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Curley Bonds' Bequest Provides Need-Based Scholarships for Students

Curley Bonds

Curley Bonds 87C

A psychiatrist with a California nonprofit mental health organization, Curley Bonds 87C embraced the Emory charge to do well and to do good.

"At Emory, I learned about figuring out who you are as a person and what your contribution to the world will be," he says. Bonds was able to attend Emory only because he qualified for merit scholarships. He appreciates the support he received to help him achieve his dreams. In return, he has made a bequest to support deserving students for whom an Emory education might not be possible otherwise.

"I felt very fortunate to be getting a world-class education, and I want to give back at least as much as I took away. I feel like there are a lot of smart, deserving students who should have that opportunity as well," he says.

Coming to Emory from his hometown of Mobile, Alabama, Bonds was impressed by the variety of people he met from different cultural and geographic backgrounds. A Martin Luther King Jr. scholar at Emory, Bonds feels he was fortunate to have earned a merit scholarship, something that is difficult in the highly competitive world of college admission.

In his practice, Bonds hired an Emory alumna who was able to attend Rollins School of Public Health for her graduate degree because of scholarship support.

"She came from a single-parent home and would not have been able to go back without that assistance," he says. "I realize not everyone qualifies for merit-based scholarships. If there were more need-based scholarships, more students would benefit. That is where my gift is going."

An emeritus member and past president of the Emory College Alumni Board, Bonds also contributes his personal and professional expertise to his alma mater.

"Being involved gives you insight on the university and the value of unrestricted contributions. These gifts really help pay for some of the things that very directed giving misses. Unrestricted giving directly supports students and faculty," he says.

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A charitable bequest is one or two sentences in your will or living trust that leave to Emory University 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 Emory University [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 Emory 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 Emory 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 Emory 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 Emory where you agree to make a gift to Emory 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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