Whitworth's Legacy Challenge

Generating Impact for Tomorrow and Today

Roberta Nicholson with her dog

Roberta and Delilah, her beloved rescue Doberman pinscher

Roberta Nicholson, '60, recently learned about Whitworth's new Legacy Challenge, an exciting opportunity provided by trustee Walt Oliver, '67, and his wife, Kay. When you let Whitworth know of your bequest intentions, Walt and Kay will provide a one-time match of up to $5,000 to support a current strategic objective of The Campaign for Whitworth.

Roberta loves Whitworth. Her enthusiasm is contagious as she talks about her experience as a student, arriving from Southern California in 1956 without ever having seen the campus. She chose to attend Whitworth "on faith" when a member of her church recommended the school.

As a secretary sciences major, she enjoyed everything about her Whitworth journey, particularly the mentorship of Anna J. Carrel, a professor of music history and literature. Her relationship with Dr. Carrel was special, she says, and the two corresponded for many years after Roberta graduated.

Having just received Whitworth's endowment report for the Anna J. Carrel Endowed Scholarship, she began thinking about how she could help students as well as honor her favorite professor.

Roberta met with institutional advancement's Stacey Kamm Smith, '86, who suggested using the value of Roberta's home to fund a bequest to Whitworth. "When we looked up how much my home is worth, it got me excited about making this bequest a reality," she says.

With the Olivers' match as an incentive, "everything came together," Roberta says. Getting her estate in order turned out to be an easy process. Her attorney helped her to put her house into a trust and then to designate Whitworth as the primary beneficiary of her estate.

Today, Roberta says she would choose Whitworth all over again. "Whitworth prepared me for life," she says. Roberta taught elementary school in the Los Angeles Unified School District for 36 years; she currently volunteers as a quilting instructor at the Simi Valley Senior Center.

By letting Whitworth know of her intent now and taking advantage of the Legacy Challenge match, Roberta, and her future gift, will make a difference for students today. This, she says, is "a winning combination."

For more information about this terrific match opportunity, please email Holly Norton at hnorton@whitworth.edu or visit www.whitworth.edu/legacychallenge.

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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