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Planned Giving

Inspiring Leadership

Wesley Hubbard

Wesley “Bud” Hubbard helped people get where they wanted to go. Traffic was a serious problem in 1950s-era Santa Clara County. Farmland was giving way to industrial complexes and a growing workforce was sitting tailfin-to-bumper in Chevy Bel Airs in the congestion of burgeoning city streets. In 1957, civic leaders in Palo Alto proposed a partial solution: converting two-lane Oregon Avenue into a four-lane highway—an undertaking that would cost 107 residents their homes.

Residents were not pleased, but thanks in large part to Hubbard, ’34 Political Science, a compromise was reached that resulted in what is today Oregon Expressway. According to From the Ground Up: Building Silicon Valley (Steinberg, 2002), Santa Clara County Supervisor Bud Hubbard “could have bowed to the wishes of friends who lived on Oregon Avenue. Instead, he pursued what he thought was best for the long-term health of the community.”

This dedication to leadership was the hallmark of Hubbard’s dynamic and purposeful life. As a two-year captain of the San José State football team, Hubbard led the squad in the first home game ever in Spartan Stadium in 1933. (They beat San Francisco State 44–6!). After a year playing on the defensive line for the Brooklyn Dodgers NFL team, Hubbard returned to San José to marry his college sweetheart, Beatrice “Bea” Cilker. For the next 43 years, they served their community through civic leadership and volunteerism, while operating a successful lumber business and raising five children.

Shortly after his passing in 1981, the family established the Wesley L. “Bud” Hubbard Memorial Scholarship for outstanding political science majors interested in a career in local government. Over 26 years, Cilker attended many of the annual scholarship ceremonies to watch nearly 40 students receive the award and go forth to walk in her husband’s footsteps as public servants—ensuring that Bud Hubbard’s legacy rolls on.

The Wesley “Bud” Hubbard Scholarship is presented by faculty members of the College of Social Sciences to political science majors with demonstrated leadership potential and a commitment to taking an active role in the community, especially those planning careers in San José or Santa Clara County government. Past recipients have become lawyers, political strategists, political science professors, policy writers, field representatives for politicians and more.

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A charitable bequest is one or two sentences in your will or living trust that leave to San Jose State 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 San Jose State, a nonprofit corporation currently located at San Jose, CA, 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 SJSU 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 SJSU 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 SJSU 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 SJSU where you agree to make a gift to SJSU 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.

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