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Todd Lightbody and Connie Shattuck

A Gift of the Heart

Todd Lightbody and Connie Shattuck met while taking a class during their undergraduate years at the University of Redlands in the late 1960s. They started talking "in between" their class meeting times, and the rest, as they say, is history. While enjoying their respective careers in insurance and education, Todd and Connie Lightbody have remained loyal donors and committed volunteers to the University of Redlands. They have served on the Alumni Association Board of Directors, led the Orange County Alumni Club, organized service opportunities for Bulldogs in Service, served on the President’s Circle Leadership Committee and more.

 Now retired, in October 2010 the couple made a gift of over $100,000 to establish the Todd L. and Constance S. Lightbody Endowed Scholarship. Proceeds from the endowment’s earnings will be awarded each year to undergraduate students in the College of Arts and Sciences who have demonstrated financial need and are in good academic standing.

 "Todd and I agreed that Redlands was a big part of our life—a good experience all around—and was important to us," Connie said recently. "We are hoping to help other students have that same kind of experience." The first Lightbody Scholarship was awarded to Kathleen Porter, a Class of 2013 candidate. Kathleen is from Arvada, Colorado, is majoring in business, and is a community assistant in Grossmont Hall.

 On a recent visit to Redlands from her home in Washington state, Connie had a chance to meet Kathleen. "It was great to meet Kathleen, she is an interesting and lovely girl, and I am excited that she is the student who is receiving the scholarship."

A charitable bequest is one or two sentences in your will or living trust that leave to University of Redlands 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

Bequest Language

"I, [name], of [city, state ZIP], give, devise and bequeath to University of Redlands [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 an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Redlands or other charities. You cannot direct the gifts.

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.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

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

Personal Estate Planning Kit Request Form

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eBrochure Request Form

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