The Farleys Say "I will for Washburn"
Susan and Jerry Farley
In 25 years, there is very little Jerry and Susan Farley have not done for Washburn. They have been historic leaders and integral members of the community in basically every way a person could be. Dr. Farley, of course, happens to be president of the University, but even beyond his job title, they go to nearly every event, cheer at the games, make annual gifts, listen to faculty, encourage students and trumpet Washburn as its most visible champions. They really do just about everything.
But a few years ago, they realized there was something they had forgotten to do.
"We hadn't updated our wills for quite a long time," Dr. Farley admitted. "And then after we'd been here a long while, we woke up and realized, 'Gosh, we need to do that.'"
It's an easy thing to overlook. Most people – even university presidents – don't spend a great deal of time thinking in terms of what they leave behind. And even when they do, there are a lot of considerations – family, church or charities and other priorities. But when the Farleys started going through the exercise, they realized it was an opportunity to keep doing what they do – be there for Washburn.
"You start thinking about what's important to you," Susan said. "And for us, we've been in education our entire lives. Our own educations have made such a difference for us and all we've wanted is for other people to have that positive change in their own lives."
They realized they wanted to carry that on not just as part of Dr. Farley's legacy as president, but as their legacy, simply as two people who love Washburn.
They met with the Washburn University Alumni Association and Foundation, then their attorney to put Washburn in their wills and decided where they wanted to direct a portion of their estate to benefit students in the future.
"For 150 years, legacy gifts have helped make Washburn what it is," Dr. Farley noted. "Universities are quite literally built on people who said, 'I'd like to leave something to Washburn.'"
"All the way back to Ichabod Washburn," Susan added.
"We want people to have the same epiphany we did," Dr. Farley said. "You don't have to be a millionaire; this isn't something that's hard to do. It can be just a couple of lines when you're doing your will anyway. But in the end, I suspect for a lot of people their lives were built at least in part on their Washburn experience, just like ours have been. And this is an easy, simple thing to do to pay that forward."
To help others have that same realization and take that same step, two sets of donors – Greg, bba '88 and Jaena, ba '89, Greenwood and Bruce and Theresa McPherson – have given everybody an extra incentive to join the Farleys and say, "I Will for Washburn."
The next 100 people who put Washburn in their wills and inform the foundation will receive $10,000 that they can direct to any area of Washburn.
The Greenwoods and McPhersons have donated a $1 million fund and anyone who documents Washburn in their estate plans will be able to take $10,000 out of the fund. The money can be used to put toward any Washburn program or fund they wish – any school, college, or department; any athletic, music, or art program; a scholarship, a campus renovation or academic project. Anywhere. It's a once-in-a-lifetime opportunity to not only benefit Washburn in the future but to have a direct impact on students today. This kind of legacy challenge has never happened at Washburn and the Farleys hope it will inspire others.
"One hundred new people putting Washburn in their wills or estate plans would be transformative for the future of this University," Dr. Farley noted. "And when you combine that with being able to have a $10,000 impact now…it's very exciting to think about. If you were ever considering putting Washburn in your will, there will never be a better time than right now."
As it pertains to their own legacies, Susan's hope is simple. "I just want us to be remembered as people who were there for Washburn."
The Farleys have always been ones to raise their hands and say, "I Will for Washburn." Visit wualumni.org/IWillForwashburn to join them.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.