Helping Students Achieve the Dream of Education

When Krikor Ermonian '52 established a scholarship fund more than 25 years ago in honor of his parents, Simon and Satenig Ermonian, he sought to ensure that students studying in the College of Engineering were able to finish their degrees.

He also had a passion for history, so he chose to include students with a similar passion in the department of history in the College of Humanities and Fine Arts. Over the years, hundreds of students have benefitted from Krikor's gift.

Now, Krikor has elected to make a bequest to UMass Amherst for this same scholarship fund. His generous bequest will help many more students realize their academic dreams while also fulfilling his desire to help students and honoring his core values in perpetuity.

A beneficiary of the GI Bill, Krikor received his degree in civil and environmental engineering. He was a career civil engineer with the Army Corps of Engineers, retiring after nearly 30 years of designing critical flood control structures throughout New England.

Though he is more than 90 years old, Krikor's strong Armenian family roots and appetite for history endure — and UMass Amherst is grateful to be the beneficiary of his passions.

Not all those who include UMass Amherst in their estate plans wish to share their identities. Still, their gifts are greatly appreciated and we thank them for their generosity. For instance, a recent bequest to the College of Humanities and Fine Arts will remain anonymous until it is realized. An alumna of the English department and her husband created a bequest that will be used to establish an endowed scholarship fund. The award will be based on merit and need and will be awarded to students entering their sophomore year and will fund them until they graduate.

Bequests used to establish scholarship funds are one of the most popular and significant ways our donors honor our mission and their desire to make a meaningful and lasting difference in the life of a student. Particularly as support for higher education from the Commonwealth continues to decline, sustaining scholarship awards fulfill a growing need.

We gratefully acknowledge these alumni who have chosen to support outstanding students who are trying to finance an increasingly costly college education. The memory of their time at UMass Amherst inspired these donors to help provide our students with the same opportunity they had a generation or two ago.

And they've crafted their wishes in ways that are personally meaningful. We're pleased to honor their extraordinary foresight and grateful to be a part of their legacy.

A charitable bequest is one or two sentences in your will or living trust that leave to the University of Massachusetts Amherst 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 designate _________________ to the University of Massachusetts Amherst at Memorial Hall, 134 Hicks Way, Amherst, MA 01003-9270. I request this gift be used for __________________ (for instance, a specific department, college, school or program, a scholarship, or for general purposes of the campus)."

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 UMass Amherst 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 UMass Amherst 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 UMass Amherst 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 UMass Amherst where you agree to make a gift to UMass Amherst 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

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eBrochure Request Form

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