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Planned Giving

From a Very Humble Beginning: Dewey E. Tate, Class of 1962

Dewey and Brenda TateDewey Tate grew up in poverty, the son of sharecroppers who did not own land, but worked it for other owners. He knew there was a better life available if he worked hard enough. He, like many, was willing to do anything to earn a college degree. Jacksonville State University provided him with an opportunity to work on campus to pay for his tuition. He accepted.

For three of his four years as JSU, he washed dishes in the cafeteria. His senior year, he was promoted to a dorm counselor position in Patterson Hall. During his time at JSU, most male students were required to be a part of the ROTC program. Dewey was no exception. His experience in the program taught him the discipline and leadership that he values today. As a result of the program, he excelled when on active duty as an artillery officer.

Dewey was encouraged by his mother to earn a better life. "She was a very strong, intelligent woman" who taught him that he could do anything he desired if he worked hard enough. He proved her right by earning his Bachelor of Science degree in business in 1962. He credits his degree and military experience with teaching him how to effectively get things done through positive leadership. He went on to have a very successful career and retired as vice-president and chief operating officer of the Tensar Corporation in Atlanta, Ga.

Today, he enjoys spending time with his wife, Brenda, and their four children. He and Brenda travel quite often and have gone to Africa several times where they have funded clinics and other aid efforts. Dewey says, "We first went to Africa so that I could take photos of the large animals. One of the guides took us to visit his village. It was a life-changing experience. The people still live a ‘stone age' lifestyle. We felt like we had to find a way to help." And that they did through various aid projects.

Giving back is important to Dewey and his family. He gives back to JSU because it "provided a way to earn a college degree for someone without money." He says, "Working several hours a day washing dishes in a cafeteria was not fun, but it resulted in my getting a degree. That degree changed my life in many positive ways, giving me a better life than I would otherwise have had."

From his generosity, 20 students have benefitted from the Dewey E. Tate ROTC Scholarship at JSU since 2007. And the giving hasn't stopped there. Dewey and Brenda have recently established the Dewey E. Tate Scholarship fund at JSU for students who have a need for financial assistance, excel academically, are involved in community service, and who are willing to give back to the scholarship fund upon entering their career.

The Tate family is leaving a legacy for future students to maintain.

Tate's advice to any young person is to do whatever it takes to earn a college degree. As he says, "The result is life-changing; certainly it has been for me."

Discover the many ways you can leave of legacy for others to follow and help future JSU students fulfill their dreams.

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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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