Leaving a Legacy

In life, Dorothy (Lockwood) Anderson was a model of all that Fredonia can be. She made the most of her time on campus, then took the lessons she learned as a student and used them to earn personal fulfillment while delivering joy to countless others in the western New York community.

Before Mrs. Anderson passed away, she made provisions that ensured new generations of young learners would be given the opportunity to enjoy the type of educational experience that had made her own life so special.

A native of Ripley, N.Y., Mrs. Anderson was born in 1905 and graduated from the Fredonia Normal School—the institution that would grow into what is now Fredonia—in 1927. As an undergraduate, Mrs. Anderson honed her appreciation of the arts and actively participated in musical and theater productions. She also showed her skill as a composer, penning both the music and lyrics to the Class of 1927 Marching Song.

When she completed her collegiate career, Mrs. Anderson taught music in Elmira Heights, Hamburg and Arcade. She continued to hone her talents as a pianist and maintained a lifelong appreciation of classical music. Mrs. Anderson was a member of the Buffalo Philharmonic Orchestra Ladies Auxiliary, often volunteering to serve as an accompanist for children's concerts. She also successfully helped, along with her husband to establish the Yorkshire-Delevan Library.

Fredonia administrators were saddened when news of Mrs. Anderson's death reached campus, but were touched to find that she never forgot the importance of her days at "Old Main." Mrs. Anderson bequeathed $500,000 to her alma mater—one of the largest gifts in school history. These funds will be used to establish the Dorothy Anderson Endowment and will help new generations of students receive the same benefits she enjoyed as a Fredonia student.

Planned giving offers an excellent opportunity to make certain that your own connection to Fredonia lives on. Please consider an estate gift in any amount today. If you do decide to leave a gift to Fredonia in your will, we ask that you let us know— because our one regret in the case of Mrs. Anderson is that we never had the chance to thank her personally for her incredible generosity.

A charitable bequest is one or two sentences in your will or living trust that leave to Fredonia College 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

"I give to Fredonia College Foundation, a nonprofit corporation currently located at Fredonia, NY, or its successor thereto, ______________* [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 Fredonia 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 Fredonia 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 Fredonia 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 Fredonia where you agree to make a gift to Fredonia 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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eBrochure Request Form

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