Leave a gift in your Will to UNSW Australia
Never Stand Still
Making an impact
We know the power of a
FIRST CLASS EDUCATION UNSW Australia today stretches well beyond its roots as a technology college. UNSW is a modern, innovative university with a strong and growing international reputation for its cutting edge research, excellence in teaching and our social impact. Our vision is to seize opportunities to keep improving the ways we educate our students. We strive to relentlessly perform higher quality research with a commitment to applying our work in ways that will have a positive impact on Australians’ and other people’s lives around the globe. UNSW is a place where talented people from all backgrounds can achieve their highest potential.
Bequests from our alumni, friends and supporters are vital for supporting this vision. Whatever you contribute, no matter how small or large, together, we will advance teaching, research and learning at UNSW Australia. These are “win-win” gifts as generous donors can continue to make a future impact by leaving a lasting legacy. When you notify us that UNSW has been remembered in your Will, I will invite you to join the Scientia Circle. This is a group of UNSW supporters who are trend-setters in my mind, showing foresight in knowing the importance of a good education for all generations. David Gonski AC Chancellor and Chair UNSW Foundation
YOU CAN MAKE A DIFFERENCE Leading universities around the world are attracting bequests that enable them to make a significant impact on society. UNSW is already seeing the impact that bequests can have on future generations through knowledge transfer, economic prosperity and global impact especially in developing countries.
Changing the world with new knowledge and research UNSW’s world-class research teams are addressing some major issues facing society including closing the gap in Indigenous health, and improving treatments while moving closer to finding cures for cancer and other diseases. Whatever faculty, school or program you choose and whatever the amount, your gift will contribute to ongoing research breakthroughs and improvements in the lives of everyday Australians.
Supporting students through scholarships Scholarships encourage and reward the most talented young people, regardless of their social or cultural background, to help them reach their full potential. Take for example Victor Lam. Victor had always felt that university may not be attainable. That changed when he became the inaugural recipient of the Ngoc Tram Nguyen Scholarship for a disadvantaged student from a non-selective, public secondary school in southwest Sydney. Victor now studies law at UNSW.
Creating an inspirational teaching, learning and research environment We are creating a greener, more vibrant campus that can respond to the diverse needs of rural, metropolitan and international students and staff. It will be a people-centred place irrespective of cultural background. With the University’s changing needs and priorities, there will always be facilities requiring an upgrade so that we can continue to improve the way we educate our students and conduct our research.
“If you decide to make a bequest to UNSW we recommend that you consult your legal advisor in the preparation of your Will. You will need to decide how you would like the University to invest your gift; for general purposes or a stated purpose. We are here to help tailor a bequest that reflects your wishes and ensures the legacy you envision can become a reality.� UNSW Foundation team Telephone: 02 9385 3202
How would you like the
UNIVERSITY TO INVEST YOUR GIFT? Gift for general purposes Your bequest can be for general purposes, allowing the University to fulfil its highest priorities at the time your bequest arrives. Offering this flexibility is extremely helpful where the University’s needs and priorities change over time.
Gift for a stated purpose Your bequest can be for a stated purpose, specifying what you want to benefit. You can direct your bequest to support any faculty, school or program that is a part of the University.
FOR EXAMPLE: ‘I give to the University of New South Wales (57 195 873 179) (the University) the sum of $XX or XX%, share, residue of my estate, which I direct to be paid free of all expenses and duties of whatever kind and I express the wish that: Use this option for general purpose such sum be used to support the University priorities; and OR
Suggested wording
Use this option for specific purpose (a) such sum be used to support [insert scholarship, prize, research] at the University of New South Wales (b) this be done in the name/memory of [insert your chosen name]
It is important that the wording for a bequest in your Will clearly expresses your wishes.
and I direct that the receipt from the University of New South Wales shall be sufficient discharge to my trustee.’
Frequently asked questions Q. Can the University act as an executor? A. The University will not act as an executor. Q. I have already made a Will so how do I include the University? A. You can modify your bequest gifts within your Will at any time. To modify your Will, you can either re-write the entire document, adding the University as a benefactor. The alternative is to prepare a codicil, a separate document, which amends, rather than replaces, your existing Will. Amendments made by a codicil may add or revoke small provisions or may completely change all of the gifts under your Will. Q. Do I need to let the University know that I have included it in my Will? A. It is your choice whether you tell the University about your gift. It is our preference however to know of your gift
so we can thank you. To demonstrate this gratitude, we like to have the opportunity to invite you to events and update you on the University’s activities that are of interest. When you do tell us about your intentions to give to the University, we can celebrate your generosity and invite you to join the Scientia Circle.
Q. What happens if the research or program that I choose to support comes to an end? A. This situation may arise if you choose to make a bequest for a stated purpose. We ask that a provision is included in the Will along the lines of: “If at any time the University determines that it is no longer possible or practical to carry out the stated purpose then the University may apply the bequest to a purpose that is the most closely aligned to the original one�.
Q. How do I make it clear about the amount of money I want to give in my bequest to UNSW? A. You can make a residual bequest which is simply a gift of whatever is left of your estate – or a percentage of it – after all other gifts, taxes and debts have been fulfilled. Alternatively, you may leave a percentage of your estate to UNSW (percentage bequest), a specific dollar amount (a specific bequest) or a gift of assets such as property, shares or other items of value (pecuniary bequest). Q. Are there any gifts that have taxation consequences? A. UNSW is a deductible gift recipient so does not attract taxation consideration for monetary donations. Non-cash assets given to the University can be very valuable but can be more complicated to administer than cash donations. If you are considering giving assets such as
properties, artwork or shares, we ask that you seek financial and legal advice on the taxation implications of such a gift.
Q. If I decide to support students through a scholarship, how do I know how long it will last? A. You will need to decide whether it is for a finite period (beneficial fund which is the lesser amount) or for perpetuity (endowed fund) and lasting indefinitely. Your decision will depend upon how much you have to donate and how much it costs the University to fund a student to study. Our advice is to contact the University when you are making a decision, to obtain the current costs. Remember though that your gifts are never too small because the University can invest your funds until the value of the invested funds reach a level that is sufficient to support a student.
About
UNSW AUSTRALIA At UNSW Australia we develop leaders who shape the future. We celebrate the diversity of backgrounds and cultures from which we attract students of the highest potential. We are proudly a university of our Asia-Pacific region and a peer of the best globally. Since 1949, UNSW has been a pace-setter, dedicated to making positive impact. The University never rested on its laurels which is embodied in our tagline, Never Stand Still.
“UNSW has contributed significantly to my own development and it feels like the right thing for me to give back. I have had the privilege of steering the Library through a period of massive change as UNSW Librarian. This has been very rewarding. I proudly acknowledge the University’s support for innovation which creates great research, student learning and teaching excellence. This must continue and by giving to the University in my Will, I know my contribution along with others, will ensure lasting benefits for future generations of students and staff at UNSW Australia.” Andrew Wells, UNSW Librarian
“I decided to leave a bequest to UNSW to honour my mother. I don’t have children, so what do I do with my money. Why not give back to encourage and support others? This just seems obvious to me.” Lynne Billard BSc ‘66
“It is important to support future generations and give back. If I have to leave a footprint on this earth then it will be at the University of New South Wales” Derek To BCom ’73
For further information: UNSW Foundation, The Chancellery Building Room G18 T 02 9385 3202 F 02 9385 0099 E bequests@unsw.edu.au W giving.unsw.edu.au CRICOS Provider No. 00098G