Kim Loucks ’77 has a heart to serve others, a quality that he traces back to his experience as a brother in the Order of Prometheus at SUNY Potsdam.
Kim Loucks ’77 and his wife, Carolyn Hirst-Loucks, have named SUNY Potsdam as a beneficiary of their living trust.
Loucks pledged Prometheus as a sophomore, and his three years as an active brother were marked by fundraisers and initiatives that helped support local families and community needs. “We knew how to have a good time, but we were a service-oriented fraternity,” he shared.
In the ‘70s, Prometheus brothers loyally supported the Tischlers, a local family with seven children, three of whom had muscular dystrophy. One year, the Prometheus brothers even used proceeds from their annual dance marathon to help the Tischlers buy a handicap-accessible van.
Though the fraternity was dissolved in 2015 due to reduced membership, the brotherhood remains as strong as ever. Prometheus celebrated its 50th anniversary in 2018 during Reunion Weekend, and over 85 alumni returned to Potsdam with their families to celebrate.
At that Reunion, Prometheus brothers collected donations for SUNY Potsdam’s campus food pantry in the spirit of their mission of service. Together, they raised over $5,400 and collected multiple totes of nonperishable food items for the pantry’s shelves.
Since then, the fraternity has adopted the food pantry and hopes to name it in honor of the Order of Prometheus. Their goal is to raise $25,000 by the end of this year, and as of May 2021 they have contributed nearly $20,000 for the project. The outright funds they collect will be paired with an additional $25,000 through estate gifts.
Loucks and his wife—Carolyn Hirst-Loucks, an alumna of SUNY Oswego—have chosen to give to the initiative through their estate, designating a percentage of their living trust to support the food pantry.
Student athletes help organize donations in the campus food pantry. Alumni from the Order of Prometheus are approaching their goal to name this space.
The Louckses plan to divide their assets among the organizations and causes that are important to them. “We weren’t keen on not knowing where our money would go,” Loucks shared. “So we sat down and the two of us worked out who we wanted to leave in our trust.”
The couple decided to use their trust to support their alma maters, their church in Sunset Beach, FL, a local literacy council and a local historical society. While the other beneficiaries will receive unrestricted contributions, the percentage for Potsdam will be restricted to the food pantry. As long as the Louckses can guarantee a minimum amount, this allows their pledged gift to count toward the $50,000 needed for Prometheus to name the food pantry. If the food pantry no longer exists when the gift is realized, it will become unrestricted.
“There are people who give to Potsdam to keep the classrooms, and that’s wonderful,” Loucks said. “This is a different way to give, to support something different, because if there are students on campus who aren’t eating, they will never be able to learn well, and their college experience will be a completely lost cause.”
To support Prometheus’s efforts to name the food pantry, visit potsdam.edu/give and type “Prometheus Food Pantry Service Project” in the designation.
Frequently Asked Questions About Living Trusts
What is a living trust?
A living trust is a flexible estate planning arrangement whereby you transfer and manage property in a trust. Whatever remains in the trust ultimately passes to the beneficiaries of the trust as stated in the trust document.
What is the difference between a living trust and a will?
Both living trusts and wills are ways to protect your assets. A will is a legally-binding statement to the public regarding the disposition of your property at death. A will becomes active only after one's death. A trust is active the day it is created. As the grantor of a trust, you may decide to distribute your assets before your death, unlike a will. You can have both a will and a trust.
What information do I need to include SUNY Potsdam as a beneficiary in my estate plan?
You and your attorney can use the following information to include SUNY Potsdam in your trust or will:
Potsdam College Foundation, Inc.
44 Pierrepont Avenue, Potsdam, NY 13676
Federal Tax ID #23-7088021
For more information on trusts or including Potsdam in your estate plan, contact the Raymond Legacy Society.