The Fred and Ginny McGill Society
The Fred and Ginny McGill Society honors those who, like the McGills, have a bright vision for the future of the Shoals, are committed to the preservation of the islands for future generations, and have shown that commitment by including Star Island in their estate plans. While so many Shoalers are generous during their lifetime, for some, a larger gift comes as a bequest.
All estate gifts go to the Star Island Permanent Trust to help insure the island’s future. Income from the trust is used to help offset operating expenses. In 2007 and 2008, the trust made the significant gift of nearly $1 million to the Star Island Corporation to pay for necessary safety work and to help offset revenue lost to our late opening summer 2007. We are all working to replenish these funds as soon as possible; future gifts will help the endowment grow so that it offers increasing support to Star over future years.
There are many ways you can join the McGill Society. These include:
- Naming Star in your will or adding a codicil to your existing will.
- Designating Star Island the beneficiary of a certificate of deposit, life insurance policy, commercial annuity or retirement plan.
- Opening a bank account in trust for Star Island.
- Giving a remainder interest in a residence or farm.
- Creating a Charitable Remainder Trust.
- Establishing a Chariatble Gift Annuity (Note: Star Island Corporation CGAs are held by the Unitarian Univeralist Association until maturity).
Do consider including Star Island in your estate plan. Your gift will help ensure that Star Island will be here for our grandchildren and their grandchildren.
If you have already done so, please let us know. We would like to include you in the Society and present you with a commemorative pin in appreciation of your generosity.
If you would like more information about ways to become part of the McGill Society, please contact Angela Matthews, Director of Development, at
or (603) 430-6272.
Naming Star in Your Will
Naming Star Island in your will is the easiest and most profound way to ensure its future.
Charitable Gift Annuities
A Star Island Gift Annuity can provide you with the opportunity to make a smart financial investment in your own future during these times of low interest rates, while supporting Star Island.
The rates for a Star Island Gift Annuity are based on ages of the annuitants. There are single-life rates and joint and survivor rates for two individuals. Older annuitants receive the highest rates. And if cash is used to purchase a Star Island Gift Annuity, a considerable portion of each annuity payment is tax-free.
Our annuities, administered through the UUA, use rates recommended by the American Council on Gift Annuities.
Charitable Gift Annuity rates vary as well for two-lives and for deferred gift annuities (payments begin at age 65 for contributors between age 55 and 65).
The Planned Giving program at Star Island Corporation is supported by the Unitarian Universalist Association, which manages our Charitable Gift Annuities. The minimum age is 55 and the minimum gift is $5,000. This program is open to anyone who would like to support Star in this way, regardless of religious affiliation. And when you make a gift through this program you will automatically become a member of the McGill Society.
Retirement Plan Assets Estate Language
You may name Star Island as the beneficiary of your retirement benefits. Donors should consult with financial advisors regarding the tax benefits of such gifts.
Naming Star Island as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or pension plan will accomplish a charitable goal while realizing significant tax savings. Retirement plan assets are often subject to extremely high estate taxes and the income is fully taxable when received by an individual beneficiary. Making a charitable gift may be a better use of this type of asset. By naming Star Island as the beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor’s death the plan passes to Star Island free of both estate and income taxes. As a result of the gift of retirement funds, the donor’s other assets, such as cash and securities, will not be as highly taxed to his or her heirs.
To make a significant future gift to Star Island or to a specific purpose at Star Island through your retirement plan (401k, 403b, IRA’s):
• Name Star Island as a primary beneficiary of part or all remaining assets in your retirement plan at your death.
• Name Star Island as a contingent beneficiary.
• Name Star Island at the death of your surviving spouse.
Simply request a change of beneficiary form from either your employer or the financial institution managing your retirement plan(s). Make the necessary changes, return the form to your retirement plan manager and notify Star Island of your intent.
The information above is not intended as legal, tax or investment advice. For such advice, please consult an attorney, tax professional or investment professional.
For more information about the McGill Society or to receive an illustration of how you can help Star Island and receive a lifetime income and tax benefits through a UUA charitable gift annuity, contact Angela Matthews, Director of Development, at (603) 430-6272 or via email at