Development News

George Hallock '56 gives back to Kenyon by creating a Charitable Remainder Unitrust

A few years ago, George B. Hallock '56 decided to do something that Director of Major Gifts Russell P. Geiger, the College's chief planned-giving officer, would like to see more alumni and friends of Kenyon doing. Hallock created a Charitable Remainder Unitrust, which provides him with an annual income and names the College as the ultimate beneficiary.

"Kenyon was very good to me, and I want to give something back to the College," says Hallock, who credits Geiger with a "lot of hard work" in setting up his Charitable Remainder Unitrust. "This seemed an ideal way to do that."

Hallock set up his Charitable Remainder Unitrust in 1998 with a stock gift that was valued at $432,166. The unitrust provides for a 6 percent income payout to him for the rest of his life, based on the annual value of that principal. In addition, Hallock received a charitable deduction of approximately $190,000 in the year of the gift. Because the market value of the initial gift has fluctuated, the annual income has varied from about $25,000 to about $22,000.

"One thing that is very appealing about the Charitable Remainder Unitrust is that it results in no taxes paid to the federal government," says Hallock. "I don't think the government would spend the money as wisely as Kenyon does. I don't have to worry about investing the money myself; that's taken care of by the College's investment advisors, and I receive a lot of income that is not taxable to me. And it is flexible and I can add to it.

"Another particular benefit from my perspective is it is something I can do while I'm still alive," Hallock adds. "I don't have to wait to die for Kenyon to benefit. The downside for the College is that I might live too long!"

Hallock was called to active duty while in his first year at Kenyon. During the three years he was gone, he took some courses though various military programs. The College gave him full credit for those, allowing him to graduate in just two and a half years. Hallock received financial aid in addition to his G.I. benefits, and he held work-study jobs in the president's office and in the dining hall.

"I believe I received an outstanding education," Hallock says. "And the value of my education coupled with the wonderful treatment I received cemented the relationship for me."

An English major at Kenyon, Hallock says he believes a strong foundation in the humanities is an asset in every aspect of life. "It helps with interpersonal skills," he said, "and it also give you perspective. You can see that the things that are happening to you happened to other people throughout history, and you can learn from the way that those people handled them."

Hallock earned an M.B.A. at Rutgers University in 1962. He began his career as a Dun and Bradstreet credit reporter, a job that offered the opportunity to use both his skills in English and his background in finance. It had the added attraction of minimal supervision and a lot of time out of the office. He says it was one of his favorite jobs ever.

Now retired from ASEA Brown Boveri Inc., where he was manager of corporate credit, Hallock and his wife, Nancy Littlewood Hallock, live in Bloomfield, New Jersey.

Stamp and Presley join the great Kenyon job shift of 2002

Vice President for Development Kimberlee A. Klesner has announced that Thomas P. Stamp '73, executive director of public affairs, has agreed to serve as acting director of development for fifteen months, beginning April 1. His position in public affairs will be filled during that time by Director of Media Relations Shawn Presley, who will be acting director of public affairs.

"Working with a new colleague on corporate and foundation proposals, Tom will be identifying new sources of funding and using his writing skills and knowledge of Kenyon to bring in new gifts in a variety of areas, including the new center for fitness, recreation, and athletics," said Klesner, who noted that conducting a search for a grants and reports writer will be among Stamp's first duties. "He will also have responsibility for the areas of special funds and stewardship, working with Alice Straus and Kris Caldwell."

"I've been hoping to find an opportunity to do something like this since the now-defunct Administrative Advisory Council proposed 'administrative sabbaticals' several years ago," said Stamp. "I'm grateful to Kimberlee and everyone else involved in the College's development operation for their enthusiastic response to the idea. I'm also grateful to my colleagues in the public affairs office, without whose support this wouldn't be possible."

Presley and the rest of the public affairs staff will be assisted during Stamp's absence by Philip Brooks, a freelance writer who will take a part-time position in the office, with a salary paid from unexpended funds from vacant positions in the College Relations Division. A graduate of Lake Forest College, Brooks attended the famed Writers' Workshop at the University of Iowa, where he earned a master's degree.

"Shawn's many skills and successes with media relations, writing and editing, crisis management, and much more will serve Kenyon well as he works with the talented staff in public affairs to provide news about the College to all our constituents and, especially, to develop and implement new plans to enhance Kenyon's image," said Klesner.

"The transition to my new position will be made easier by the seasoned staff already working in public affairs," said Presley. "I'll continue to uphold the high standards of our office while bringing a fresh perspective to the job of director."

Stamp, a 1973 alumnus of Kenyon with a master's degree in English from Northwestern University, joined the College's public affairs office in 1984, following seven years in the communications office at Princeton University. Presley, a graduate of Ouachita University with a master's degree in journalism from the University of Missouri, came to Kenyon in 1997 from the University of Iowa's news services operation.

Stamp will move into an office in the development area, and Presley will move into Stamp's office for the duration of their administrative sabbaticals. Stamp can now be reached at 740-427-5154; Presley remains at 740-427-5158.

The search for a permanent director of development, which began last year, will be suspended for the spring and summer. It will be reopened in the fall.

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