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Bringing Dreams to Life through Scholarships

Demarcus Black

Demarcus Black

In a field that requires dedication above and beyond any salary, sophomore Demarcus Black is demonstrating his calling to serve others as he pursues his dream of becoming a nurse.

Born in Fairhope, Ala., Demarcus is a first-generation college student majoring in nursing at The University of Southern Mississippi. In addition to academics, he is actively involved in EagleTHON and Sigma Nu Fraternity.

“I chose to pursue a nursing career because I have always felt the need to make the world a better place—whether it be small or big,” Demarcus said. “I’ve always looked up to doctors and nurses as I was growing up. For some reason, they impacted me in a positive way to achieve my goals and inspired me to be where they are and do what they do.”

Demarcus is the recipient of the Wilbert K. Parnell Scholarship, which was established in honor of Wilbert "Will" Parnell, who overcame a plethora of obstacles during his time as a student at Southern Miss.

Born Nov. 2, 1939, Wilbert was an excellent student, both academically and athletically, who studied mathematics and played baseball at Southern Miss for two years. Will had a strong desire to better himself and continued his graduate studies during the summers. As he was traveling home from college one weekend, he was involved in a tragic car accident resulting in brain injuries and the loss of his right eye, leaving him incapacitated for some time.

After a year of rehabilitation, Will was able to return to his career in education, with a focus on driver’s education. It was in this field he excelled and received much recognition for his contributions. In addition to teaching classes, he helped organize driving clubs within the state and across the nation. He became a highly recommended consultant in the field of driver’s education. After 30 years of dedicated service, Will retired. He passed away on Feb. 22, 2019.

His wife, Benita, explained, “Education was important to Will, as was the opportunity it afforded a person. He was persistent, hardworking and had grit to accomplish anything he worked at, especially after the accident. He came from nothing, but he knew the transformation and success education could provide his family. He was proud of his accomplishments, including being a husband and father to our three children.”

It was Mr. Parnell’s hope that this endowment would provide opportunities for USM students. Through a bequest, making USM the beneficiary, he is doing just that.

You Can Help

Would you like to be a part of this lasting influence, as well? If you are interested in naming Southern Miss as a beneficiary of an insurance policy, a will or bequest designation, or another type of estate gift, please contact Daniel Barton at 601.266.6428 or daniel.barton@usm.edu.

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Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

A charitable bequest is one or two sentences in your will or living trust that leave to The University of Southern Mississippi 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 give to The University of Southern Mississippi Foundation, a nonprofit corporation currently located at 118 College Drive #5210, Hattiesburg, MS 39406-0001, 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 the USM Foundation 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 the USM Foundation 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 the USM Foundation 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 the USM Foundation where you agree to make a gift to the USM Foundation 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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