Top 5 Reasons You Should Tell Us About Your Legacy Gift to Purdue
Every year the Giving USA Foundation, in partnership with the Center on Philanthropy at Indiana University, releases a study on the status of charitable giving in the United States. In their 2011 report, it was estimated that the total giving from all donors in 2010 was $290.89 billion. Seventy-three percent (73%) of those gifts, $211.77 billion, came not from large foundations and corporations, but from individual donors just like you. Nearly eleven percent (11%) of those individual gifts, $22.83 billion, came in the form of charitable bequests; an impressive number when you consider only one in ten Americans have a will.
As a member of the R. B. Stewart Society, you understand the importance of those individual legacy gifts, and you have shared with us your intent to leave something behind for the many generations of Purdue University alumni that will follow in your footsteps. On behalf of a grateful University and future Boilermakers everywhere, we thank you.
In addition to telling us about your gift, many of you have also taken the opportunity to share how you want your legacy gift directed to Purdue. You may have entered into a deferred endowment agreement, dutifully updated your R. B. Stewart Society invitation and many of you provided an estimated value of the gift you are leaving to Purdue. For those of you who have not, we previously asked you fairly regularly for an estimate of your gift to the University and how you intend to direct it. While we certainly do not intend to pester, there are several good reasons for our inquiry. Here are just five of the many reasons you should consider sharing the details of your legacy gift:
- RECOGNITION – Documenting your bequest expectancy will allow Purdue to recognize you now for your future gift. As a member of the R. B. Stewart Society and other giving societies, you will be invited to exclusive donor events and can enjoy the company of fellow alumni and friends who made the choice to leave a legacy gift to our great University.
- PEACE OF MIND – Providing the University with a copy of your bequest helps to ensure your wishes are met. If you designate a specific purpose or program, we can review the language to make sure Purdue can follow through on your intentions and, in the case of an endowed fund, that necessary endowment language is included.
- DESIGNATE A PURPOSE – If you have not yet designated a purpose, you can sign a Letter of Direction specifying a purpose. A signed Letter of Direction and copies of your bequest documentation will complete our records and be kept safely in our files.
- INSPIRING OTHERS – If you document your bequest, the estimated value will be included in our fundraising totals and inspire other Purdue alumni and friends to give by bequest. Estate gifts are a crucial source of support for the University.
- NO OBLIGATIONS – Please understand that by documenting your bequest you are in no way making your bequest binding or irrevocable. We do not rely on the bequest expectancy for budgeting or cash flow, but it does inform us as to the programs that are important to you as a friend or alum of Purdue. You can always change your estate plan if your circumstances or priorities change, although we do ask you to notify us as a courtesy if that happens.