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Alumni Profile: Len Bell '47

Phyllis and Len Bell ’47When he was just sixteen, Len Bell '47 enrolled at Bowdoin. It was during the summer after his junior year at Lewiston High School, and he enrolled at such a young age through a special agreement between the College and Maine schools. "It was wartime," Bell explains. "There weren't too many of us—civilian students —on campus." Everyone on campus, including Len and classmates Shepherd Lee, Burt Moore, Leonard Gottlieb, Warren Court, Bob Morrell, and others, ate all their meals together at a fraternity house.

Bell was business manager of the Bowdoin Orient, and he co-chaired the College's first Red Cross campaign. When more students started arriving after the war ended, he helped re-start the fledgling football program. "It was a makeshift schedule," Bell remembers, "really just games against Bates and Colby." Bell and a classmate ran the hot dog concession stand, which helped him pay back his parents for part of the cost of his Bowdoin education.

After graduation, Bell moved back to Lewiston and established Bell Manufacturing Company. After a career in the business and retiring as President of the company, Bell became a general partner of Private Investments in Boston. Throughout that time, he also was active in numerous national Jewish organizations and political campaigns, both locally and nationally.

Both Len and his wife Phyllis, who attended McGill University, recognize Bowdoin's importance to Len's professional and personal development. "It literally changed my life," Bell says. Hoping to extend this same opportunity to others, particularly students from Maine, the Bells established the Phyllis and Leonard Bell Scholarship Fund in 2007. The Fund provides financial aid for Bowdoin undergraduates, with a preference for needy Maine students.

Len and Phyllis have lived in Highland Beach, Florida, since 1984. They have two daughters and three grandchildren.

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A charitable bequest is one or two sentences in your will or living trust that leave to Bowdoin College 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

"I give to Bowdoin College, a nonprofit corporation currently located at 4100 College Station, Brunswick, ME 04011, or its successor thereto, ______________* [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 a charitable account sponsored by a public charity that donors use to support their philanthropy.

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.

A lead trust holds appreciating assets for a term of years (or for your lifetime), and makes quarterly or annual payments to Bowdoin College. The College benefits from the stream of reliable, steady gifts from the lead trust, and you're able to witness the impact of your gifts during your lifetime. At the end of the trust's term, all remaining trust assets are distributed to your designated beneficiaries with greatly reduced (in some cases zeroing out) gift and estate tax, regardless of how much the trust has grown.

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 Bowdoin 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 Bowdoin 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 Bowdoin where you agree to make a gift to Bowdoin 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.

With a retained life estate, the donor(s) irrevocably deeds a personal residence or farm to the College, but retains the right to live in it for the rest of his/her life, a term of years, or a combination of the two. The term is most commonly measured by the life of the donor or of the donor and the donor’s spouse.

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