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KSU Foundation

Scholarship honors Lee and Wanda Parr's lifelong love of K-State

Lee and Wanda Parr

Lee and Wanda Parr

When the Parr family sold their parents' farm in Delia, Kansas, Jane and KelLee Parr wanted to make a gift that honored their parents' legacy.

When reflecting on their parents' love for Kansas State University and strong belief in education, the answer was apparent.

They used proceeds of the sale to create the Lee and Wanda Parr Memorial Scholarship, helping K-State students complete a degree in any discipline. By adding further support through bequests in their wills, the siblings will ensure that the scholarship continues beyond their lifetimes.

"I really hope we can help other students who don't have the resources we had when we were in school," KelLee Parr said. "My folks were not wealthy, but Dad made sure we had what we needed, and he was adamant that we go to school."

A focus on education
Jane Parr recalled how strongly her mother and father emphasized education for herself and her sister, as well as her brother.

"They always stated, ‘when you go to college'— never, ‘if you go to college,'" she said.

"Dad thought it was even more important for his daughters to get an education. If they ever became sole support for their family, the financial opportunities would be greater with a degree. He urged all his friends to support their daughters as well as their sons to get a college education."

All three Parr children graduated from K-State, and their earliest memories include listening to K-State sports on WIBW radio in their family sunroom. Today, they enjoy reuniting with each other and old friends at K-State sporting events.

"The leadership at the university is tremendous," KelLee Parr said. "I think everybody is so proud of the growth. It's fun to be a part of that and be able to contribute."

Make a difference
To learn how you can honor loved ones through a legacy gift in your estate plan, contact the Gift Planning team at 785-532-6266 or

eBrochure Request Form

Please provide the following information to view the brochure.

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 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 K-State 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 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.