Words From the Past Inspire One Couple to Impact the Future

Frederick and Leota Gonzalez

Frederick and Leota Gonzalez have a passion for philanthropic endeavors and for raising and breeding horses and dogs.

Some years ago, Frederick M. and Leota Van DeVeere Gonzalez were struck when the then-dean of Santa Clara Law described losing strong faculty candidates because they were unable to find affordable housing in Silicon Valley.

This year, the Gonzalezes bequeathed the law school a $5 million gift from their future estate, including their house in Los Altos, California, to ensure a home for future deans or visiting professors, as well as funds for student scholarships, research, and strategic initiatives.

Giving to the law school came naturally. Frederick—a veteran high-tech lawyer and three—time SCU graduate with a chemistry undergraduate degree ’71, MBA ’73, and J.D. ’77—has deep ties to the law school, having served for numerous years on its Board of Visitors, on its Alumni Association Board of Directors, and on at least 10 undergraduate class-reunion committees. He has advised hundreds of law students through the school’s mentorship programs, and for years organized the popular Law Career Day, designed to introduce students to alumni in dozens of practice areas. Leota is retired from serving as a program manager for aerospace and military contracting companies. She currently supports the couple’s philanthropic endeavors, which include an endowed scholarship to help defray costs for law students pursuing degrees at Santa Clara Law.

“Our nearly 40-year relationship with Santa Clara Law has been one of the most gratifying endeavors in our lives,” Frederick says. “We’ve seen up close the good that is so often accomplished by those who graduate from Santa Clara Law. We wanted to contribute a significant portion of our legacy to making sure that caliber of learning continued.”

Leave Your Mark at SCU

Contact the Gift Planning team at 408-554-2108 or giftplanning@scu.edu to learn how you can follow in Frederick and Leota Gonzalez’s footsteps and support your passion at SCU.

A charitable bequest is one or two sentences in your will or living trust that leave to Santa Clara 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 Santa Clara University, a nonprofit corporation currently located at 500 El Camino Real, Santa Clara, CA 95053-1400, 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 SCU 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 SCU 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 SCU 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 SCU where you agree to make a gift to SCU 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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