Pass It On: The Gift of Opportunity

Jim Harteis

Jim Harteis '65

The day after Jim Harteis graduated from Delaware Valley College (now University) in 1965, he wrote a letter to the board and the president. In it, he thanked them for giving him the opportunity to work hard and earn his dairy science degree.

"I had so many people helping me," he says. "And I didn't have one experience that wasn't positive with my instructors." Looking back on his college years as a student with lean financial resources but a wealth of support, Jim has found a way to perpetuate the generosity.

He's created a unique DelVal legacy by combining his current giving with future support through a gift in his estate plan, also known as a bequest. With this blended approach to giving, Jim invests in the University today and helps ensure it can plan for the future with confidence.

He is the founding benefactor of the James L. Harteis Emergency Endowed Scholarship Fund. Jim also recently established the James L. Harteis '65 and Ruth Harteis Agricultural Endowment Fund to support the University's agricultural programs in perpetuity through a generous $1.5 million gift.

"Jim's commitment helps ensure that we can provide deserving students the same quality experiences that he had. We are grateful," says Keith Richardson, vice president for development and alumni affairs.

"It was absolutely a no-brainer," Jim says of his DelVal gift—a small token for what he gained through his college experience. Now retired, Jim was a successful dairy farmer, winning several state prizes for the highest milk-producing herd. He also won the Alumni Achievement Award for Animal Science at DelVal in 1985, among other notable honors.

"My life certainly wouldn't have happened if DelVal hadn't first given me the opportunity."

To learn more about creating your lasting impact at DelVal, contact Maryann Fox at 215.489.4528 or

A charitable bequest is one or two sentences in your will or living trust that leave to Delaware Valley University 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 Delaware Valley University, a nonprofit corporation currently located at 700 East Butler Avenue, Doylestown, PA 18901, 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 DelVal 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 DelVal 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 DelVal 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 DelVal where you agree to make a gift to DelVal 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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