Dartmouth is an institution very near and dear to its students' hearts. And for some, the hill-winds stay in their veins all throughout their lives. So much so that when they are writing their wills, the old alma mater is not forgotten.
"There is a long tradition of Dartmouth alumni providing for the College through estate gift," Thomas Farrell, director of bequest and trust, said.
According to Farrell, the trend for contributions has been rising and "this year has been a very successful year," he said. Last year, 66 bequests were realized, amounting to $57.27 million, he said. In 1997, 62 realized bequests left $27 million to the College.
The average is around $9 to $10 million over the last 10 years, Farrell said.
"Each of us is going to be around for a while and then gone, and Dartmouth being an institution, goes on forever; is eternal, so you can really do something with your money," said Dudley Smith, president of the class bequest chairs.
"Dartmouth is an incredibly unique place, and probably the best teaching liberal arts place in the country," Smith said.
While some bequests are made with specific areas of the campus in mind, the vast majority is unrestricted, Farrell said. Once these bequests are realized, the treasurer's office in conjunction with the administration allocates the money, he said.
Bequests tied to specific programs are directed at many areas of the campus. The most popular beneficiaries are scholarships, the alumni fund, the library, Dartmouth Medical School, Tuck, Thayer, athletics, the Hood museum and the Hopkins Center, Farrell said.
Sometimes a bequest is formulated with the condition that the money be given to a scholarship that must be granted to a relative of someone from the same class as the donor.
Beginning at the 25th reunion, classes organize alumni leadership to support and encourage estate donations. The Bartlett Tower Society is the recognition society for those who have made estate provisions.
According to Smith, alumni who include the College in their estate planning form a very diverse group.
"They're a cross-section of the class, not only wealthy people," he said.
Smith is himself a donor. When asked his personal reasons for including the College in his will, Smith said none of his three sons went to Dartmouth.
"I don't want them to give [my estate] to Amherst or Boston College. I'd rather give it to Dartmouth."
Smith was elected president a year ago. His duties include educating classmates on the benefits of including Dartmouth in their estate plans and organizing an annual leadership meeting for bequest chairs, he said.
"It's certainly not a hard sell. I offer the opportunity to people of means, and not means, to give back to a place that has made a big difference in their lives," Smith said. "A lot of people are quite interested in knowing more about it."
