Vol. 20, No. 2 - Spring 2004

A celebration of giving

The ant and the grasshopper

We are all familiar with the tale of the ant and the grasshopper. The ant diligently prepared for winter by working hard and laying in a store of food, while the grasshopper hopped about playing and lived for the moment. Once winter came, the grasshopper realized the moral of the story: “It is best to prepare for the days of necessity.”

Another version of this famous fable might go as follows:

Alpha G. works hard her whole life and plans well by making sure she has a will. In addition to taking care of her family, her charitable bequests include the College of Education and Human Development. Harry W. spends much of his time after retirement worrying about his assets while avoiding thoughts about estate planning and his own mortality.

When Alpha passes away, her estate is distributed according to her wishes; through her will she has created an endowed scholarship fund—her legacy to future students. Unfortunately, Harry dies never having completed a will and his hard-earned estate goes to distant relatives he never even knew.

It is not difficult or expensive to write a will. It does require preparing for the “days of necessity.” That means thoughtful planning about what you really value: family, friends, and special organizations or institutions that have meant something to you during your lifetime.

If you have questions or would like more information on wills and bequests, please contact Lynn Slifer, development director, College of Education and Human Development, 612-625-5511, slife001@umn.edu.

The following is standard language you can provide to your lawyer if you wish to make a bequest to the college: “I give, devise and bequeath to the University of Minnesota Foundation, Minneapolis, Minnesota 55455, (percentage of residue, sum or description of property), the principal and income of which shall be distributed by the Board of Trustees to the College of Education and Human Development for the purpose of (fill in purpose).”

New scholarship honors spouse

When Bill Walter thought about what to get his wife Judy for her 60th birthday he thought of the University of Minnesota. Both he and Judy are graduates of the U, he from the Institute of Technology and the Carlson School of Management, and Judy from the College of Education and Human Development.

As a gift, Bill established an endowed scholarship fund in Judy’s name for students who are planning teaching careers in urban settings. Bill’s commitment is being leveraged by a match through a new program at the University, making matching funds available to all new endowed scholarship funds of $25,000 or more.

“Judy’s dedication to teaching and to setting high standards for students has been an inspiration,” Bill says. “The rewards for giving do come back to you hundredfold. It’s the right thing to do and it feels good.”

New gifts to the college

H. William Walter has established an endowed scholarship in honor of his wife, Judy, with a pledge of $150,000. This scholarship will support students who want to teach in urban settings.

Mary L. Topp has made a future commitment of $250,000 to support reading and language arts through the Department of Curriculum and Instruction.

Jeffrey and Mary Werbalowsky have made a gift of $35,000 to the Baby’s Space Fund.

Margaret Palm has made a future commitment to the college of $25,000.

The Buuck Family Foundation has made a gift of $10,000 to the Baby’s Space Fund.

The following gifts were given in support of the Arctic Transect Project: $75,000 from the Wood-Rill Foundation, and $50,000 from the Comer Science and Education Foundation.