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Why I’m leaving retirement fund assets to McGill

Music grad Joan Tousey explains her motivation for making an impactful gift

Joan Tousey and her son

The years I spent in Montreal and at McGill were formative ones for me. I’d grown up in a small town in central New York state. McGill is where I became an independent adult: I took the Metro, had my first apartment on Mansfield Street, and met people from across Canada and around the world. 

Music history, with a minor in piano, was my major at what is now the Schulich School of Music. I’m extremely appreciative of the world-class education I received at what was then a very modest price. In my early professional life, I went on to work with the Saint Louis Symphony Orchestra, the Toronto Symphony Orchestra, and the National Youth Orchestra of Canada, and my degree helped me in securing those positions. 

From those administrative positions in the performing arts I then transitioned into a fundraising career focused on higher education, spending over 20 years at the University of Illinois at Urbana-Champaign and retiring as Associate Dean of Advancement. As a fundraising professional, it became apparent to me how important it was to give back to the institutions that have impacted one’s life. And while I started giving small annual donations after graduating from McGill, and increasing my annual contributions, I now have the financial means to make a more impactful gift.

That is my objective in leaving a legacy gift for McGill: I have designated McGill as a beneficiary of a portion of my retirement plan assets. I am fortunate enough to be in an income bracket where it makes sense to consider estate taxes, and my son, an accomplished investor and tax planner himself, encouraged me to examine the tax benefits of my gift. (Tousey and her son David are pictured above; David is also son of the late Mark Proudfoot, BCom'76.)

I’ve become aware that I have assets that can not only support a non-profit institution like McGill, but also help me and my heirs in terms of effective tax planning. This was the best approach for me.”

There’s no doubt that my career in fundraising has influenced my interest in supporting my alma mater, but I feel that everyone needs to consider doing what they can in the long term to support the institutions that helped shape their lives. Giving back means I’m still involved at McGill, even though I haven’t lived in Montreal since 1976, and moved back to the States in 1994. And from what I see and read, McGill continues to be one of the best institutions in the world. That excellence cannot be taken for granted, so it is vitally important for me and fellow alumni to make the important decision to support McGill both on an annual basis and through an estate provision.

What will your legacy be?
McGill is celebrating its 200th anniversary with the goal of securing 200 legacy gifts. For more information, please contact us.

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