April 27, 2001

Legacy Estate Commitments
To WKU Announced

Bowling Green, Ky. - Western Kentucky University today announced two new deferred commitments to the University, which will be funded through the donors' estate plans.

First, WKU recently received a $500,000 commitment from Dr. Walter Scott to establish the "Scott Professorship in Biology." The gift will be funded through a bequest in Dr. Scott's estate plan.

Scott, a 1956 WKU graduate, is a physician and professor of biology at New York University in New York. "My gift to Western is simply a payback for what it gave me," he said. "I came there as an old country boy to get trained for medical school, and I was able to finish my training in three years. I owe a great deal to many people at Western."

According to Tom Hiles, vice president for Development and Alumni Relations, a gift through an estate plan is an excellent way to make a major commitment to the University. "A donor may stipulate that a certain percentage of his estate, a certain dollar amount, or particular securities or other assets be given to Western," he said.

Hiles said this gift marks the 17th endowed faculty position that has been established at Western since the beginning of the "Investing in the Spirit" Campaign. "Endowed faculty positions are one of the highest priorities outlined for the Campaign," he said. "This gift will move us toward our five-year goal of 25 new positions."

"We are very grateful that Dr. Scott has made this generous leadership commitment," Hiles added. "It will be a lasting legacy to his life and his outstanding professional career."

Hiles also announced a more than $400,000 commitment from Dr. Robert M. Schneider, and his wife, Virginia Schneider. The Schneiders have designated Western as the secondary beneficiary of their 403B retirement plans. Dr. Schneider served as a faculty member in WKU's Agriculture Department for 19 years, and Mrs. Schneider received her Ed.S degree at WKU and taught for 19 years in the Bowling Green City Schools.

"The money we have designated to Western was accumulated while we were both employed by the state of Kentucky," Dr. Schneider said. "As we looked at various options in our estate planning, we were advised that this portion of our estate might best be used for charity." Dr. Schneider said designating the proceeds from these plans to WKU will greatly reduce the tax that would otherwise be charged to his estate.

In honor of their careers, the Schneiders have designated their funds to WKU's College of Education and Agriculture Department.

"I had a good experience at Western," Dr. Schneider said. "I very strongly feel that education is the upward mobility vehicle for many people. In this particular area, education has not received the priority it should."

According to Hiles, many people are unaware of the benefits of designating WKU as the beneficiary of their retirement plan assets. "As Dr. Schneider outlined, this can often greatly reduce or eliminate the tax that would be placed upon the donor's estate," he said. "We are very grateful that the Schneiders have chosen to make this leadership commitment to Western."

Dr. Blaine Ferrell, associate dean of the Ogden College of Science, Technology and Health, says his college is deeply grateful for the commitments made to the sciences. "The donors do not know how much it means to have someone believe in the unit enough to support it," he said. "Endowed professorships and general support funds help improve faculty morale, and they allow us to continue to recruit quality faculty and students to our programs."

Karen Adams, dean of the College of Educational and Behavioral Sciences, agreed. "We are very appreciative of this generous gift," she said. "The donor has ensured that a portion of his life savings will continue to work for him in the years to come."

"The College of Education and Behavioral Sciences has a strong commitment to providing programs that are field-based and provide professional development for teachers already in the school system," she said. "Gifts like these allow us to continue to support innovative methods of teacher preparation."

For more information, contact Tom Hiles at (270) 745-6208. More WKU news is available on the World Wide Web at www.wku.edu. If you'd like to receive WKU news via E-mail, send a message to WKUNews@wku.edu.