Planned Giving

Leaving a gift in your will to William Carey allows you leave money and provide flexibility to change your will when life circumstances change. 

How It Works

Meet John and Sue Smith. They created a will before children and included a $125,000 gift to Carey. As the family grew with children, the Smiths wanted to revise their will to include their children but still give to Carey. 

After meeting with an attorney, they revised the gift language to that Carey will receive a percentage of their estate, instead of a specific amount. The Smiths will now provide for their children and give to the university their families loves in a manner which leaves a legacy. This is often referred to as a "bequest." Follow below for sample bequest language.

Restricted as a percentage of the estate:

I give, devise, and bequeath to William Carey University, a not-for-profit organization located in Hattiesburg, Mississippi, _____ percent (%) of the rest, residue, and remainder of my estate to be used for __________________________________________ at William Carey University. If changed circumstances should at some future time make it impractical to continue using the income from the Fund for the purpose designated, then the William Carey University Board of Trustees may redesignate the purpose to adhere as closely as possible to my original intent.

Restricted as a percentage of the estate (endowment):

I give, devise, and bequeath to William Carey University, a not-for-profit organization located in Hattiesburg, Mississippi, _____ percent (%) of the rest, residue, and remainder of my estate to establish the ____________________ENDOWED FUND. The principal of this Fund shall be invested as part of William Carey University's permanent endowment and in accordance with its policies. The income therefrom is to be used by William Carey University, located in Hattiesburg, Mississippi for ____________________________________. Contributions may be added to the Fund at any time. If changed circumstances should at some future time make it impractical to continue using the income from the Fund for the purpose designated, then the William Carey University Board of Trustees may redesignate the purpose for which the Fund's income may be distributed, provided that the Fund shall continue to bear the name ________________ ENDOWED FUND, and that the amended terms shall adhere as closely as possible to my original intent.

Restricted as a specific dollar amount:

I give, devise, and bequeath to William Carey University, a not-for-profit organization located in Hattiesburg, Mississippi, the sum of $_______ in cash or in-kind (or ________ shares of ________stock) to be used for __________________________________________ at William Carey University. If changed circumstances should at some future time make it impractical to continue using the income from the Fund for the purpose designated, then the William Carey University Board of Trustees may redesignate the purpose to adhere as closely as possible to my original intent.

Restricted as a specific dollar amount (endowment):

I give, devise, and bequeath to William Carey University, a not-for-profit organization located in Hattiesburg, Mississippi, the sum of $_______ in cash or in-kind (or ________ shares of ________stock) to establish the ____________________ENDOWED FUND. The principal of this Fund shall be invested as part of William Carey University's permanent endowment and in accordance with its policies. The income therefrom is to be used by William Carey University, located in Hattiesburg, Mississippi, for____________________________________. Contributions may be added to the Fund at any time. If changed circumstances should at some future time make it impractical to continue using the income from the Fund for the purpose designated, then the William Carey University Board of Trustees may redesignate the purpose for which the Fund's income may be distributed, provided that the Fund shall continue to bear the name ________________ ENDOWED FUND, and that the amended terms shall adhere as closely as possible to my original intent.

Unrestricted as a percentage of the estate:

I give, devise, and bequeath to the William Carey University, a not-for-profit organization located in Hattiesburg, Mississippi, _____ percent (%) of the rest, residue, and remainder of my estate as an unrestricted gift to be used at the discretion of the William Carey University Board of Trustees, for the general purposes of the William Carey University, located in Hattiesburg, Mississippi.

Unrestricted as a specific dollar amount:

I give, devise, and bequeath to William Carey University, a not-for-profit organization located in Hattiesburg, Mississippi, the sum of $_______ in cash or in-kind (or ________ shares of ________stock) to be used at the discretion of the William Carey University Board of Trustees for the general purposes of William Carey University.

Many donors may prefer to leave a gift to William Carey University through a beneficiary designation by using: 

• Life insurance policies
• IRAs and retirement plans
• Commercial annuities

You are able to make this type of gift through three easy steps:

1. Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
2. Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you chose, on the beneficiary form.
3. Return the completed form to your plan administrator, insurance company, bank or financial institution.

There's a way for you to support the mission of Carey and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity. 

A charitable gift annuity involves a simple contract between you and Carey where you agree to make a gift to Carey 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.

This type of donation can provide you with regular payments and allow us to further our work. You can also qualify for a variety of tax benefits depending on how you fund your gift.

If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize. In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.

And now, you can fund your gift using your IRA assets. If you are 70½ and older, you can make a one-time election of up to $54,000 to fund a gift annuity. While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer and count toward all or part of your required minimum distributions.

If you have built a sizable estate and also are looking for ways to receive reliable payments, consider a charitable remainder trust. At the end of the trust term, the balance in the trust goes to the William Carey University.

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.

These types of gifts may offer you tax benefits and the option for income. There are two ways to receive payments and each has its own benefits:

The annuity trust pays you, each year, the same dollar amount you choose at the start. Your payments stay the same, regardless of fluctuations in trust investments.

The unitrust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. The amount of your payments is redetermined annually. If the value of the trust increases, so do your payments. If the value decreases, however, so will your payments.