What is a Charitable Bequest?
A charitable bequest is a gift to Southern Oregon University that is made through your will or living trust. While you are alive, you retain complete control of your bequest assets. You may revise or cancel your bequest at any time should your circumstances or desires change. When your estate is settled, the final form of your bequest will determine what the SOU Foundation receives and what it may do with it.
One of the many great attributes of a charitable request is its flexibility. You can give a specific amount of money, an item of particular value (such as shares of stock or a valuable asset), or a specific fraction of the remainder of your estate once all debts and taxes have been paid.
As a donor, you have several options for telling us how to use your bequest once we receive it. For example, a gift to the SOU Fund will be directed to the university’s highest priority. Alternatively, you may designate your bequest for a specific use, such as student scholarships or an academic program that is important to you.
Benefits of a Bequest
- You retain flexibility to modify or cancel your gift anytime.
- You can gift specific assets, especially those that tend to be heavily taxed when left to heirs.
- Your estate will qualify for a federal estate tax deduction when it fulfills your bequest intention. Depending on the size of your estate and the rules at the time your estate is settled, you may save on estate taxes.
- You will become a member of the Julius Churchill Society, named in honor of the university’s first president. Donors in this special group receive exclusive invitations to events and other activities.
- You will create a legacy at Southern Oregon University
Sample Bequest Language
It is important that your bequest is clearly described so that the SOU Foundation can carry out your wishes. We can assist you with language to memorialize your intent.
Here is sample language for a general bequest to guide you and your attorney:
“I give to Southern Oregon University Foundation, an Oregon nonprofit corporation, Federal Tax ID number 23-7030910, with its principal place of business in Ashland, Oregon, [the sum of $ ; description of property; or percentage of residue], free of estate or inheritance taxes, to be used to further the mission of Southern Oregon University.”
Is SOU in your estate plan?
If you’ve already taken the steps to include SOU in your will or estate plan, we’d love to learn more—to thank you properly and ensure that your gift will be used exactly as you intend.
Examples of Bequests & Impact
Sue & Mike Collins Legacy Gift
At the heart of the Collins’ philanthropy lies a deep-seated belief in the transformative force of education and a dedicated commitment to community. The Collins’ endowment fund is poised to bolster academic programs, athletics, and faculty, solidifying SOU’s role not just as an educational institution but as a stalwart community leader.
Wrestling Coach Creates Legacy
In a testament to the unsurprising but remarkable generosity of SOU wrestling coach Bob Riehm, who had a well-known reputation for benevolence, a substantial portion of his estate has been bequeathed to the university’s men’s wrestling program, reflecting the compassionate mentorship that defined Riehm’s legacy for countless student-athletes.
We’d love to hear from you!
Please contact the Office of Development to discuss further your charitable intent. We can provide a personalized document to share with your attorney or tax adviser. Communication with the staff is always confidential and never infers an obligation.