Dominick Medico Leaves Legacy of Support with Estate-Plan Gift

Dominick “Dom” Medico was an Ave Maria University founder and ardent benefactor since 2009. After spending several decades as an engineer with Varian Associates in the Bay area of California, Dom retired to Sarasota. He had accumulated a substantial amount of highly appreciated Varian stock through employee stock options and would periodically sell portions of his stock in order to change an investment position and earn income through bonds.

In 2020, when Varian received an acquisition offer from Munich-based Siemens in an all-cash transaction, Dominick decided to place $500,000 worth of his Varian stock in a charitable remainder annuity trust (CRAT) for the benefit of Ave Maria University.

In addition to benefiting the University, Dom personally received significant benefits: (1) a tax deduction—he received a large charitable deduction spread over five years following the transfer; (2) income—the CRAT paid him 8% annually with any tax on the payments offset by the five-year carryover of the charitable deduction; and (3) avoidance of tax—he avoided capital-gain tax on the Varian sale.

When Dom was called home to the Lord in February 2023, the CRAT remainder, which was close to $400,000, came to Ave Maria University in his memory. In addition, Dominick generously chose to name Ave Maria University the designated beneficiary of his IRA, his brokerage accounts, and his bank accounts, totaling another $1.1 million.

Please join us in praying for the repose of Dom’s soul and the consolation of his loved ones as well as in thanking the Lord for the gift of Dom’s life, which has touched so many—especially here at Ave Maria.

Also, please keep our students in your prayers, particularly our upcoming graduates, praying they may take all that they have learned and lived at Ave Maria University and renew our Church and our culture. In other words, that they may honor the trust and confidence Dom had in the University by truly being a source of renewal.