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KSU Foundation

Looking out for K-State's future

Tim and Lisa Oswalt commit to helping K-Staters they may never meet

Tim Oswalt

Tim Oswalt

When Tim Oswalt travels for work, it often involves long flights, international datelines, national policy and the Urdu language. As the naval attaché to Pakistan, he is a long way from Kansas State University.

The K-State welcome he knew as a student, however, brings him back to Manhattan and makes him want to give in whatever way he can. Tim and Lisa Oswalt created the Oswalt Family Leadership Scholarship as a bequest in their will to advance opportunities for K-State juniors and seniors who demonstrate leadership while at the university. The first scholarship will be awarded for the fall 2018 semester.

"For me, this scholarship is a way to help other young leaders continue their personal development while allowing us to thank the K-State family for its impact on my life," Tim says.

Following his parents' leadership example, Tim was active in K-State's Student Government Association, student alumni board and his fraternity, while carving time to advocate for the new Hale library and ready himself to graduate in finance from the College of Business Administration. Though busy, his student life was not all work, and he speaks fondly of Wildcat football games and Friday night happy hour at Rusty's Last Chance in Aggieville.

"My family is purple — I mean really purple — four generations of purple," Tim says. "But my grandfather was not able to complete his studies at K-State, partly due to a lack of funds as he approached his junior year. Many scholarships are available for new students, but long-term or late-term scholarships are not as common."

Though his service takes him thousands of miles away from Wildcat land, Tim is inspired to live the Kansas values he learned at home and on campus, to "take care of my family and try to make a difference to folks I'll never meet."

Want to know how you can become a leadership partner with K-State and support students now and for generations to come? Visit us online or contact the Gift Planning team 785-532-6266 or giftoptions@ksufoundation.org.

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.