September 17, 2002

Brites Create Scholarship Fund
At WKU

Bowling Green, Ky. - James W. Brite Sr. and his wife, Mary Carolyn Wolfe Brite, have made a provision in their estate plan to provide annual income to establish a scholarship fund at Western Kentucky University for students in nursing and in the Gordon Ford College of Business.

The gift is being funded through the creation of two charitable remainder unitrusts that will benefit Western and several different charities as well, according to H. Alexander Downing, president of the College Heights Foundation. The trust has a current value of about $50,000 in annual income.

"Mr. and Mrs. Brite have made wonderful contributions to improving the quality of life in the Bowling Green community," Downing said. "This generous estate gift is further evidence of their devotion to Bowling Green and to Western Kentucky University. They will create a permanent source of assistance and encouragement for Western students enrolled in the College of Business and in the Department of Nursing."

Mr. Brite, owner of Hartland Furniture in Bowling Green, said: "My wife and I wanted to provide opportunities for students choosing careers in nursing and business. We know that there will always be a need for nurses in our community, and we are pleased that we will be helping to fulfill that need in the future."

Gifts that provide income can be an excellent tool in retirement planning. These gifts allow donors to make a significant contribution to Western while receiving benefits such as:

• Income payments for the donor's life or the life of a spouse or others;
  
• The probable elimination of capital gains tax on appreciated property;
  
• An income tax deduction;
  
• The probable reduction of estate taxes and probate costs; and
  
• The personal fulfillment of directing a gift and supporting Western during the donor's lifetime.
  

To learn more about making a life income gift, contact the WKU Development Office at (270) 745-4494 or the College Heights Foundation at (270) 745-4597.

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.

-WKU-