Skip to Content
The best public universities have the strongest private support.

Jacobs Family Makes Historic $30 Million Gift

Jeremy M. Jacobs with medical studentsJeremy M. Jacobs, his wife, Margaret, and their family have given an historic $30 million to the University at Buffalo School of Medicine and Biomedical Sciences.

As chairman of Delaware North Companies and a longtime supporter of UB, Jeremy is one of the community’s most dedicated philanthropists.

In recognition of his tremendous service and philanthropy to the university, the UB medical school will be named the Jacobs School of Medicine and Biomedical Sciences.

“This is a great and historic milestone for UB, as the first school-naming in our university’s long and distinguished history. It is truly fitting that the medical school—UB’s founding school—would have this great distinction,” says UB President Satish K. Tripathi.

With the gift to UB’s medical school, the Jacobs family has given more than $50 million to the university, making the Jacobs family one of UB’s most generous benefactors. The gift is the largest to the $200 million campaign for the UB medical school and brings the school to 80 percent ($160 million) of its goal.

Jeremy says his family was inspired to make the gift in recognition of the UB medical school’s key role in advancing new treatments for patients and in realizing the full potential of the Buffalo Niagara Medical Campus.

“My family is honored to make this investment in the community,” Jacobs says. “We look forward to Western New York becoming a world-class destination for health care.”

Michael E. Cain, MD, vice president for health sciences at UB and dean of the medical school, said that the Jacobs gift will support priority initiatives at the medical school, which will be completed in 2017.

“This very generous gift adds to an exciting momentum within the medical school over the past several years,” Dr. Cain says. “It will help the medical school continue to recruit the very best faculty, students and clinicians whose expertise is advancing patient care in our community.”

Learn more about making a gift to help future generations by contacting Ms. Wendy M. Irving, (716) 881-7484 or irving@buffalo.edu.

eBrochure Request Form

Please provide the following information to view the brochure.

A charitable bequest is one or two sentences in your will or living trust that leave to the University at Buffalo 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, devise, and bequeath to the University at Buffalo Foundation, Inc., a nonprofit education corporation, headquartered in Buffalo, New York, the (sum of $_____) or (_____% of my estate) or (the property described herein) or (the remainder of my estate) to benefit the University at Buffalo."

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 University at Buffalo 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 University at Buffalo 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 University at Buffalo 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 University at Buffalo where you agree to make a gift to the University at Buffalo 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.

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.