College presidents deal with a lot of phone calls–some good, some not so good. Austin College President Oscar C. Page learned of good news for the College in one phone call. He was notified that the late Priscilla Connally of Amarillo, Texas, had included Austin College as a beneficiary of her estate with a bequest of $1.5 million to establish the Tom and Priscilla Connally Endowed Scholarship Fund.
“We never fail to be surprised by the generosity to our institution from people we never knew or met,” Dr. Page said. “We have learned that Mrs. Connally believed in the value of education and pledged a large portion of her estate to make it possible for deserving young men and women to attend college, and especially two Presbyterian colleges, Austin College and Grove City College. Her gift will significantly enhance our efforts to recruit the very best students.”
Austin College learned of the bequest from Mrs. Connally’s attorney, W. F. ‘Bill’ Countiss. His firm of Hinkle, Hensley, Shanor & Martin, LLP, in Amarillo, managed Mrs. Connally’s legal affairs for decades. The phone call from the attorney created for Austin College one of those special moments when an unanticipated and significant gift matched perfectly with the priority of the Campaign for the New Era to greatly increase endowed funds for scholarships.
A Phi Beta Kappa honoree, Mrs. Connally graduated in 1935 from the University of Nebraska. Philanthropy was a family tradition as her parents supported the university and ultimately deeded their home to be used as a clinic for teaching. Priscilla moved to Amarillo in 1958 after marrying Tom Connally, a widower, who had established a successful business, Connally Implement Supply Company, that he owned and operated until his death in 1965. The couple had no children and Priscilla, a widow for 36 years, died in 2001.
Judy Glenn, CPA and executor of the Connally Estate, and Mr. Countiss described Mrs. Connally as a very private person. “She had her very close group of lady friends,” said Countiss, “who enjoyed golf and bridge and art. She was an accomplished artist, though not at a professional level. She and her husband also collected many beautiful items during their years of travel.”
Both her attorney and CPA said that Mrs. Connally was not interested in being acknowledged for her philanthropy in her lifetime. She never discussed why she had chosen to make gifts to Amarillo College, Austin College, or Grove City College, though, the gifts made it clear that she valued education.
Bill Countiss and Judy Glenn attended the Campaign for the New Era kickoff in April 2002. Bill returned in November with his wife, Mary Dee, to present a check for $1 million to Jim Lewis, vice president for institutional advancement, to create the Tom and Priscilla Connally Endowed Scholarship Fund. The guests were pleased to spend time with Austin College students during their visit and said that Mrs. Connally would be well pleased with the recipients of her benevolence. “Students are at Austin College for an education, not for fun,” Mr. Countiss said. “These kids have a purpose in their eyes.”
The language below shows how a bequest can be included in your will. We encourage you to select the “print” button on the top of your screen, print this page, and share it with your attorney. If you or your attorney have any questions, please contact us at 903.813.2336 or email plannedgiving@austincollege.edu.
SAMPLE LANGUAGE FOR A CONTINGENT BEQUEST
“Should all previously referenced heirs to my estate precede me in death and the payment of all legally enforceable debts, I/We hereby give, devise, and bequeath all remaining assets held by my estate, real and personal, to Austin College, a Texas corporation located at Sherman, Texas, to benefit the College’s previously established unrestricted endowment fund. It is my/our intention that income from this fund be used for the purpose of providing ongoing support for excellence in higher education, and utilized in accordance with the endowment policies established and approved by the Austin College Board of Trustees and the parameters of the fund, without further restriction.”
SAMPLE LANGUAGE FOR A BEQUEST OF A SPECIFIC AMOUNT
“As means of honoring ____________ I/We hereby give, devise, and bequeath to Austin College of Sherman, the sum of $__________ /or/ _____ percent of the residuum of my estate, to fund or build the permanent endowment of the ____________ Endowed Scholarship/Fund, to be governed by an agreement with Austin College, dated __________. It is my/our intention that income from this fund be used in accordance with the endowment spending policy established and approved by the Austin College Board of Trustees and the parameters of the fund, without further restriction.”
SAMPLE LANGUAGE FOR A BEQUEST OF A PERCENTAGE OF AN ESTATE
“As means of honoring ____________ I/We hereby give, devise, and bequeath to Austin College of Sherman, _____ percent of the residuum of my estate, to fund or build the permanent endowment of the ____________ Endowed Scholarship/Fund, to be governed by an agreement with Austin College, dated __________. It is my/our intention that income from this fund be used in accordance with the endowment spending policy established and approved by the Austin College Board of Trustees and the parameters of the fund, without further restriction.”
SAMPLE LANGUAGE FOR A BEQUEST OF ART, BOOKS, JEWELRY
OR OTHER PERSONAL PROPERTY
“As means of honoring ____________ I/We hereby give, devise, and bequeath to Austin College of Sherman, __(list object here)_______ , to enhance the opportunities for study and research afforded by the Abell Library College Archives and to increase the reputation of Austin College. This bequest subject to all policies established and approved by the Austin College Board of Trustees.”
Back to Donor Stories >>