Winter 2002 ❖ Lift High the Cross 47

Lift High the CrossLift High the CrossHeidi Brake Smith ’82 Heidi Brake Smith ’82first alumna everto give $1 million

Philanthropy After 9/11Campaign News Briefs

Planned GiftsThe Scene

Lift High the Cross ❖ Winter 2002 48

When HeidiBrake Smith’82 thinksthingsthrough, she

has former Holy Cross professorRev. John J. Paris, S.J., to thank,since it was in his social andmedical ethics course shelearned the power and impor-tance of insight.

And because her Holy Crossexperience instilled in her anappreciation for such insight,the College has Smith to thankfor a $1.25 million gift, the firstgift in the College’s history of$1 million or more from afemale graduate.

Smith, who with her hus-band, Scott, runs an investmentfund in Greenwich, Conn.,wanted to give something to heralma mater that would enhancethe educational experience thathelped shape her life. The dona-tion, which will create a newfaculty position called The CamelotEndowment, is part of the College’s$175 million “Lift High the Cross” cam-paign, the most ambitious drive thatHoly Cross has ever attempted.

The gift will be specifically for thenewly created Center for Religion,Ethics and Culture, an educational enti-ty especially important in modern times,says Holy Cross President Michael C.McFarland, S.J.

“This gift is very important to ourmission and for the Center,” Fr.McFarland says, adding that the creationof a faculty position with the donation

will allow for “a serious intellectualexploration of moral issues that are ofparticular importance to contemporarysociety.”

In thinking of where to best put hergift to use, Smith’s thoughts went to herHoly Cross days in the classroom withFr. Paris, now a professor of theology atBoston College.

“When I was in school, discussion ofthe day was about life support, about‘pulling the plug,’ and we talked aboutthose things,” she says. “I just lovedgoing to his class. He made his studentsthink about the things they should thinkabout.”

Of her donation to the College andcreation of a faculty post, she says“Basically I wanted a course that wouldreview different aspects of our societythat are important to us, especially inlight of all the technological advancesand things that are challenging studentswhen they walk out the door. I wantedit to be the teaching of social philosophyand ethics, something to bring the kindof philosophical thinking that I learnedthere.”

She wants the position to “promotediscussion of social problems, the impacttechnology has on life and culture, pri-vacy and the Internet.”

The $1.25 million gift of Heidi Brake Smith ’82establishes the Camelot Endowment, creates a newfaculty position, and sets a historic high for alum-nae giving.

By Paul E. Kandarian

The Smiths on the Eiffel Tower

Winter 2002 ❖ Lift High the Cross 49

Fr. Paris taught her and her fellowstudents “to think things through … hehad the energy to challenge, to say ‘soyou think this is the right way? Why?’”

Fr. Paris says his method of teachinghas always been Socratic in nature,embracing the ancient philosophy that“the unexamined life isn’t worth living.”

“My method is very Socratic. I raisequestions, get them to think, analyze,discern and decide, and I have othermembers of the class challenge it,” Fr.Paris says. “In the process of defendingyour position, you might discover argu-ments that don’t hold and you eitherchange your conclusion or come up witha better rationale for it.

“It’s called thinking,” Fr. Paris says,adding with a laugh, “something that’s anew experience for many students.”

Fr. Paris is pleased with the gift Smithhas made to Holy Cross and that hisclass made such an impact on her life.

“Education has a lasting impact onsome students. It’s not something youuse to pass the next exam but to guideyour life,” he says. “She clearly discov-ered something she found worthwhileand it’s terrific that she’s encouragingothers and making this gift available tothem.”

The fact that Smith is the first femalegraduate to give so large a gift to theCollege is significant not only on thelevel of its generosity, Fr. McFarlandsays.

“When (Holy Cross) went coed, theargument was made that this wouldlessen our impact and that’s just nottrue,” he says. “She is one of our mostsuccessful female alumnae and as aTrustee, she’s been very engaged in theCollege and very much appreciates themission and what we’re trying to do.”

After graduating Holy Cross in 1982,where she majored in economics, Smithworked for Price Waterhouse. A fewyears later, she met up with some otherHoly Cross graduates who were in theoil and gas industry and worked forthem running the business side of thecompany. She and Scott married in1987 and she later joined him in thesecurities industry and worked as a secu-

rity analyst until 1991.The two of them started their com-

pany Jan. 1, 1994 and worked alone forthe first four years. Camelot Manage-ment now has 14 people in its employand more than $1 billion in assets.

A tragic moment in her life alsoreconfirmed for her what the Holy Crossexperience meant. Garrett, the couple’sfirst child, died in 1995 at the age offour, from liver disease.

“We walked into the church for a pri-vate service and I saw Fr. (John) Brooksand Fr. (Francis) Miller from HolyCross,” Smith says. “Someone obviouslycontacted the school and to this day Idon’t know how they knew. But Ithought that was pretty special.”

The couple now has two children,Alexander, 8, and Sabrina, 5.

Smith has been a Trustee at HolyCross for three years and as such keepsconnected to the school and apprised ofwhat it needs. She and her husband havemade other donations to Holy Cross inthe past, she says.

“Heidi has been very supportive ofthe College’s efforts to further strengthenits academic program,” says StephenAinlay, vice president for academicaffairs and dean of the College. “As aTrustee, she has always made an extra

effort to learn about our new academicprograms and initiatives, and I’ve appre-ciated her obvious enthusiasm for whatwe are doing.”

As to her $1.25 million gift, Ainlaysays “it is both remarkable in its generos-ity and in the difference it will make toboth the department of philosophy andto the Center for Religion, Ethics andCulture. Philosophy has long been cen-tral to the College’s curriculum, and webelieve the Camelot Professor will attracta significant student following.”

And as Smith envisions the gift,Ainlay says, “more importantly it willoffer students an opportunity for philo-sophical reflection about a range of con-temporary issues. Given this emphasis,

the Camelot Professor willundoubtedly play a central rolein the Center, facilitating bothlocal and national conversa-tions related to social philoso-phy and ethics.”

For Christopher A. Dustin,chair of the philosophy depart-ment, the CamelotEndowment “is very exciting,not just for the departmentbut the College as a whole.”

Smith, he says, was“inspired to do this by herown Holy Cross career. Shewas introduced to philosophi-cal thinking here, and shewanted to see that otherswould benefit in a similarway.”

The donation and the newCenter for Religion, Ethics

“There is some-times an artificialdistinction betweentheoretical andapplied approach.This position willbring both of thosetogether.”

Christopher Dustin, chairphilosophy department

Goals for 2002

The Parents Fund has two ambitious goals this year: to raise $300,000 for the annual fund, and $500,000in capital and restricted gifts.

Lift High the Cross ❖ Winter 2002 50

and Culture “are a very good match,”Dustin says. “We’re thinking of waysto reconnect philosophy with concreterealities that make us wonder aboutwhy we’re here and what we’re doing ata time when those realities that defineour world are undergoing radical trans-formation.”

Technology in particular is chang-ing so rapidly as to practically mandateserious thought about what it means,he says, “and the implications for all ofthe professions, including law, eco-nomics, business. This would be a veryinteresting area to expand what we’reable to do in this department.”

The new faculty position, he says,will be filled by someone “committedto not only the mission statement ofthe College but to the way things getworked out in the real world.”

Within philosophy, Dustin says,“there is sometimes an artificial distinc-tion between theoretical and appliedapproach. This position will bring bothof those together.

“She feels philosophical educationcan make a difference,” Dustin says ofSmith. “And this position (created byher gift) will be specifically designed tohelp students become more aware ofwhat’s worth wondering about.”

The job description for the post isbeing written, Smith says, and sheexpects it will be filled by the start ofthe fall term in either 2002 or 2003.

Another faculty member who madean impression on Smith was ProfessorJ.D. O’Connell ’53, now retired, whotaught accounting.

“I took a lot of courses with himand not a day goes by that I don’t uti-lize something I learned in his classes,”Smith says. “He taught me to think acertain way; I learned a process toapply to get an answer.”

In gearing her gift toward philo-sophical study, she says, “I wanted tohave real direction in mind. It’s veryeasy to say we need another biologyteacher or history teacher but I wantedsomething I benefited so much from,

something that could continue. Byendowing the position, it’s somethingthe school can offer for a long time.”

Mostly, Smith says, she wants acourse to be taught to students thatforces them to think and re-think theirpositions on a variety of issues, to opentheir minds to the possibility of think-ing that is different from their own.

“I wanted something that appliesdeeper thinking on things you’re goingto run into in life, it’s important toprepare students for life after college,”she says. “Usually, that doesn’t happenin college, but it happens at HolyCross.”

Paul E. Kandarian is a free-lance writerfrom Taunton, Mass.

Parents’ Council:❀ Leadership Parents serving and supporting the College❀ Meets twice each year: once at family weekend and

once in the spring semester❀ Activities include speaking at admissions open houses,

making “Crusader calls” to new parents, publishingthe Parents Newsletter, securing internships for ourstudents, and fund raising

❀ Most members make leadership gifts to the Collegeand are members of President’s Council

President’s Council:❀ Membership includes more than 2,000 alumni, par-

ents and friends who make annual leadership gifts tosupport Holy Cross

❀ More than 120 parents are members of the President’sCouncil

❀ Members meet annually for a black-tie event and areinvited to regional events with the president

❀ Members receive a regular newsletter from the presi-dent, a membership directory, and a symbol of theirmembership

Parents’ Council, President’s Council—I’m confused!

Winter 2002 ❖ Lift High the Cross 51

T he College hosted some of its most generousand loyal donors during the weekend of Sept.7-9 to “pre-announce” the Lift High the CrossCampaign, a campaign that had been in thepreparation stage for three years. The weekend

stirred tremendous excitement about the possibilities inherentin such a campaign for Holy Cross. Later that week, however,everything changed. Following the tragic events of Sept. 11(including the deaths of seven alumni members of the HolyCross family), the elation sparked by the pre-announcementevents subsided. Uncertainty took its place, and the economy,already weakened, spiraled downward; not the ideal climatein which to publicly launch a $175 million fund raising cam-paign.

The question for the Campaign Steering Committee thenbecame: how do we proceed? Jack Rehm ‘54, chair of the cam-paign, spoke to this at President’s Council on Nov. 10. Whileacknowledging the difficulty in moving forward in such sad

and uncertain times, Rehm said, “Hard work and effort havealready gone into this campaign, and many generous giftsand pledges have already been made. So, while this may notbe the best time, I believe it is necessary for us to moveahead, to transition from quiet talk to public conversationsabout our College’s future.”

Paul Sheff, vice president for development and alumnirelations, continues that public conversation here.

There has been much discussion recently about howcharitable programs will suffer due to the deteriorationof the economy and the fact that many donors will puttheir philanthropy toward disaster relief. People arewondering about individuals’ willingness to contributeto the Lift High the Cross Campaign in this climate.What’s your assessment of the situation?

This has been a difficult fall for our country. Evenbefore the events of Sept. 11, the energy and excite-ment of a stock market that had been registeringdouble digit growth for four consecutive years werebeginning to wane. The tragedy of Sept. 11 was adevastating blow that accelerated this decline in themarket and intensified our loss of well-being. As aresult, except for efforts to aid those who suffered asa direct result of Sept. 11, most non-profits haltedall fund raising, at least for several weeks.

Although it is too early to write the story ofthe after effects of Sept. 11, my guess is thatAmericans will continue to be as generous as theyhave always been; that they will continue to supportreligion and education, two causes they have consis-

A:

Philanthropy After 9/11

How do we proceed?

Q:By Joyce O’Connor Davidson

Paul Sheff, vice president of development andalumni relations

Lift High the Cross ❖ Winter 2002 52

tently and overwhelmingly supported in the past;and that non-profits involved in the arts, healthcare, social services, etc., may see some decline insupport as a result of Sept. 11.

We are starting to regain some normalcy,although I think that term is still being redefined.What is clear, though, is that fund raising has a fardifferent set of circumstances to deal with todaythan it had just 12 months ago.

How have fund-raising efforts been tailored to fit theclimate we’re in?

Well, in a way, we haven’t changed at all. What Imean is that fund raising is not, in the firstinstance, about money; it’s about mission and mes-sage. Fund drives and campaigns that are not direct-ly linked to mission cannot hope to realize their fullpotential. Fortunately for us, our fund-raisingefforts have always been about our mission. WhatHoly Cross is and strives to be did not change fromSept. 10 to Sept. 12, nor did it change when thebull market became a bear market. We are and willremain, a college that not only maintains a vitalconnection with and practice of its faith-based tra-ditions, but that also strives to strengthen its stand-ing among nationally ranked liberal arts colleges.

That said, these are very difficult economicclimes. The market lost two-to-three years of itsgains; unemployment is on the rise; consumer con-fidence has been shaken. Although there is still agreat deal of wealth in this nation, we are uncertainabout the future. This is not exactly the context inwhich one wants to run a campaign. So we have tomeet people where they are and help them structurea commitment that fits the times and their circum-stances.

Could you give some practical examples of how thisplays out?

Sure. Let me give you three. In one case weapproached a couple who was having difficultycoming to a decision about their commitmentbecause of the current gloomy economic forecast. Inresponse, we have asked if they would considerpledging what they knew they could fulfill, regard-less of economic circumstances, and if circum-stances improved, agree to overpay their pledge. Inother words, we asked them to include us in theirprosperity, should it occur.

In another case we approached a person for acommitment who was employed by a venture capitalfirm. This person was willing to make a gift if wewould accept a portion of his shared interest in one

of the company’s funds. Although this gift had noimmediate value, we accepted it, booking it at anominal value, which the person understood, butbooking it nevertheless, thus including the personas an investor in the campaign. Should this fundprosper, so would the donor, and so would HolyCross.

The final example involves a fellow whoseprinciple wealth was in the stock of the companywhich employed him. At the time we approachedhim, the stock had declined nearly 90 percent invalue. We knew he would prefer to make a gift inhis company. Rather than cast our request in termsof dollars, we asked him for a specific number ofshares in this company, to be gifted whenever he feltit was most advantageous to do so, as long as thisoccurred within the timeframe of the campaign. Aswith the other two examples, should this individualprosper, so would we.

How have donors responded to this approach?

Very well. In all three cases these individuals wereable to make a commitment not only because theirdevotion to Holy Cross was strong, but also becausethey felt we were understanding their circumstances.I think the key here is to convey that one under-stands the context from which the donor is operat-ing, and to try to help that person fashion aresponse that is both doable and meaningful.

Do you foresee this approach lasting throughout thecampaign?

As the public phase of our campaign will last anoth-er four years or so, and as life in these modern timescan change quite suddenly and unpredictably, I amnot sure what we will be doing even six monthsfrom now. But I am sure that if we continue to talkabout our mission and our core values, and if weare willing to work creatively with those who trulywant to help Holy Cross, we will be successful.

Do you have any final thoughts on this matter?

Yes. I believe that despite the current climate, theLift High The Cross Campaign will hit its targetsand even more because alumni and friends of HolyCross believe in this College and the work it doesfor the young men and women who come here tostudy. That is our trump card.

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Winter 2002 ❖ Lift High the Cross 53

Please visit the Campaign web site at :http://www.holycross.edu/departments/alumnidev/campaign/index.html

New Class Chairs and CorrespondentsThe Holy Cross Fund welcomes recently installed Class Chairs andCorrespondents:

Joseph W. Daly ’37Gerald M. Earls ’40Lee F. Bartlett, Jr., Ed.D. ’42William S. Richards ’64Alfred J. Carolan ’68James W. Igoe, Daniel M. Spada, M.D. ’69Anthony M. Barclay, John R. Doyle M.D. ’70Brian R. Forts, Esq., Robert C. Lorette, Esq. ’74Glennon L. Paredes ’79Susan L. Sullivan ’82Carmine L. Salvucci ’84Thomas M. Flynn, Joseph Terranova, Joanne S. Niland ’85Sean T. McHugh ’89Paul V. Buckley, Mark P. Wickstrom, Nancy L. Meaney, Lisa M.

Villa ’90Christopher J. Serb ’92Christian P. Browne, Alyssa R. Hotte ’98Jason C. Hoffman, Kathryn R. Remmes ’00Sarah K. Foley, Janelle M. Hraiki, Megan E. Kehew ’01

➙➙

Lift High the Cross ❖ Winter 2002 54

Campaign News Briefs

Haggerty andLynett Families JoinForces for Holy Cross

Holy Cross Trustee CeceliaLynett Haggerty P’97, ’89,and her husband, James ’57,

have, with her brother, George Lynett’65 P’94 and his wife, Patricia, andtheir family company, Times ShamrockCommunications, committed$250,000 to the campaign. The gift isunrestricted. The Haggerty/Lynett fam-ily owns and runs ShamrockCommunications, Inc., a privately heldmedia firm, and the Times NewspaperGroup, in Pennsylvania. Jim is a prac-ticing lawyer in Scranton. He served asSecretary of the Commonwealth ofPennsylvania and General Counsel toGovernor Robert P. Casey ’53.

Three generations of the Lynett fam-ily have attended Holy Cross, begin-ning with Edward J. Lynett ’28, Georgeand Cecelia’s father; James and Cecelia’sdaughter, Jean Haggerty McGrath ’89;their son, Daniel ’97; and George’s son,George V. Lynett, Jr. ’94.

President Michael C. McFarland,S.J., a trustee of the University ofScranton with Cecelia Haggerty, saysHoly Cross has had a strong and long-standing relationship with the city ofScranton and the surrounding area. Hesays, “the Lynett and Haggerty familiesare a big part of that. They have pro-duced a number of distinguished HolyCross graduates who have returned tothe area to become important leaders inthe community. They have helpedensure the continuance of Holy Cross’very valuable relationship with theScranton area and have continued tosupport Holy Cross in many significantways. This generous gift illustratesthat.”

Garrity FamilyHonors W. Arthur, Sr.,Class of 1905

The W. Arthur Garrity, Sr.Professorship in HumanNature, Ethics and Society

honors the life and legacy of W. ArthurGarrity ’05. The Garrity professorship

will be a rotating position, held by adistinguished member of the faculty fora three-year term. Mark P. Freeman,professor of psychology, has beennamed the first Garrity Professor.Freeman says, “It is an honor and aprivilege to be named the GarrityProfessor. I’m especially excited aboutthe course I’ll be teaching to first-yearstudents at the College. One of itsmain goals is to help them find anappropriate balance between realismabout the human condition and hopeabout our prospects for fashioning abetter, more just world. It’s an immensechallenge and responsibility.”

W. Arthur Garrity Sr. was born inWorcester, educated in the Worcesterpublic schools, and graduated fromHoly Cross magna cum laude at age 19in 1905. After attending Harvard LawSchool, Garrity practiced law inWorcester for more than 50 years. Aformer president of the WorcesterCounty Bar Association, Garrity active-ly practiced law until he was 89 years-old.

Three Garrity sons attended HolyCross: the late Hon. W. Arthur, Jr.L.L.D. ’41 H’76, James L. ’43, and thelate John T. ’45. Garrity’s daughter,Margaret G. Shea, resides in Worcester.Among Garrity’s 23 grandchildren, 10

James ’57 and Cecelia Lynett Haggerty P’97, ’89 with Patricia and George Lynett’65, P’94

are Holy Cross graduates including:Charles A. ’76, Anne Garrity Singleton’78, Jean M. ’81; Hon. James L., Jr. ’77,Deirdre Garrity Heilbron ’79, John B.’80, Sarah ’82, and Paul W. ’89; JohnT., Jr. ’71, and David M. ’83. Twogreat-granddaughters, Anne BradyFlynn ’04 and Rosemary Rooney Flynn’05 currently attend the College.Rosemary will receive her degree 100years after her great-grandfather washanded his by President TheodoreRoosevelt.

Track GreatContributes to the Team

William Merritt ’58, a part-ner in KM Group/Seaboard Realty, LLC in

Stamford, Conn., has pledged $50,000to support the installation of anadvanced scoreboard system at thetrack/field artificial turf complex behindthe Hart Center. Merritt, a former cap-tain and stand-out runner on the trackteam, who still holds records in the 440and 500-yard dashes, has been instru-mental in the track fund-raising initia-tive.

Merritt is a 1964 graduate ofHarvard Law School. He and his wife,Christine, live in Darien, Conn. Theyhave three children, W. Tyler, Brian andElizabeth. In 1957, Track and FieldNews ranked Merritt seventh among themiddle distance runners in the worldand in 2002 he is still running threemiles a day, four times a week, oftenwith Bob Daly ’57, captain of both the’56 and ’57 teams.

The track fund-raising initiative ispart of a larger plan to raise funds dur-ing the campaign to support athleticprograms. Over one-third of Holy Crossstudents participate in NCAA DivisionI sports and nearly all benefit from theathletic and wellness facilities on cam-pus. The Track and Field programaccounts for six of the College’s 27 var-sity sports, and the men’s and women’s

Winter 2002 ❖ Lift High the Cross 55

William Merritt ’58

James Garrity ’43, Rev. MichaelMcFarland S.J., Barbara Garrity,Rachel Garrity, Mark Freeman, andMargaret Shea

Lift High the Cross ❖ Winter 2002 56

programs have more than 100 student-athletes competing throughout the aca-demic year. It is the intent of the fund-raising effort to re-establish the highlevel of success for which the track pro-gram was once known. Richard Regan,director of athletics, says Merritt’s giftadds an important piece to the puzzle,“We have a first-class outside track facil-ity, but one element that was missingwas a top-quality scoreboard. ThroughBill Merritt’s generosity, we will nowhave that.”

Morans NameStudent Lounge

Jim ’75 and Loretta Moran P’00,’05 have committed $100,000to the campaign and will name

the fourth floor student lounge inSmith Hall. The lounge is a quiet placefor study and reflection. Jim says theroom “is a very beautiful spot withgreat views of the upper campus, Hoganand the library. I would imagine thatlate in the afternoon or evening, itwould be a very peaceful spot for read-ing or studying. I remember doing a lotof both of those activities when I was astudent, and I instinctively gravitated tothe space.”

The Morans live in Manassas, Va.,and have two children, Jamie ’05 andKatherine ’00. Jim says he feels a senseof pride that his children have followed

him to Holy Cross and theNROTC program. The three ofthem are able to talk about theirexperiences on The Hill, and enjoy“a significant commonality ofexperience that spans the genera-tions,” he says. And thoughLoretta is not herself a Holy Crossgraduate, she is, according to Jim,the force behind the gift.

“As a parent of a graduate and acurrent student, Loretta feels astrong tie to Holy Cross values,”Jim says. “We both feel that theHoly Cross mission ‘to educateyoung men and women for others’is a goal worthy of our supportand something very much neededin our world.”

Love of MusicPreserved

Four former roommates ofMeghan P. Aherne ’00, amusic major who died sud-

denly in the summer of 2001, are work-ing to establish a scholarship in hermemory. Because funding an endowedscholarship seemed out of reach forthese young graduates, they exploredvarious ways to honor their friendbefore deciding to fund voice lessons fora non-music major. Kate Kennedy ’00says Aherne’s friends wanted to find away to ensure that her love of music

would continue. While music majorsreceive voice lessons as part of the cur-riculum, this scholarship will allow anon-music major to further his or hertalents.

Kennedy describes Aherne as unas-suming and quiet except when she sangonstage, where she was poised, radiantand confident. Kennedy says she wasawed by the loveliness of her friend’svoice and by her positive attitude aboutlife: “Though we only knew Meghanfor five years, she taught us a pricelesslesson—to live and love your life. It isthat lesson that we would like to sharewith Holy Cross students for years tocome—through giving them an oppor-tunity to sing for the pure enjoyment ofit, just like Meghan did.”

Aherne grew up in New Hampshireand was working at Berklee College ofMusic in Boston at the time of herdeath. To help build the Meghan P.Aherne Music Scholarship, members ofthe scholarship committee plan a fund-raiser in Boston on May 4 featuringHoly Cross alumni bands, and a concertat the College July 20 with performanc-es by alumni, students and faculty. Formore information, contact KateKennedy ’00 at (617) 629-5930 orJaime Grande ’99 at (617) 767-4273.

J. O.’C. D.

Meghan Aherne ’00

James ’75 and Loretta Moran P’00, ’05

Winter 2002 ❖ Lift High the Cross 57

According to O’Leary, “A charitableremainder unitrust is not an elitist vehi-cle only for the wealthy.” He notes thatpeople in the workforce continue toaccumulate wealth in different ways,specifically through life insurance andproperty. “These assets grow and appre-ciate in value,” he says. “If you don’tstructure estate planning, your heirscould be blindsided and have to sell cer-tain property to pay tax obligations.” Heurges others to take steps to avoid thatsituation.

By establishing this unitrust, O’Learyreduced the value of his holdings, thusminimizing the estate taxes his heirs willface. He also realized an immediate taxbreak for the year in which the gift wasmade. In return, O’Leary receives a per-centage of the gift as guaranteed, taxableannual income. One of the most influ-ential reasons for his generosity at thistime is his upcoming 40th reunion.“Most of us are thinking about the sec-ond half of life, including retirement,”O’Leary says. “Also, our children havebeen educated and are now on theirown. It’s time for celebration and timeto think of giving back, particularly toHoly Cross.”

As his classmates also approach theirretirement years, O’Leary suggests thatthey, too, assess what Holy Cross hasdone for them. “I know that it was apositive experience for me. I have been,and will continue to be, loyal to thisschool.”

Phyllis Hanlon is a free-lance writer fromCharlton, Mass.

wo momentous occa-sions—his 40th-collegereunion andretirement—are givingWilliam J. O’Leary ’62the opportunity he’s

long been awaiting. Combining hisstaunch loyalty and love for Alma Materwith smart financial planning, O’Learyhas created the William J. and DonaO’Leary Scholarship Fund, subsidizedby a $200,000 charitable remainder uni-trust.

With a bachelor’s degree in econom-ics in hand, O’Leary set out 40 yearsago to establish himself in the world.He landed a job in the telephone indus-try and spent 34 years at AT&T build-

ing a solidcareer. The edu-cational back-ground hereceived fromHoly Crosshelped preparehim for thecompetitive, fast-paced businessenvironment.“My educationgave me an intel-lectual exercisein thinking, rea-soning, logic andpresentationskills,” he says.In addition to astrong academicfoundation, theschool lent sig-

nificant moral support to O’Leary dur-ing his four-year term. “Holy Crosstaught me the importance of values,” hesays. “You can’t put a dollar amount onthat.”

O’Leary’s appreciation, in the formof annual $10,000 gifts, has earned himmembership in the President’s Councilat the benefactor level. For the last fiveyears he has served as chair of the Classof 1962 and as class bequest chair. Inspite of his generosity, O’Leary insiststhat he is still a “plain, ordinary Joe.”“I’m just a guy who saved his moneyand watched his ‘p’s and q’s,’” he says.

Upon retirement in 1996, O’Learylearned that his current investments,assets and insurance policies might pres-ent a hefty tax bill for his family uponhis demise. After multiple planning ses-sions, O’Leary and his financial advisorsarrived at what he considers “the perfectsolution”—a charitable remainder uni-trust.

T

Planned GiftsPriceless ValuesBy Phyllis Hanlon

William J. O’Leary ’62

Park B. Smith ’54, Stephen Ainlay P’05 and Jack Rehm ’54John ’70 and Margaret Millerick P’04 with sons Christopher’00 and Shawn ’96 and Sarah Higgiston

Brian ’93 and Jennie Allen

William ’67 and Patricia McEachern

Sherry Durnan, Pat McCarthy ’63, Paul Durnan ’63, and BevMcCarthy P’89, ’87, ’86

Jennifer Burns ’96, Mara Terlizzi ’96 and Constance Eagan ’81

Ann Halleron Eagan ’87, Meghan M. Halleron’94 and Rebecca Halleron P’03, ’94, ’88,

Tom Ryan ’76, John O’Neill ’63 and PeterCahill ’63

Arthur Andreoli ’58

John Roe ’80, Chris ’80 and Donna Doherty ’81, ElizabethSprague ’80 and Charles Wilson ’80

Braden Mechley ’92 and MargotDeKorte ’95

President’s Council GatheringThe 34th annual President’s Council gathering inKimball Hall on November 10 provided members achance to be together in a warm and familiar setting.First came drinks, dinner and a program hosted byBrian Leary ’77. The public phase of the College’s$175 million campaign, Lift High the Cross, wasannounced by campaign chair Jack Rehm ’54 andPresident Michael C. McFarland, S.J., and more than900 people were treated to a rousing and original pag-eant put on by the theatre department. Followingdessert, many guests adjourned to Lower Kimball forcoffee and more conversation.

Scholars & BenefactorsThis year’s Holiday Reception honoring scholarshipdonors and award recipients was held in Loyola Hallon December 5. More than 120 scholars and benefac-tors had an opportunity to meet one another and talkbefore attending the annual Festival of Lessons andCarols at St. Joseph Memorial Chapel.

John and Barbara Small P’03

John Hamill ’61

Laura Virzi ’99, Brian Estaphan, Nancy P’00 and Vito Virzi ’70

Jonathan Young ’03, Katie ’81 and ShawnLevesque

Sr. Eunice FitzGerald, Michele Rugo, AndrewCostanzo ’05, John Rugo ’79 and Maureen Rugo

Ryan Serravalle ’02, Amanda Abraham ’02, Maureen Glowik, Jen Glowik ’05and John Glowik ’73

Christopher ’80 and Cathy Collins ’80with Sandra Tirrell ’03

Caitlin Farrell ’04 andLawrence Durkin ’47

John Hogan ’50, Neal Lucey P’77 and PhilipO’Rourke ’50

Maryellen and MichaelCollins, M.D., ’77

The Scene