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Planned Giving

Heritage Society

The George Lynn Cross Heritage Society honors and recognizes donors who, through their estate plans, include a gift that will benefit the University of Oklahoma for generations to come. These thoughtful and well-planned gifts take many forms, such as bequests, charitable remainder trusts or life insurance. All planned gifts strengthen the future of the University of Oklahoma, while creating an enduring legacy for donors

Through a planned or deferred gift, donors can reach across the generations to touch the future of the University of Oklahoma and its students. A donor may make his or her gift unrestricted so that it can be used in an area where it is needed most, or may designate the gift to benefit a favorite college, department, academic or athletic program. Planned gifts are as unique as each individual who makes one and may be tailored in a way that best serves the donor's needs, objectives, and wishes as well as those of the University of Oklahoma. Among planned gift options are:

BEQUESTS

Many donors choose to make a planned gift through a will or living trust, which enables you to retain your assets during your lifetime, while helping OU in the future. Bequests can be a specific dollar amount, a percentage of your estate, or the balance of your estate after providing for your family or other loved ones.

A bequest removes those assets from your estate and reduces estate tax liability. So that you may be properly acknowledged as a member of the George Lynn Cross Heritage Society, each donor is asked to provide the University of Oklahoma Foundation, Inc. with a copy of the relevant portion of his or her will or living trust.

CHARITABLE REMAINDER TRUSTS

The charitable remainder unitrust and the charitable remainder annuity trust are two life income planned gift options that allow you to make a gift to the University of Oklahoma Foundation, Inc., and receive income back annually from that gift for you or a designee for the rest of your life or for a set number of years while also receiving a current income tax deduction for the gift.

A charitable remainder trust is established when the donor irrevocably transfers cash, securities, or real estate to fund the trust. With the transfer of appreciated securities or real estate, the donor not only receives the charitable gift deduction, but also avoids capital gains tax. Upon the termination of the trust, the remaining principal in the trust is directed to the University.

LIFE INSURANCE

A gift of life insurance can be a very affordable and flexible planned giving method to make a significant gift. By purchasing a life insurance policy naming the OU Foundation, Inc. as the owner and beneficiary, you can receive a charitable gift deduction for each premium payment. A paid up life insurance policy that may no longer be needed can also be contributed, allowing a donor to receive a charitable gift deduction approximately equal to the cash surrender value of the policy.

RETAINED LIFE ESTATE

A gift of your home or farm can be made without giving up the use of your property during your lifetime. You may also provide for your spouse or other loved one to live there upon your death. You can obtain a charitable income tax deduction based on the value of the property and your age. Property taxes and insurance remain the donor's responsibility.

ADDITIONAL INFORMATION

If you would like to know more about making a planned gift to the University of Oklahoma and becoming a member of the George Lynn Cross Heritage Society, please contact one of the following development professionals.

At the College of Engineering

Jill Quintana Hughes, Executive Director of Development
405/325-5217

Tricia Tramel, Director of Annual Giving
405/325-4211

Brandon Brooks, Development Officer
405/325-6971

At The University of Oklahoma

Paul D. Massad, Senior Associate Vice President
405/325-3701

At The University of Oklahoma Foundation, Inc.

Guy L. Patton, President
866/321-1174 Toll Free or 405/321-1174

GEORGE LYNN CROSS

George Lynn Cross was the University of Oklahoma's beloved and revered seventh president and, in many ways, the architect of OU's transition from a college to a great, comprehensive university.

Dr. Cross joined the University of Oklahoma as an assistant professor of botany in 1934, and rose rapidly through the ranks of academic administration. In 1943, he was named acting president of OU. Eight months later, he began the longest tenure of any president in the University of Oklahoma's history, serving until 1968.

Dr. Cross presided over a period of extraordinary growth and initiated many changes that have had a long-lasting impact upon OU. Among his many contributions was the establishment of the University of Oklahoma Foundation, Inc. to serve as the guardian of private gifts. Dr. Cross and Cleo, his wife of 71 years, invested their lives in the University of Oklahoma and its students. His example led many of those students to invest their own lives in causes greater than themselves.

George Lynn Cross died on New Year's Eve 1998 at the age of 93. No single person has left a more notable legacy to OU, so it is especially fitting that the new George Lynn Cross Heritage Society carries his name. A legacy is what each member of the Heritage Society is creating through their gifts that will bear fruit for many years in the future.