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KSU Foundation

Former football star uses life insurance to instill leadership in the next generation

Kevin Lockett

Kevin Lockett '96 found life insurance to be a smart way to balance personal financial priorities with philanthropic desires.

When Kevin and Cheryl Lockett started the Lock-ett Up Foundation in Tulsa, Oklahoma, they wanted to emphasize youth literacy.

"We thought if kids are behind in their reading level, they will always be playing catch-up and that will always impact them," said Kevin, a former All-American wide receiver at K-State who went on to a career in the National Football League.

Upon reflecting on his K-State experience, the 1996 College of Business Administration graduate realized leadership skills were also critical and made a tremendous impact on his life during and after college.

Through a life insurance policy, the Locketts established the Lock-ett Up Foundation Excellence in Leadership fund to support the rapidly growing Staley School of Leadership Studies. The $250,000 insurance commitment will also eventually benefit the Lockett Family Football Scholarship.

As parents of four, ranging in age from 5 to 21, the Locketts saw the insurance policy as a viable way to balance personal financial priorities with philanthropic desires.

"I hope we will begin to see alumni in the younger age ranges understand that they can make significant gifts through deferred giving," Kevin said. "Giving a quarter million dollar gift is not as expensive as you might think it would be, if you meet with the development staff at the Foundation and talk about the different options. It feels good to support the future of the university because I know previous generations provided support that was of great benefit to me during my time at Kansas State."

How can you help?
To learn how you can balance your financial priorities with philanthropic wishes, please contact the Gift Planning team at 785-532-6266 or

eBrochure Request Form

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A charitable bequest is one or two sentences in your will or living trust that leave to the KSU Foundation 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 the KSU Foundation, a nonprofit corporation currently located at Manhattan, KS, 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 K-State 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 K-State 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 K-State 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 K-State where you agree to make a gift to K-State 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.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.