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Gifts With a Ripple Effect

Barry Hardin

Barry Hardin

Although Barry Hardin is a man of few words, he ignites when asked about why he gives.

"Any success I may have gotten is in part to my experiences at the University and it seems only fair to give back. It's the right thing to do," Barry says.”

Indeed, giving may be in his DNA. Barry's aunt, Helen Hardin, established the Helen Hardin Honors College at the University of Memphis in 2008. As a board member of the Helen and Jabie Hardin Charitable Trust, Barry has continued his family's legacy by providing generous support to the UofM and many other organizations in the Memphis area.

Barry believes education is the key to resolving many of the issues facing our city. "The University of Memphis is vitally important to this area, to the City of Memphis and beyond," says Barry. He goes on to say he hopes all citizens of Memphis will reap the benefits of his support of the UofM.

To Barry, a college education not only changes the lives of students, but the lives of their family and the entire community. He wants to see as many students as possible take advantage of the opportunities the UofM offers.

Barry chose to designate his estate gift to both Athletics and the Memphis Fund. Athletic support enhances the UofM experience for our student athletes by providing scholarship support and funds to enhance athletic facilities. Gifts to the Memphis Fund support the University of Memphis with no restrictions, and the funds go to priority projects, where they are needed the most. These gifts support academic and special interest programs that provide high-quality educational experiences, expand research opportunities, provide need-based financial aid assistance and secure facility updates and enhancements to technological resources.

Barry offered a confession about one of his favorite past times. "One of the things I have done a few times in recent years is to simply go to the University and stroll around the campus. It is so uplifting to see such a diverse group of young people in pursuit of their dreams. You can't help but come away with a good feeling about the future of the City of Memphis," he says.

"It is comforting to know that my wealth will be put to good use after I'm gone, and benefiting the University of Memphis is certainly good," Barry says. "I would encourage other alumni to do the same."

Create Your University of Memphis Legacy

For more information on how you, like Barry Hardin, can make a gift in your will that will touch students in future generations, contact Dan H. Murrell, CFRE at 901-678-2732 or dan.murrell@memphis.edu.

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 University of Memphis 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 University of Memphis, a nonprofit corporation currently located at 635 Normal St. Memphis, TN 38152, 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 the University of Memphis 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 the University of Memphis 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 the University of Memphis 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 the University of Memphis where you agree to make a gift to the University of Memphis 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.