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The scholarships really changed my life and gave me the opportunity to come to Doane. -Dustin Axline '19, Exeter, Nebraska

What's on Your Bucket List?

Burket Graf's bucket list included leaving a legacy at Doane University in the form of an endowed scholarship. Following his death in 2007, Doane University received a distribution from his estate to establish the Burket Graf Endowed Scholarship Fund.

The initial estate gift of $203,548 was invested in the Doane University endowment with the net income designated for scholarships in Burket's name. The fund has already awarded more than $31,000 in scholarships to Doane students. The endowed principal has grown to $271,027, and two students received $5,000 Burket Graf Scholarships this year.

Burket was inspired to invest a legacy at Doane University after attending a school sponsored estate seminar in 1999 where he learned how best to establish an endowed fund with an estate gift.

When planning your estate, giving back to organizations is easier than you may think. Burket, who served on the Doane University Board of Trustees, drafted language in his will to directing Doane University to establish the endowed scholarship fund in his will.

The language is very simple:

I give _____ percent (%) of the residue of my estate [or ____________ and no/100 Dollars ($ _____)] to Doane University, a Nebraska nonprofit corporation, to create The John and Jane Smith Endowed Scholarship Fund, an endowed fund, the net income of which provides scholarship support to Doane University students.

Learn More

Planned giving makes supporting Doane University easy. The appropriate language in your estate plan directs Doane to honor your wishes to support Doane University students in perpetuity.

Giving back through your estate is just one way to make a difference in the life of a student. Visit the Doane University Office of Planned Giving online for more information on ways to give back.

Contact Thom Reeves at 402.826.8284 or thomas.reeves@doane.edu to discuss your legacy at Doane University.

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A charitable bequest is one or two sentences in your will or living trust that leave to Doane 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 _____ percent (%) of the residue of my estate [or ____________ and no/100 Dollars ($ _____)] to Doane College, a Nebraska nonprofit corporation for its unrestricted use and purpose (or choose from one of the following). Choose from the following: 1. This gift shall be used for the benefit of ___________________. (e.g. a specific program area at one of Doane College's campuses.) 2. This gift shall be used for the creation of an endowed scholarship. 

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 Doane University 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 Doane University 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 Doane University 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 Doane University where you agree to make a gift to Doane University 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.

Personal Estate Planning Kit Request Form

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