Alumnus David Margulies Has Committed to Supporting Feinberg School of Medicine Through His Estate
David and Mary Margulies

David ’61 MD and Mary Margulies

David Margulies ’61 MD was introduced to medicine by his father, who owned a small pharmacy in New Jersey. Dr. Margulies grew up helping with all aspects of the business, from delivering orders on his bike to filling prescriptions. He earned an undergraduate degree in pharmacy from Columbia University before deciding to apply to medical school. In 1957, he was accepted to Northwestern University School of Medicine (now Northwestern University Feinberg School of Medicine).

Dr. Margulies continued to work part-time as a pharmacist at a small neighborhood pharmacy during medical school, earning enough to help cover his tuition. “I was able to get an excellent medical education without the stress of student debt,” Dr. Margulies says. “I want to give future generations the same opportunity.” With this in mind, Dr. Margulies and his wife, Mary, have committed to supporting Feinberg through their estate plan.

A Promising Future

Early in medical school, Dr. Margulies was drawn to the field of obstetrics and gynecology, which offered a mix of patient care, medical, and surgical opportunities. Through a partnership with the Chicago Maternity Center, a home birthing clinic on Chicago’s then impoverished West Side, Dr. Margulies worked with expectant mothers and delivered his first babies. He also trained under John Brewer, former chairman and chief of services of the Department of Obstetrics and Gynecology at Passavant Hospital, which later became Northwestern Memorial Hospital.

“The professors at Northwestern set a standard of excellence,” Dr. Margulies says. “The lessons I learned in medical school shaped my career.”

Dr. Margulies went on to complete an internship in obstetrics and gynecology at George Washington University School of Medicine in Washington, DC, a residency at Charity Hospital of Louisiana in New Orleans, and a tour of duty in the Air Force, during which he was stationed at a military hospital in France. In 1967, he returned to the Washington, DC, area and began practicing obstetrics and gynecology at a health maintenance organization (HMO) before transitioning into private practice. He went on to open a successful solo practice and serve on the clinical faculty of George Washington University.

Gifts That Keep on Giving

Now retired after nearly 40 years in practice, Dr. Margulies has chosen to leave a legacy at Feinberg. He and his wife plan to establish the Dr. David M. and Mary Pim Margulies Endowed Professorship in the Department of Obstetrics and Gynecology at the end of their lifetimes. They also will continue to support the Dr. David M. and Mary Pim Margulies Scholarship Fund.

To realize these goals, the couple has established a charitable remainder trust and charitable gift annuity through Northwestern. These giving vehicles allow donors to make tax-deductible gifts of cash or appreciated assets to the University and receive lifetime income benefits in return. When the donors pass away, Northwestern receives the remainder of the gifts.

Dr. and Mrs. Margulies have included a generous bequest to the University in their estate plan as well. Bequests—most often made through a will or trust—are an effective way to make a significant impact at Northwestern. They can be structured to support a particular school or program, or to offer unrestricted support to the University. Bequests are simple and revocable, allowing donors to retain control of their assets while they are alive.

“My gifts are an expression of gratitude for the superior education I received at Northwestern,” Dr. Margulies says. “Through them, I hope to create a legacy at the medical school that lives on in perpetuity.”

Leave Your Legacy

Through a gift in your estate plan, you can ensure that future generations of Northwestern students have the opportunity to thrive. Contact Northwestern Gift Planning at 800-826-6709 or giftplanning@northwestern.edu to learn more.

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

"I give to Northwestern, a nonprofit corporation currently located at 633 Clark Street, Evanston, Illinois 60208, or its successor thereto, ______________ [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 Northwestern 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 Northwestern 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 Northwestern 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 Northwestern where you agree to make a gift to Northwestern 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.

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