls Kathryn. “Every so often, he would just need to shake it up.”

A voracious reader, Bill consumed information from all sources, earning a reputation as something of a jack of all trades. “My father knew more about all subjects than anyone else he knew — including the subjects he knew nothing about,” Kathryn jokes.

Even though each of Bill’s four daughters pursued careers in education — three, including Kathryn, went into public school education and one is now an associate dean at Yale University — their father always believed in the power of a business education. “He always appreciated how students, when they left Bryant University, had a skill that they could start a career with,” says Kathryn. “This scholarship is a way for him to help someone else acquire those skills and become the best.”

You can make an impact at Bryant University by creating your own legacy. Simply contact Bob Ferrell at 401-232-6171 or rferrell@bryant.edu to find out 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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