House Rules

June 13, 2011

By Lisa Lucas

When Ronelle “Roni” Woolston attended The University of Arizona in the late 1960s, she had to follow strict school rules. In addition to having a rigid dress code, students had early curfews. They had to be in by 10 p.m. on weeknights and by the extended hour of midnight on weekends.

“School was much stricter in those days,” Woolston said. “But we managed to have a really great time, make a lot of great friends, and still get a good education.”

It seems those school rules of the ‘60s had quite an impact on Woolston. She graduated from the UA in 1969 with a bachelor’s degree in business and an affinity for economics, a word that translates to “rules of the house” in Greek.

Nowadays, school rules may not be quite as strict, but Woolston believes the changes have not altered the University’s core. “It was a great school in those days and the heart of it is still the same,” she said. “I’ve always thought back on my years at the UA fondly.”

As a tribute to her memories, Woolston and her husband, Clark, are planning to give back to the Eller College of Management and, more specifically, to the department of economics. “We just love the University,” Woolston said. “The school did so much for me that I can’t pay it back enough.”

The Woolstons’ estate plan includes provisions for the Eller College to establish the Clark C. and Ronelle G. Woolston Endowed Chair in Economics, the Clark C. and Ronelle G. Woolston Endowment and the Clark C. and Ronelle G. Woolston Scholarship Endowment Fund. Additionally, the couple donates funds for two scholarships annually.

Outside of their financial contributions to the UA, the couple supports Arizona athletics as spectators of football, basketball and women’s softball games. They also assist with graduate student admission interviews for Eller each semester.

Gift of Retirement Assets - Donors with retirement accounts such as an IRA are often concerned about the two-fold taxation of distributions if a loved one is named as the beneficiary of an account. One solution to this tax predicament is to name the UA Foundation as the beneficiary of the retirement plan. Planning in this manner allows the donor to make a charitable gift from the most highly taxed assets, reserving those assets which do not incur double taxation for family members.