Yates Legacy Society

Yates Legacy SocietyMost people are familiar with the poem "The Bridge Builder." This timeless poem tells the story of a man who builds a bridge, not for himself, but for generations to come. Sigma Nu is fortunate to have had such a builder in William P. "Bud" Yates (Beta Rho/Pennsylvania), who made a bequest to Sigma Nu in 1945. Brother Yates left three-quarters of his estate to Sigma Nu, resulting in the formation of the Sigma Nu Educational Foundation, Inc. To salute Brother Yates for his vision and generosity, the Yates Legacy Society was established in 2000.

The Yates Legacy Society includes those individuals who have designated the Sigma Nu Educational Foundation in their estate plans. This can be accomplished through bequests, life insurance, trusts, or any other documented planned gift arrangement. In a short period of time, the affinity shown for the Yates Legacy Society has been phenomenal. To date, over 100 Brothers and/or their spouses have realized the tremendous benefits of making a planned gift to the Sigma Nu Educational Foundation. With effective gift planning, you can:

  • Increase your current and future income (with ranges of 5%-12%, a portion of which may be tax-free)
  • Reduce or eliminate capital gains taxes for gifts of appreciated assets
  • Reduce current income taxes
  • Reduce estate taxes; and, o Create a legacy for your family and Sigma Nu.

If you want to have a tremendous impact on the well being of Sigma Nu, while helping to provide for the development of ethical leaders, then, you should join the Yates Legacy Society.

The Foundation staff can help you determine the gift plan that will best fit your particular financial needs and your philanthropic intentions. Whichever gift option you choose, you can be certain your support will be gratefully received and will make a tangible and indelible difference in the lives of future Sigma Nu generations.

The Yates Legacy Society Members

Margaret C. Davis
Mary Gorman
Amanda Koerth
William B. Oakley
Durelle C. Lane
William K. Stoffer
Daniel Rodriguez
Robert N. (Bob) Maddox
Evelyn C. (Mrs. John F.) Steen
Robert A. Gingras
Charles H. Weyhenmeyer, Jr.
Howard H. and Margaret A. Braverman
W. Selden Steiger
John D. Davies
Walter T. Smith
James H. Reiman
James A. Owens
Gerald J. J. Starika
William S. Smith
James D. McCracken
Michael D. Long
Robert L. Marchman, III
James D. and Teresa M. Wright
Don K. Martin
James C. Cherry
E. G. White
Herman B. Wells
Craig H. Haesemeyer
David C. Underwood
Richard W. and Ann T. Dodderidge
Scott L. Dingle
Austin S. and Tina O. Landry
Lomax Napper
Maurice E. Littlefield
Richard W. Averill
Robert A. Webster, Jr.
James E. Miles
Michael D. Osterhout
Charles L. Short
Edward M. Roberts
Joseph A. Weber, Jr.
Samuel E. Williams
J. Paul Scheetz
Joseph M. Gilman
Randall L. Ward
William W. Palmer
Gavin R. Larrimer
Raymond W. Klink
Charles Mavity
Douglas A. Benson
Wayne H. Gillis
Arthur B. Chitty, Jr.
Bruce A. Roullard
Thomas R. Panko
Fred R. Wittnebert
Don C. Fancher
Lee A. and Reba Goins Absher
Irvin K. and Frances G. Garrett
Gerald R. Sherratt
Arthur B. Rupert
E. Thomas Eggert, II
Oliver G. Ludwig
Richard M. Marcks
David W. Stockmeier
Joseph G. Cutler
Brent C. Sobol
Willis W. Stevenson
George E. Holy
Christopher W. Graham

A charitable bequest is one or two sentences in your will or living trust that leave to Sigma Nu Educational Foundation 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

Bequest Language

"I give, devise and bequeath (the sum of/percentage of/residue of my estate) to the Sigma Nu Educational Foundation, Inc., a not-for-profit corporation with principal offices in Lexington, Virginia, to be utilized for the general benefits of the Sigma Nu Foundation, Inc. (for specified program of the Foundation)."

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 Sigma Nu 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 Sigma Nu 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 Sigma Nu 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 Sigma Nu where you agree to make a gift to Sigma Nu 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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