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A Passion for Education, History, and Southeast Missouri State

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Soon after her graduation from Dexter High School in 1956, Yvonne Gary married Bob Keathley. As the years passed, the couple were soon busy raising their four children.When their boys were all in school, however,Yvonne became interested in pursuing a college degree and started classes at Three Rivers Community College near her home. She then transferred to Southeast and graduated with a bachelor's degree in education in 1976.

Yvonne embarked on a teaching career that spanned two decades in the junior high and high school in Bernie,Missouri. She touched the lives of many students during her 20 years of teaching language arts and communications. Clearly, she also set a terrific example for her own children, because each of the Keathley children went on to achieve their own college degrees, including two from Southeast.

Upon her retirement in 1998, the family wanted to honor Yvonne for her years of teaching and community service. Her sons felt the best way to do this was to establish a scholarship at Southeast Missouri State University.Through this endowment, future generations of Southeast Missouri young people will be able to attain their college degrees at Southeast.

Meanwhile, Bob Keathley, along with his four sons, operated the family business until the business was sold. Bob was the third generation of Keathleys to own and operate the IXL Group, manufacturing wood turnings throughout Southeast Missouri.

In retirement, Bob has pursued his passion for history by commissioning the translation of a fascinating historical account of the very earliest time in America by a German history professor, who traveled in the new country in the late 1700s. Providing the necessary resources, he worked with the Southeast Missouri State University Press to publish 1700s in America in 2005.

Through this book, Bob Keathley has left his own legacy in Bernie and at Southeast Missouri State in a unique way. Bob has devoted all of the proceeds from this book to endow a second Keathley scholarship at Southeast.This scholarship will provide much-need financial support to teachers in the Bernie School District who are working toward furthering their education through a graduate degree at Southeast.

The Southeast Missouri State University Alumni Association's Distinguished Service Award was presented to this couple in October 2006, recognizing their many achievements and service to the University. They have each set an example, not only by their financial generosity, but also by giving of their time, talents and energy.

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A charitable bequest is one or two sentences in your will or living trust that leave to the Southeast Missouri University Foundation 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, [name], of [city, state, ZIP], give, devise and bequeath to Southeast Missouri University Foundation, Cape Girardeau, Missouri, 63701, [the sum of _____] or [_____% of the rest, residue and remainder of my estate, both real and personal] for its charitable purposes in support of Southeast Missouri State University [for its unrestricted use] or [to establish the _____________ Fund]."

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 Southeast 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 Southeast 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 Southeast 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 Southeast where you agree to make a gift to Southeast 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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