Alumnae Leadership Council Founder Peg Flanagan’s Gift Is Smart Financial Planning

Photo of Peg Flanagan

Margaret A. “Peg” Flanagan ’80, who helped found Colgate’s Alumnae Leadership Council while serving on the University board of trustees, made a smart estate- and retirement-planning decision when she created a deferred charitable gift annuity with Colgate a decade ago. “I thought it was one small way to provide leadership hoping others might follow,” she said.

Peg and her husband, Timothy, have two adult daughters. In 2023, Peg will begin receiving payments from the annuity, for life, which she funded by selling stock that had a great deal of sentimental value but had declined in monetary value—providing her with a capital loss that helped offset other capital gains. Eventually the remainder from the annuity will go to the University’s endowment with no restrictions on its use. One of the main attractions with this arrangement is that it is not complex, and it can provide additional retirement income while helping Colgate at the same time.

“One of the best ways to support Colgate is through unrestricted endowment,” says Peg, who majored in English Literature and then went on to law school at Georgetown University. “Unrestricted gifts provide Colgate with flexibility and can lead to innovation in programming, curriculum, and partnerships.”

Peg is herself an innovator—termed the “visionary” behind the founding of the Alumnae Leadership Council, whose members have raised millions of dollars for the Alumnae Leadership Fund supporting financial aid as well as emerging and existing student organizations and student leadership programs.

Peg is among Colgate’s hardest-working volunteers, serving as vice chair of the board of trustees, leading a presidential search, and working on the leadership council of the Passion for the Climb Campaign steering committee. “My board service was one of the most interesting and rewarding ways in which I have volunteered my time,” Peg says.

A member of the Willow Society, for those who have included Colgate in their estate plans, most of her favorite memories of her student days at Colgate revolve around sports and adventures shared with her teammates. Peg played field hockey and lacrosse. She was also a member of the Dijon Study Group and graduated cum laude. Peg has a deep affection for the campus itself and how it changes through the seasons. “Buildings and Grounds [department] is an unsung hero of Colgate’s campus—from the Willow Path to the care of the trees and grounds.” She adds, “The smell of newly mown grass and the shrill pitch of a whistle transport me to campus and how great it was to be a student at Colgate.”


The discussion herein is general in nature and may not apply to all individuals. Prospective donors are urged to consult their personal tax and financial advisors concerning the specific consequences of making gifts to Colgate. We would be pleased to discuss, in confidence, ways in which you may support Colgate. These measures may also have an impact on your estate planning.

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