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Gift Planning

Planned Giving

Find out what types of assets make the best planned gifts. Learn about gifts of cash, securities and property.

Bob and Mary Are Giving Smarter and Achieving Their Dreams...Find Out How You Can Too!

Couple posing with two dogs

Bob and Mary first met at Two-Bit Flicks, a 25-cent movie night held on Fridays in Brighton Lecture Hall. When the spring formal hosted by the women's dorm came around, Mary asked Bob to go with her. It was their first "official" date.

The rest, as the saying goes, is history. Or in Bob and Mary's case, it is natural history. That's because Emporia State also introduced them to a lifelong passion for the natural sciences.

Bob and Mary feel Emporia State was the catalyst for the life they've built together. Mary became a science educator for 6th, 7th, 8th and 9th grade students. Bob founded and served as director of the Great Plains Nature Center and became a renowned nature photographer.

Now they want others to have the same opportunity they did. They want to help students come to ESU and discover a passion they can follow for the rest of their lives.

Bob and Mary found a simple and easy way to achieve this dream. When they set up their trust, they named Emporia State as a beneficiary.

What's your dream?

Learn how easy it is to make your dream a reality by naming Emporia State University in your will or trust. Contact Angela Fullen, Director of Planned Giving at the Emporia State University Foundation. She can answer your questions or help you get started. If you have already named Emporia State in your will or trust, let us know. We will make sure your gift does everything you want it to do.

"I would encourage anyone, if they are thinking about doing something like this, to contact the Foundation. For us, it has been a great experience." - Mary Butel

Getting Started is Easy

Not sure how to take the first step? We've got just the thing you need. Download your free Will and Estate Planning Guide. This guide is an easy way to get started on, or update, your estate plan. It will help you explore your options at your own pace. It's free, easy and yours to keep.

Download your copy today or contact Angela Fullen to request a printed copy.

Image of Angela Fullen

Angela Fullen
Director of Planned Giving
Telephone: 620-341-6465
[email protected]

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Thursday November 30, 2023

Private Letter Ruling

Foundation's Set-Aside Extension Approved

GiftLaw Note:
Foundation is tax-exempt under Sec. 501(c)(3) and a private foundation under Sec. 509(a). Foundation previously requested and received approval to expend set-aside funds within a 60-month period in connection with Foundation's construction project. During planning work, it was determined that the initial site was not suitable. An alternate site selected by Foundation had an existing structure that required renovation and retrofitting. Renovation of the alternate site project experienced significant delays due to COVID-19 and Foundation was unable to expend the funds over the five years. Foundation requests approval of an extension for a specified number of months to expend the set-aside funds. Foundation expects all payments will be completed within the requested time frame.

Section 4942(g)(2)(B)(i) allows for a set-aside if the organization establishes that the amount will be paid within five years and the project can be better accomplished using the set-aside than by an immediate payment. The five-year period to expend funds can be extended if a set-aside satisfies the requirements of Section 4942(g)(2)(B)(i) and good cause is shown. Under Reg. 53.4942(a)-3(b)(7)(i)(e), the request for an extension must include a statement showing good cause for why the period should be extended and specifying the requested extended period. Here, the Service determined that Foundation met the requirements for an extension. As such, Foundation's request for an extension of the set-aside payment period is approved.
PLR 202333008 Foundation's Set-Aside Extension Approved

8/18/2023 (5/23/2023)

Dear * * *:

We received your G request for * * *-month extension to pay out a set-aside approval on H. Based on the information furnished, we approved your request.

Our ruling dated J approved a c dollars set-aside for the year ending K for the purpose of completing the construction project related to your exemption purpose. You stated the set-aside would be expended within months.

Description of your set-aside request

In B you submitted and received approval for a set-aside in the amount of c dollars toward the development and construction of D. Planning work revealed the selected location for D would not be ideal; another existing structure was found to be more suitable but would require renovation/retrofitting. During subsequent planning phases for this project you experienced significant delays in renovating the newly selected facility due to COVID-19. As a result of these delays, it is highly unlikely that the approved set-aside funds will be expended within the 60-month period.

Therefore, you are requesting a * * *-month extension to the advance approval set-aside amount granted in B of c dollars for the completion of D. All set-asides totaling c dollars are now anticipated to be disbursed by F. You expect updated budgetary and project timelines will allow you to complete the planned project by the given time frames.

Basis for our determination

Internal Revenue Code (IRC) Section 4942(g)(2)(B)(i) provides requirements for approval of a set-aside for a specific project that will be paid out in five years. A foundation must establish that the project can be accomplished better by using the set-aside instead of by making an immediate payment. A set-aside may have its period to pay extended if it satisfies the requirements of IRC Section 4942(g)(2)(B)(i) and good cause is shown.

Treasury Regulation Section 53.4942(a)-3(b)(7)(i)(e) states that you must provide a statement showing good cause as to why the set-aside payment period should be extended, specifying the requested extension of time.

Additional information

This determination may only be used by the organization that requested it. IRC Section 6110(k)(3) provides that it may not be used or cited as a precedent.

Visit for more information.

We'll make this determination letter available for public inspection after deleting certain identifying information, as required by IRC Section 6110. Read the enclosed Letter 437, Notice of Intention to Disclose, and review the attached letter that shows our proposed deletions. If you disagree with our proposed deletions, follow the instructions in the Letter 437 on how to notify us. If you agree with our deletions, you don't need to take any further action.

Keep a copy of this letter for your records.

If you have questions, you can call the contact person shown above.


Stephen A. Martin
Director, Exempt Organizations
Rulings and Agreements

Redacted Letter 4798
Letter 437

Published August 25, 2023

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