Creative and Consistent Giving Defines Alumna’s Legacy

Georgene PattenGeorgene Patten, a graduate of the Whitworth Class of 1950, was honored during Homecoming Weekend this year with the 2015 Alumni Service to Whitworth Award for her ardent lifelong desire to educate young people's minds and hearts.

Funding education for the caliber of students who attend Whitworth has been one of Georgene's defining passions, evidenced by her philanthropic creativity. Since 1997 she has been active in the Whitworth Auxiliary, a fund-raising group that supports Whitworth students. Georgene served as president of the auxiliary from 2003-05; fund-raising projects under her leadership included the marketing of a Whitworth afghan, designed by Professor Emeritus of Art Pauline Haas. While Georgene has served on many auxiliary committees, she says she would especially like to be remembered "for my passion in working to establish the Whitworth Auxiliary Endowed Scholarship." The scholarship and its first award, given this fall, honors the auxiliary's centennial, in October 2015.

In the 1990s, Whitworth's "Adopt a Scholar" program sparked Georgene's interest in making annual contributions to the Whitworth Scholarship Fund. She is especially proud of her "$10 Makes a Difference" campaign, which she began during Bill Robinson's tenure as Whitworth's president (1993-2010). After hearing Robinson's story of a student Phonathon caller who liked to share with alumni that "even $10 will make a difference," Patten turned a spontaneous giving opportunity at an auxiliary Christmas gathering into an annual tradition. Every year, $10 bills collected from attendees at this gathering are donated to the President's Discretionary Scholarship Fund.

Patten's family established the Les & Georgene Patten Scholarship in honor of Georgene's late husband, Les, a graduate of the Class of 1950, Whitworth championship tennis player and 1994 inductee into the Whitworth Heritage Gallery Hall of Fame. Georgene has also established three charitable gift annuities with The Whitworth Foundation and has named Whitworth the beneficiary of her IRA; the proceeds of these gifts will benefit the Patten Scholarship.

Georgene's favorite quote, a Chinese proverb, defines her Whitworth legacy:

If you are planning for a year, sow rice.
If you are planning for a decade, plant trees.
If you are planning for a lifetime, educate people.

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

Bequest Language

I hereby give, devise and bequeath to Whitworth University, a nonprofit corporation located in Spokane, Washington, and a tax-exempt organization under Section 501(c)3 of the Internal Revenue Code,      gift of what       (the sum of $               ; or            % of my estate; the residual of my estate; or the personal/real property described herein) to be used for        purpose      (general and unrestricted use; endowment; academic programs; scholarship; facilities etc)

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 Whitworth 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 Whitworth 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 Whitworth 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 Whitworth where you agree to make a gift to Whitworth 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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