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Planned Giving

Maximizing Impact: William Weber '39

Donor William Weber

Maximizing Impact: William Weber '39

The dining hall was in the basement of Trowbridge, where student waiters served their fellow classmates, and Washington's Birthday banquet was the big social event of the year. Bill shared these memories with Jim Van Sweden, Director of College Communication, in a 2009 interview. The differences between then and now may bring a smile to the face, but Bill's K education remained relevant throughout his lifetime.

When Bill began to think about how he wanted to support Kalamazoo College, he knew he wanted to find a way to impact multiple students. Though he majored in physics, he chose to support the social sciences.

 

Donor William Weber

Bill meets with Justin Brooks, the 2010 Weber Lecturer, law professor at California Western School of Law, and Director of the California Innocence Project, a law school clinical program dedicated to exonerating wrongfully convicted people and teaching students to become excellent lawyers.

 

"K is a liberal arts college," Bill said, seeing the importance of exposing students to different fields and recognizing how that same process influenced him personally. "I want to promote discussion about the government and the applications of practical politics."

Sadly, Bill passed away in June 2012. Through several gifts in his lifetime and through his estate, Bill established the Weber Professorship in Social Sciences at Kalamazoo College. By supporting a growing area of personal interest, Bill found his gift could also assist the College in a way that would benefit students for generations to come.

"Politics so deeply influence nearly all aspects of our lives and fortunes, public and private," Bill asserted.

The intentions of his initial commitment are being realized through the endowment of the Weber Professorship by the remainder of his estate. Another fund that he formed through his giving - the William Weber Lectures in Government and Society - brings to campus nationally known scholars in the social sciences, from varying political leanings and backgrounds, to ignite a dialogue and foster critical thinking within the College community.

Each year, Bill returned to campus from his home in Tacoma, Wash., to attend the lecture and to be part of the energy it created. His example of engaged citizenry will be amplified throughout future generations because of his generosity.

 
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A charitable bequest is one or two sentences in your will or living trust that leave to Kalamazoo College 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, [name], of [city, state, ZIP], give, devise and bequeath to Kalamazoo College [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 K 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 gift 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 receive an immediate federal income tax charitable deduction. 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 K as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 K 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 K where you agree to make a gift to K 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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