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Alumni Couple's Philanthropy Strategy Includes Planned Gift

The Fermans

The Fermans met at Emory and for 50 years have given back.

Longevity is synonymous with the Ferman brand in Tampa, where the Ferman Motor Car Company is the oldest continually operated family dealership in the United States, dating to 1895. CEO and President James L. Ferman Jr. 65B, grandson of the company founder, followed his father’s footsteps to Emory. As an undergraduate, Jim Ferman met his wife, Cecelia Davis Ferman 65C.

The Fermans take a long view of service and philanthropy as well. Their planned gift to Emory reflects their holistic strategy of supporting an institution that shaped them personally and instilled knowledge that has helped them achieve business success. For decades, the Fermans’ deepest connection to Emory came from their friendship with former Emory Dean of Campus Life William H. “Bill” Fox Jr. and his wife Carol Lewis Fox.

“Balance is important to us,” Jim Ferman says. “Our relationship with Emory has been very close and we have a lot of good memories associated with Emory. We believe that if you’re going to support an institution, you ought to do it through annual giving, capital gifts during a campaign and by providing sustaining resources through an estate gift. Our planned gift is a balanced way to continue our support for Emory.”

The university recognized the Fermans’ consistent and generous service with the 1999 Emory Medal, the university’s highest award. The Fermans have been significant supporters of Emory College, where they fund the Cecelia Ferman Endowed Scholarship, and the Goizueta School of Business.

Jim Ferman currently serves on the Emory Board of Trustees and provides similar leadership in his home state as a fourth-generation resident of Tampa. By serving on—and sometimes chairing—the boards of University of Tampa, Florida Southern College, and Emory, he has about 90 years of experience as a college trustee.

“I’ve absorbed the mission of philanthropy in higher education,” he says. “From this broad education, I know that part of the mission is fulfilled through planned giving.”

Making your legacy gift to Emory is easier than you think. Contact Emory Office of Gift Planning at 404.727.8875 or giftplanning@emory.edu. For online resources, go to giftplanning.emory.edu.

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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 give to Emory University, a nonprofit corporation currently located at Atlanta, GA, 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 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 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 Emory 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 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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