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Planned Giving

Football Team's Efforts to Be Bolstered By Gilberts' Generous Gift

Reed Menger

Taylor Gilbert and his grandson Reed Menger enjoy their time at Taylor's 75th birthday.

Two of the Jacksonville State University football team's biggest fans have given the Gamecocks reason to cheer. Former JSU students Taylor and Adrienne Gilbert have made a bequest in their will to help the football team. "The past two years, we got involved in coming back to JSU football games and encouraged others to do the same," Adrienne says. "We joined the Coxwell Social Room and enjoyed seeing old friends and meeting new ones. We decided to give back by leaving JSU in our will."

The Cropwell, Ala., residents met at JSU and have been married for almost 54 years. Taylor, 75, went through ROTC at JSU and was commissioned second lieutenant in 1956, the year he graduated. Adrienne, 74, attended JSU for three years in the 1950s.

Taylor worked his way to assistant vice president at a construction company prior to purchasing his own construction company, H&F Construction, with a partner in 1972. The company handled projects in 22 states.

Since his retirement more than 20 years ago, Taylor has done some consulting and keeps entertained by numerous hobbies-including football games. "I love football," he says. "JSU football has really come alive and it is an exciting time for the program. I wanted to help and would really like to see them be even more successful." After retirement, Taylor and Adrienne settled on Logan Martin Lake in Cropwell, AL close to Pell City, AL.

Including a gift in your will to Jacksonville State University is one of the most thoughtful ways to benefit the community. Your gift shows forethought, planning and community commitment.

People from all walks of life make gifts, both large and small, to the University, recognizing the role it plays in assisting the community through education, research and community development. Leaving a gift in your will is one way to make the type of gift that you may not be able to make during your lifetime.

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

"I give to Jacksonville State University, a nonprofit corporation currently located at Jacksonville, AL, 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 the Foundation 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 the Foundation 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 the Foundation 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 the Foundation where you agree to make a gift to the Foundation 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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