document
DESCRIPTION
http://www.foundation.iastate.edu/docs/insights/winter10.pdfTRANSCRIPT
”
If you have any questions about providing support to Iowa State through your IRA, please feel free to contact us at 800.621.8515.
INSIGHTSINSIGHTSA C H A R I T A B L E P L A N N I N G G U I D E F O R I S U A L U M N I A N D F R I E N D S
WINTER 2010
I O W A S T A T E U N I V E R S I T Y F O U N D A T I O N
backyard conversationwith their neighbor and
attorney was all it tookfor Des Moines-area residents Ronand Marla Franklin to finally sit downand work on their estate plans.
“We were at an age where we needed
a will,” says Marla, who is retired
from her position as vice president for
human resources at Allied Insurance.
“We had no kids and didn’t want to
spend a lot of money on a will. Our
neighbor at the time said he would
help us, so we took a six pack to the
deck, and in the space of a couple
of hours, we got it wrapped up.”
The Iowa State University
graduates realize that their estate
planning was made easier because
of their personal situation. “Our
neighbor led us through the process,” says
Ron, who retired as a managing director for
the Principal Financial Group. “Basically,
he was picking our brains to learn what
was important to us. He kept asking the
question, ‘What do you want to do with
your assets that will make you feel good?’”
MAKING AN IMPACT THROUGH THEIR WILL Establishing a bequest in a will and
naming the Iowa State University
Foundation as the beneficiary is the
easiest and most popular deferred gift
plan used by Iowa State alumni and
friends. Donors may name the ISU
“Iowa State is involved in numerous
worthwhile projects. It was
important to us to continue
to support the university so
even more can be done.
—Ron Franklin
To learn how you can easily provide support for future ISU students, go to www.foundation.iastate.edu/studentsupport.
A
The ISU Foundation is acknowledged by Iowa State University as the preferred channel for administering trust and estate gifts that benefit the university. This is accomplished by using the name Iowa State University Foundation in your legal documents. Please contact the foundation for additional information.
IOWA STATE UNIVERSITY FOUNDATION
2505 UNIVERSITY BOULEVARD
P.O.BOX 2230AMES, IOWA 50010-2230TOLL-FREE: 800.621.8515www.isugift.org
Share the following suggested wording with your estate planning attorney to add to your will or living trust.
I give, devise and bequeath to the Iowa State University
Foundation, a not-for-profit corporation, existing under
the laws of the State of Iowa, and located at Ames, Iowa,
______ (percent of my estate, dollars, property, securities,
etc.) to be used for ______ (however you wish for your
gift to be used) at Iowa State University.
>> HOW TO REMEMBER IOWA STATEUNIVERSITY IN YOUR WILL
OUR MISSION
Iowa State University works
to create, share and apply
knowledge to make Iowa and
the world a better place. The
Iowa State University Foundation
is a private non-profit organization
dedicated to securing and stewarding
private gifts and grants that benefit
Iowa State University. Each year,
thousands of generous benefactors
make gifts to show their
support for Iowa State.
ACTION LIST PLANNING MEASURES YOU CAN TAKE TODAY
Although your IRA may have taken a hit recently, it likely remains one of your biggest assets. Whilethis plan is a good solution forretirement, it is not a great optionfor passing on an inheritance.
The reason? IRAs and other
retirement assets are taxable
income when received by
individual beneficiaries —
therefore, the funds are
exposed to income taxes.
A CHARITABLE SOLUTIONIf you’ve thought about making a gift
to the Iowa State University Foundation,
consider giving IRA assets to us and
giving other assets that are not as heavily
taxed to family members. As a nonprofit
organization, Iowa State is tax-exempt, so
we can use 100 percent of your IRA. To
start the process:
> Contact your IRA administrator
for a change of beneficiary form.
> Name us and the gift percentage
on the form.
> Return the form to your IRA administrator.
YOUR IRA:The Unwanted Inheritance
Send back the enclosed reply card to receive a complimentarycopy of 15 Reasons to Update Your Will.
Visit www.isugift.org to learn more about including theIowa State University Foundation in your will.
Contact us at 800.621.8515 to learn more about topics covered in this newsletter or another topic that interests you.
IN THIS ISSUE• How to Remember
Iowa State in Your Will: 3 Easy Decisions to Make
• Write a Check? Savvy People Think Twice
• Your IRA: The UnwantedInheritance
• Total Support to Campaign Iowa State
©2010 Iowa State University Foundation and The Stelter CompanyThe information in this publication is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to income tax apply to federal taxes only. Federal estate tax, state income/estate taxes or state law may impact your results.
RON AND MARLA FRANKLIN: DISCOVERING THE POWER OF A PLAN
Continued Inside
TOTAL SUPPORT TOCAMPAIGN IOWA STATE>> STUDENT SUPPORT - $235 MILLION GOAL
An additional 640 scholarships for Iowa State undergraduate and graduate students have been established duringCampaign Iowa State.
>> FACULTY SUPPORT - $215 MILLION GOALSince Campaign Iowa State commenced, 62 endowed facultypositions have been created.
>> PROGRAM SUPPORT - $195 MILLION GOALCampaign Iowa State’s goal has been surpassed but additionalprogrammatic support is needed throughout campus.
>> FACILITIES SUPPORT - $155 MILLION GOALFifteen campus facilities have been constructed or renovatedduring Campaign Iowa State.
YOUR PLAN FOR SUCCESSAs life changes, so should your will. Make sure your will matches yourintentions by keeping it current. Send back the enclosed reply card toreceive a complimentary guide of 15 Reasons to Update Your Will.
Gifts and commitments as of December 31, 2009
Facilities $124 million
Faculty $153 million
Programs$241 million
Students$224 million
Total: $742 million
CHOOSE WHAT TO GIVE.Pick from one of these four options.
> A specific bequest gives Iowa State a
particular piece of property. If you
disposed of the property before your
death, we cannot claim any other property.
> A general bequest gives us a stated sum
of money. If there is insufficient cash in
your estate to cover the bequest, other
assets must be sold for cash to pay the
stated amount.
> A residuary bequest gives the “rest,
residue and remainder” of your estate,
or, more commonly, a percentage of
the residue, after all other bequests,
debts and taxes have been paid.
> A contingent bequest requires a certain
event to occur before the gift can happen.
For example, you could bequeath funds
to a family member provided that person
survives you; if not, the funds would then
go to Iowa State.
DECIDE HOW YOUWOULD LIKE IOWA
STATE TO USE YOUR GIFT.Choose from one of these three options.
> An unrestricted bequest allows us to use
the assets in the most beneficial way.
> A restricted bequest allows you to
specify how Iowa State can use the
funds. Contact us in advance to be
certain your intent can be fulfilled.
> An endowed bequest allows you to
restrict the principal of your gift
so we can use only a small portion
each year, allowing the fund to last forever.
DETERMINE IF YOUWOULD LIKE TOCOMMEMORATE
SOMEONE WITH YOUR GIFT.If so, please let us know your intentions.
Whatever your choices regarding what to
give and how you’d like your gift used,
you can make your bequest in honor or
in memory of someone special.
It is important to enlist the help of a qualified
estate planning attorney when naming Iowa
State in your will. Please let us know when you
have made such a gift so we can thank you and
recognize your gift.
GIFT IMPACTBequests“Manley R. Hoppe is a prime exampleof Iowa State University’s richtradition of educating studentleaders in engineering that go on to make substantial contributions to our world, and I will proudlycontinue to educate student leaders at Iowa State at theundergraduate and graduate levels.”
Jacqueline Vanni ShanksManley R. Hoppe Professor inChemical Engineering
BEQUESTSA bequest in your will or living trustnaming the Iowa State UniversityFoundation is the easiest and mostpopular deferred gift plan used byalumni and friends. Donors may namethe Iowa State University Foundation as a percentage beneficiary, for aspecific dollar amount or specific assets, or as a residual or contingentrecipient. Your assets can also be used to support Iowa State for the purposes you have documented, such as thedevelopment of professorships like the one highlighted here.
THERE ARE MANYWAYS TO GIVE
To learn about the many types of gifts you can make to support Iowa State Universityand their benefits to you, contact the Iowa State UniversityFoundation today!
WRITE A CHECK? SAVVY PEOPLE THINK TWICENo matter the amount, all forms of giving come from the heart. Before you reach for your checkbook, though, consider other moreadvantageous ways to support Iowa State University.
DID YOU KNOW?
You can amend or
even revoke your
bequest to us at
any time. As your
circumstances
change, so can
your gift to us.
Please always remember that we appreciate your gift whether it is immediate or years from now, and wewill help you find the right gift for your unique circumstances.
DEFERRED GIFTS
A popular method includes
leaving a gift in your will or
revocable living trust. Also,
consider leaving us your
retirement plan assets, which
would be heavily taxed if left
to your heirs upon your death.
VOLUNTEERING
There are many opportunities
to give your time and expertise.
Accept an offer to serve on a
board or committee, make
calls for a capital campaign, or
donate your time when asked
for help.
INVESTMENT ASSETS
Stocks, bonds, real estate and
other property that have grown
in value since you first purchased
them make it possible to give a
larger donation for less cost and
even provide tax benefits for you.
LIFE INSURANCEPOLICIES
Although often forgotten, gifts
of life insurance are a great way
to leverage your giving. Donate
paid-up life insurance policies
with cash values or give us a
new policy with our organization
named as owner and beneficiary.
Foundation as a beneficiary of a percentage
of their estate, a specific dollar amount
or specific assets, or as a residual or
contingent recipient. “I was surprised
how easy it was, and we’re very pleased
with the end product,” Ron says.
Iowa State jumped to the forefront
of what is important to Ron and Marla.
Ron graduated in 1968 from Iowa State
with a degree in industrial administration.
Marla also graduated that year, with a
degree in economics.
After taking care of the “absolute
needs” in their estate plans, the Franklins
turned their attention to what they
wanted to do with the rest of their
assets. The couple looked at a number
of charitable organizations they had
supported in the past, including Iowa
State. Most of their previous gifts to the
university had been directed to Cyclone
Athletics as well as their respective
academic programs. “We both received
scholarships to attend Iowa State,” Ron
says. “Without that assistance, it would
have been a lot tougher going to school.
Iowa State is involved in numerous
worthwhile projects.
It was important
to us to continue
to support the
university so even
more can be done.”
“We were
fortunate to gain
some advantages
that an Iowa
State degree
gives people,”
Marla says.
“It just
seemed appropriate
to give back to that legacy. It’s
something we both feel good about.”
Marla says the decision to leave
a bequest to Iowa State was an easy
one. “The university did the best
job of staying in touch with us and
informing us of what was happening.
“That really raised Iowa State in
my consciousness and showed that
they put the funds, regardless if the
gifts were $25 or $25 million, to
good use.”
Currently the couple has not
designated a university fund or
funds for their bequest.
“We decided to make this gift
unrestricted with the thought we
should put the funds in the hands
of the individuals who know where
the best use of the money would
be — where it can have the maximum
impact,” Marla said.
Continued from Cover
JACQUELINE VANNI SHANKS
HOW TO REMEMBER IOWA STATE IN YOUR WILL: 3 EASY DECISIONS TO MAKE
>>BUT WHAT ABOUT THE KIDS?New research reveals how your loved ones really feel aboutsharing a piece of their inheritance with a nonprofit. Ina scientific study, researchers posed the following questionto the 31 percent of Americans aged 30+ who expect toor have already received an inheritance:
“Suppose someone other than your spouse were to leave you aninheritance. If they had also decided a nonprofit organization would get a percentage, something like 5 percent to 10 percent, in all honesty, do you think you would wish they had left 100percent to individuals rather than to organizations, or do you think a gift to an organization is a reasonable choice?”
HERE’S HOW THEY RESPONDED:
f you’re like many of our supporters,you hold Iowa State University closeto your heart and want to keep
supporting our mission far into the future.But what if, because of life’s ups anddowns, you don’t know how much youcan afford to part with today?
You can help shape the future of those
we serve by planning a gift to Iowa State
after your lifetime. This type of charitable
gift is perfect for those who support
our university but need the flexibility
to change their minds at any time and
keep their current assets intact.
Referred to as a bequest, a gift in your
will can take many forms. Make these three
decisions before asking your estate planning
attorney to add the legal language to
your will.
I
A gift to an organization is a reasonable choice
Not sure
Wish 100 percent would go to individuals
2
1
3
“It just seemed appropriate
to give back to that legacy.
It’s something we both feel
good about.
—Marla Franklin”
RON AND MARLA FRANKLIN: DISCOVERING THE POWER OF A PLAN
CHOOSE WHAT TO GIVE.Pick from one of these four options.
> A specific bequest gives Iowa State a
particular piece of property. If you
disposed of the property before your
death, we cannot claim any other property.
> A general bequest gives us a stated sum
of money. If there is insufficient cash in
your estate to cover the bequest, other
assets must be sold for cash to pay the
stated amount.
> A residuary bequest gives the “rest,
residue and remainder” of your estate,
or, more commonly, a percentage of
the residue, after all other bequests,
debts and taxes have been paid.
> A contingent bequest requires a certain
event to occur before the gift can happen.
For example, you could bequeath funds
to a family member provided that person
survives you; if not, the funds would then
go to Iowa State.
DECIDE HOW YOUWOULD LIKE IOWA
STATE TO USE YOUR GIFT.Choose from one of these three options.
> An unrestricted bequest allows us to use
the assets in the most beneficial way.
> A restricted bequest allows you to
specify how Iowa State can use the
funds. Contact us in advance to be
certain your intent can be fulfilled.
> An endowed bequest allows you to
restrict the principal of your gift
so we can use only a small portion
each year, allowing the fund to last forever.
DETERMINE IF YOUWOULD LIKE TOCOMMEMORATE
SOMEONE WITH YOUR GIFT.If so, please let us know your intentions.
Whatever your choices regarding what to
give and how you’d like your gift used,
you can make your bequest in honor or
in memory of someone special.
It is important to enlist the help of a qualified
estate planning attorney when naming Iowa
State in your will. Please let us know when you
have made such a gift so we can thank you and
recognize your gift.
GIFT IMPACTBequests“Manley R. Hoppe is a prime exampleof Iowa State University’s richtradition of educating studentleaders in engineering that go on to make substantial contributions to our world, and I will proudlycontinue to educate student leaders at Iowa State at theundergraduate and graduate levels.”
Jacqueline Vanni ShanksManley R. Hoppe Professor inChemical Engineering
BEQUESTSA bequest in your will or living trustnaming the Iowa State UniversityFoundation is the easiest and mostpopular deferred gift plan used byalumni and friends. Donors may namethe Iowa State University Foundation as a percentage beneficiary, for aspecific dollar amount or specific assets, or as a residual or contingentrecipient. Your assets can also be used to support Iowa State for the purposes you have documented, such as thedevelopment of professorships like the one highlighted here.
THERE ARE MANYWAYS TO GIVE
To learn about the many types of gifts you can make to support Iowa State Universityand their benefits to you, contact the Iowa State UniversityFoundation today!
WRITE A CHECK? SAVVY PEOPLE THINK TWICENo matter the amount, all forms of giving come from the heart. Before you reach for your checkbook, though, consider other moreadvantageous ways to support Iowa State University.
DID YOU KNOW?
You can amend or
even revoke your
bequest to us at
any time. As your
circumstances
change, so can
your gift to us.
Please always remember that we appreciate your gift whether it is immediate or years from now, and wewill help you find the right gift for your unique circumstances.
DEFERRED GIFTS
A popular method includes
leaving a gift in your will or
revocable living trust. Also,
consider leaving us your
retirement plan assets, which
would be heavily taxed if left
to your heirs upon your death.
VOLUNTEERING
There are many opportunities
to give your time and expertise.
Accept an offer to serve on a
board or committee, make
calls for a capital campaign, or
donate your time when asked
for help.
INVESTMENT ASSETS
Stocks, bonds, real estate and
other property that have grown
in value since you first purchased
them make it possible to give a
larger donation for less cost and
even provide tax benefits for you.
LIFE INSURANCEPOLICIES
Although often forgotten, gifts
of life insurance are a great way
to leverage your giving. Donate
paid-up life insurance policies
with cash values or give us a
new policy with our organization
named as owner and beneficiary.
Foundation as a beneficiary of a percentage
of their estate, a specific dollar amount
or specific assets, or as a residual or
contingent recipient. “I was surprised
how easy it was, and we’re very pleased
with the end product,” Ron says.
Iowa State jumped to the forefront
of what is important to Ron and Marla.
Ron graduated in 1968 from Iowa State
with a degree in industrial administration.
Marla also graduated that year, with a
degree in economics.
After taking care of the “absolute
needs” in their estate plans, the Franklins
turned their attention to what they
wanted to do with the rest of their
assets. The couple looked at a number
of charitable organizations they had
supported in the past, including Iowa
State. Most of their previous gifts to the
university had been directed to Cyclone
Athletics as well as their respective
academic programs. “We both received
scholarships to attend Iowa State,” Ron
says. “Without that assistance, it would
have been a lot tougher going to school.
Iowa State is involved in numerous
worthwhile projects.
It was important
to us to continue
to support the
university so even
more can be done.”
“We were
fortunate to gain
some advantages
that an Iowa
State degree
gives people,”
Marla says.
“It just
seemed appropriate
to give back to that legacy. It’s
something we both feel good about.”
Marla says the decision to leave
a bequest to Iowa State was an easy
one. “The university did the best
job of staying in touch with us and
informing us of what was happening.
“That really raised Iowa State in
my consciousness and showed that
they put the funds, regardless if the
gifts were $25 or $25 million, to
good use.”
Currently the couple has not
designated a university fund or
funds for their bequest.
“We decided to make this gift
unrestricted with the thought we
should put the funds in the hands
of the individuals who know where
the best use of the money would
be — where it can have the maximum
impact,” Marla said.
Continued from Cover
JACQUELINE VANNI SHANKS
HOW TO REMEMBER IOWA STATE IN YOUR WILL: 3 EASY DECISIONS TO MAKE
>>BUT WHAT ABOUT THE KIDS?New research reveals how your loved ones really feel aboutsharing a piece of their inheritance with a nonprofit. Ina scientific study, researchers posed the following questionto the 31 percent of Americans aged 30+ who expect toor have already received an inheritance:
“Suppose someone other than your spouse were to leave you aninheritance. If they had also decided a nonprofit organization would get a percentage, something like 5 percent to 10 percent, in all honesty, do you think you would wish they had left 100percent to individuals rather than to organizations, or do you think a gift to an organization is a reasonable choice?”
HERE’S HOW THEY RESPONDED:
f you’re like many of our supporters,you hold Iowa State University closeto your heart and want to keep
supporting our mission far into the future.But what if, because of life’s ups anddowns, you don’t know how much youcan afford to part with today?
You can help shape the future of those
we serve by planning a gift to Iowa State
after your lifetime. This type of charitable
gift is perfect for those who support
our university but need the flexibility
to change their minds at any time and
keep their current assets intact.
Referred to as a bequest, a gift in your
will can take many forms. Make these three
decisions before asking your estate planning
attorney to add the legal language to
your will.
I
A gift to an organization is a reasonable choice
Not sure
Wish 100 percent would go to individuals
2
1
3
“It just seemed appropriate
to give back to that legacy.
It’s something we both feel
good about.
—Marla Franklin”
RON AND MARLA FRANKLIN: DISCOVERING THE POWER OF A PLAN
CHOOSE WHAT TO GIVE.Pick from one of these four options.
> A specific bequest gives Iowa State a
particular piece of property. If you
disposed of the property before your
death, we cannot claim any other property.
> A general bequest gives us a stated sum
of money. If there is insufficient cash in
your estate to cover the bequest, other
assets must be sold for cash to pay the
stated amount.
> A residuary bequest gives the “rest,
residue and remainder” of your estate,
or, more commonly, a percentage of
the residue, after all other bequests,
debts and taxes have been paid.
> A contingent bequest requires a certain
event to occur before the gift can happen.
For example, you could bequeath funds
to a family member provided that person
survives you; if not, the funds would then
go to Iowa State.
DECIDE HOW YOUWOULD LIKE IOWA
STATE TO USE YOUR GIFT.Choose from one of these three options.
> An unrestricted bequest allows us to use
the assets in the most beneficial way.
> A restricted bequest allows you to
specify how Iowa State can use the
funds. Contact us in advance to be
certain your intent can be fulfilled.
> An endowed bequest allows you to
restrict the principal of your gift
so we can use only a small portion
each year, allowing the fund to last forever.
DETERMINE IF YOUWOULD LIKE TOCOMMEMORATE
SOMEONE WITH YOUR GIFT.If so, please let us know your intentions.
Whatever your choices regarding what to
give and how you’d like your gift used,
you can make your bequest in honor or
in memory of someone special.
It is important to enlist the help of a qualified
estate planning attorney when naming Iowa
State in your will. Please let us know when you
have made such a gift so we can thank you and
recognize your gift.
GIFT IMPACTBequests“Manley R. Hoppe is a prime exampleof Iowa State University’s richtradition of educating studentleaders in engineering that go on to make substantial contributions to our world, and I will proudlycontinue to educate student leaders at Iowa State at theundergraduate and graduate levels.”
Jacqueline Vanni ShanksManley R. Hoppe Professor inChemical Engineering
BEQUESTSA bequest in your will or living trustnaming the Iowa State UniversityFoundation is the easiest and mostpopular deferred gift plan used byalumni and friends. Donors may namethe Iowa State University Foundation as a percentage beneficiary, for aspecific dollar amount or specific assets, or as a residual or contingentrecipient. Your assets can also be used to support Iowa State for the purposes you have documented, such as thedevelopment of professorships like the one highlighted here.
THERE ARE MANYWAYS TO GIVE
To learn about the many types of gifts you can make to support Iowa State Universityand their benefits to you, contact the Iowa State UniversityFoundation today!
WRITE A CHECK? SAVVY PEOPLE THINK TWICENo matter the amount, all forms of giving come from the heart. Before you reach for your checkbook, though, consider other moreadvantageous ways to support Iowa State University.
DID YOU KNOW?
You can amend or
even revoke your
bequest to us at
any time. As your
circumstances
change, so can
your gift to us.
Please always remember that we appreciate your gift whether it is immediate or years from now, and wewill help you find the right gift for your unique circumstances.
DEFERRED GIFTS
A popular method includes
leaving a gift in your will or
revocable living trust. Also,
consider leaving us your
retirement plan assets, which
would be heavily taxed if left
to your heirs upon your death.
VOLUNTEERING
There are many opportunities
to give your time and expertise.
Accept an offer to serve on a
board or committee, make
calls for a capital campaign, or
donate your time when asked
for help.
INVESTMENT ASSETS
Stocks, bonds, real estate and
other property that have grown
in value since you first purchased
them make it possible to give a
larger donation for less cost and
even provide tax benefits for you.
LIFE INSURANCEPOLICIES
Although often forgotten, gifts
of life insurance are a great way
to leverage your giving. Donate
paid-up life insurance policies
with cash values or give us a
new policy with our organization
named as owner and beneficiary.
Foundation as a beneficiary of a percentage
of their estate, a specific dollar amount
or specific assets, or as a residual or
contingent recipient. “I was surprised
how easy it was, and we’re very pleased
with the end product,” Ron says.
Iowa State jumped to the forefront
of what is important to Ron and Marla.
Ron graduated in 1968 from Iowa State
with a degree in industrial administration.
Marla also graduated that year, with a
degree in economics.
After taking care of the “absolute
needs” in their estate plans, the Franklins
turned their attention to what they
wanted to do with the rest of their
assets. The couple looked at a number
of charitable organizations they had
supported in the past, including Iowa
State. Most of their previous gifts to the
university had been directed to Cyclone
Athletics as well as their respective
academic programs. “We both received
scholarships to attend Iowa State,” Ron
says. “Without that assistance, it would
have been a lot tougher going to school.
Iowa State is involved in numerous
worthwhile projects.
It was important
to us to continue
to support the
university so even
more can be done.”
“We were
fortunate to gain
some advantages
that an Iowa
State degree
gives people,”
Marla says.
“It just
seemed appropriate
to give back to that legacy. It’s
something we both feel good about.”
Marla says the decision to leave
a bequest to Iowa State was an easy
one. “The university did the best
job of staying in touch with us and
informing us of what was happening.
“That really raised Iowa State in
my consciousness and showed that
they put the funds, regardless if the
gifts were $25 or $25 million, to
good use.”
Currently the couple has not
designated a university fund or
funds for their bequest.
“We decided to make this gift
unrestricted with the thought we
should put the funds in the hands
of the individuals who know where
the best use of the money would
be — where it can have the maximum
impact,” Marla said.
Continued from Cover
JACQUELINE VANNI SHANKS
HOW TO REMEMBER IOWA STATE IN YOUR WILL: 3 EASY DECISIONS TO MAKE
>>BUT WHAT ABOUT THE KIDS?New research reveals how your loved ones really feel aboutsharing a piece of their inheritance with a nonprofit. Ina scientific study, researchers posed the following questionto the 31 percent of Americans aged 30+ who expect toor have already received an inheritance:
“Suppose someone other than your spouse were to leave you aninheritance. If they had also decided a nonprofit organization would get a percentage, something like 5 percent to 10 percent, in all honesty, do you think you would wish they had left 100percent to individuals rather than to organizations, or do you think a gift to an organization is a reasonable choice?”
HERE’S HOW THEY RESPONDED:
f you’re like many of our supporters,you hold Iowa State University closeto your heart and want to keep
supporting our mission far into the future.But what if, because of life’s ups anddowns, you don’t know how much youcan afford to part with today?
You can help shape the future of those
we serve by planning a gift to Iowa State
after your lifetime. This type of charitable
gift is perfect for those who support
our university but need the flexibility
to change their minds at any time and
keep their current assets intact.
Referred to as a bequest, a gift in your
will can take many forms. Make these three
decisions before asking your estate planning
attorney to add the legal language to
your will.
I
A gift to an organization is a reasonable choice
Not sure
Wish 100 percent would go to individuals
2
1
3
“It just seemed appropriate
to give back to that legacy.
It’s something we both feel
good about.
—Marla Franklin”
RON AND MARLA FRANKLIN: DISCOVERING THE POWER OF A PLAN
”
If you have any questions about providing support to Iowa State through your IRA, please feel free to contact us at 800.621.8515.
INSIGHTSINSIGHTSA C H A R I T A B L E P L A N N I N G G U I D E F O R I S U A L U M N I A N D F R I E N D S
WINTER 2010
I O W A S T A T E U N I V E R S I T Y F O U N D A T I O N
backyard conversationwith their neighbor and
attorney was all it tookfor Des Moines-area residents Ronand Marla Franklin to finally sit downand work on their estate plans.
“We were at an age where we needed
a will,” says Marla, who is retired
from her position as vice president for
human resources at Allied Insurance.
“We had no kids and didn’t want to
spend a lot of money on a will. Our
neighbor at the time said he would
help us, so we took a six pack to the
deck, and in the space of a couple
of hours, we got it wrapped up.”
The Iowa State University
graduates realize that their estate
planning was made easier because
of their personal situation. “Our
neighbor led us through the process,” says
Ron, who retired as a managing director for
the Principal Financial Group. “Basically,
he was picking our brains to learn what
was important to us. He kept asking the
question, ‘What do you want to do with
your assets that will make you feel good?’”
MAKING AN IMPACT THROUGH THEIR WILL Establishing a bequest in a will and
naming the Iowa State University
Foundation as the beneficiary is the
easiest and most popular deferred gift
plan used by Iowa State alumni and
friends. Donors may name the ISU
“Iowa State is involved in numerous
worthwhile projects. It was
important to us to continue
to support the university so
even more can be done.
—Ron Franklin
To learn how you can easily provide support for future ISU students, go to www.foundation.iastate.edu/studentsupport.
A
The ISU Foundation is acknowledged by Iowa State University as the preferred channel for administering trust and estate gifts that benefit the university. This is accomplished by using the name Iowa State University Foundation in your legal documents. Please contact the foundation for additional information.
IOWA STATE UNIVERSITY FOUNDATION
2505 UNIVERSITY BOULEVARD
P.O.BOX 2230AMES, IOWA 50010-2230TOLL-FREE: 800.621.8515www.isugift.org
Share the following suggested wording with your estate planning attorney to add to your will or living trust.
I give, devise and bequeath to the Iowa State University
Foundation, a not-for-profit corporation, existing under
the laws of the State of Iowa, and located at Ames, Iowa,
______ (percent of my estate, dollars, property, securities,
etc.) to be used for ______ (however you wish for your
gift to be used) at Iowa State University.
>> HOW TO REMEMBER IOWA STATEUNIVERSITY IN YOUR WILL
OUR MISSION
Iowa State University works
to create, share and apply
knowledge to make Iowa and
the world a better place. The
Iowa State University Foundation
is a private non-profit organization
dedicated to securing and stewarding
private gifts and grants that benefit
Iowa State University. Each year,
thousands of generous benefactors
make gifts to show their
support for Iowa State.
ACTION LIST PLANNING MEASURES YOU CAN TAKE TODAY
Although your IRA may have taken a hit recently, it likely remains one of your biggest assets. Whilethis plan is a good solution forretirement, it is not a great optionfor passing on an inheritance.
The reason? IRAs and other
retirement assets are taxable
income when received by
individual beneficiaries —
therefore, the funds are
exposed to income taxes.
A CHARITABLE SOLUTIONIf you’ve thought about making a gift
to the Iowa State University Foundation,
consider giving IRA assets to us and
giving other assets that are not as heavily
taxed to family members. As a nonprofit
organization, Iowa State is tax-exempt, so
we can use 100 percent of your IRA. To
start the process:
> Contact your IRA administrator
for a change of beneficiary form.
> Name us and the gift percentage
on the form.
> Return the form to your IRA administrator.
YOUR IRA:The Unwanted Inheritance
Send back the enclosed reply card to receive a complimentarycopy of 15 Reasons to Update Your Will.
Visit www.isugift.org to learn more about including theIowa State University Foundation in your will.
Contact us at 800.621.8515 to learn more about topics covered in this newsletter or another topic that interests you.
IN THIS ISSUE• How to Remember
Iowa State in Your Will: 3 Easy Decisions to Make
• Write a Check? Savvy People Think Twice
• Your IRA: The UnwantedInheritance
• Total Support to Campaign Iowa State
©2010 Iowa State University Foundation and The Stelter CompanyThe information in this publication is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to income tax apply to federal taxes only. Federal estate tax, state income/estate taxes or state law may impact your results.
RON AND MARLA FRANKLIN: DISCOVERING THE POWER OF A PLAN
Continued Inside
TOTAL SUPPORT TOCAMPAIGN IOWA STATE>> STUDENT SUPPORT - $235 MILLION GOAL
An additional 640 scholarships for Iowa State undergraduate and graduate students have been established duringCampaign Iowa State.
>> FACULTY SUPPORT - $215 MILLION GOALSince Campaign Iowa State commenced, 62 endowed facultypositions have been created.
>> PROGRAM SUPPORT - $195 MILLION GOALCampaign Iowa State’s goal has been surpassed but additionalprogrammatic support is needed throughout campus.
>> FACILITIES SUPPORT - $155 MILLION GOALFifteen campus facilities have been constructed or renovatedduring Campaign Iowa State.
YOUR PLAN FOR SUCCESSAs life changes, so should your will. Make sure your will matches yourintentions by keeping it current. Send back the enclosed reply card toreceive a complimentary guide of 15 Reasons to Update Your Will.
Gifts and commitments as of December 31, 2009
Facilities $124 million
Faculty $153 million
Programs$241 million
Students$224 million
Total: $742 million
”
If you have any questions about providing support to Iowa State through your IRA, please feel free to contact us at 800.621.8515.
INSIGHTSINSIGHTSA C H A R I T A B L E P L A N N I N G G U I D E F O R I S U A L U M N I A N D F R I E N D S
WINTER 2010
I O W A S T A T E U N I V E R S I T Y F O U N D A T I O N
backyard conversationwith their neighbor and
attorney was all it tookfor Des Moines-area residents Ronand Marla Franklin to finally sit downand work on their estate plans.
“We were at an age where we needed
a will,” says Marla, who is retired
from her position as vice president for
human resources at Allied Insurance.
“We had no kids and didn’t want to
spend a lot of money on a will. Our
neighbor at the time said he would
help us, so we took a six pack to the
deck, and in the space of a couple
of hours, we got it wrapped up.”
The Iowa State University
graduates realize that their estate
planning was made easier because
of their personal situation. “Our
neighbor led us through the process,” says
Ron, who retired as a managing director for
the Principal Financial Group. “Basically,
he was picking our brains to learn what
was important to us. He kept asking the
question, ‘What do you want to do with
your assets that will make you feel good?’”
MAKING AN IMPACT THROUGH THEIR WILL Establishing a bequest in a will and
naming the Iowa State University
Foundation as the beneficiary is the
easiest and most popular deferred gift
plan used by Iowa State alumni and
friends. Donors may name the ISU
“Iowa State is involved in numerous
worthwhile projects. It was
important to us to continue
to support the university so
even more can be done.
—Ron Franklin
To learn how you can easily provide support for future ISU students, go to www.foundation.iastate.edu/studentsupport.
A
The ISU Foundation is acknowledged by Iowa State University as the preferred channel for administering trust and estate gifts that benefit the university. This is accomplished by using the name Iowa State University Foundation in your legal documents. Please contact the foundation for additional information.
IOWA STATE UNIVERSITY FOUNDATION
2505 UNIVERSITY BOULEVARD
P.O.BOX 2230AMES, IOWA 50010-2230TOLL-FREE: 800.621.8515www.isugift.org
Share the following suggested wording with your estate planning attorney to add to your will or living trust.
I give, devise and bequeath to the Iowa State University
Foundation, a not-for-profit corporation, existing under
the laws of the State of Iowa, and located at Ames, Iowa,
______ (percent of my estate, dollars, property, securities,
etc.) to be used for ______ (however you wish for your
gift to be used) at Iowa State University.
>> HOW TO REMEMBER IOWA STATEUNIVERSITY IN YOUR WILL
OUR MISSION
Iowa State University works
to create, share and apply
knowledge to make Iowa and
the world a better place. The
Iowa State University Foundation
is a private non-profit organization
dedicated to securing and stewarding
private gifts and grants that benefit
Iowa State University. Each year,
thousands of generous benefactors
make gifts to show their
support for Iowa State.
ACTION LIST PLANNING MEASURES YOU CAN TAKE TODAY
Although your IRA may have taken a hit recently, it likely remains one of your biggest assets. Whilethis plan is a good solution forretirement, it is not a great optionfor passing on an inheritance.
The reason? IRAs and other
retirement assets are taxable
income when received by
individual beneficiaries —
therefore, the funds are
exposed to income taxes.
A CHARITABLE SOLUTIONIf you’ve thought about making a gift
to the Iowa State University Foundation,
consider giving IRA assets to us and
giving other assets that are not as heavily
taxed to family members. As a nonprofit
organization, Iowa State is tax-exempt, so
we can use 100 percent of your IRA. To
start the process:
> Contact your IRA administrator
for a change of beneficiary form.
> Name us and the gift percentage
on the form.
> Return the form to your IRA administrator.
YOUR IRA:The Unwanted Inheritance
Send back the enclosed reply card to receive a complimentarycopy of 15 Reasons to Update Your Will.
Visit www.isugift.org to learn more about including theIowa State University Foundation in your will.
Contact us at 800.621.8515 to learn more about topics covered in this newsletter or another topic that interests you.
IN THIS ISSUE• How to Remember
Iowa State in Your Will: 3 Easy Decisions to Make
• Write a Check? Savvy People Think Twice
• Your IRA: The UnwantedInheritance
• Total Support to Campaign Iowa State
©2010 Iowa State University Foundation and The Stelter CompanyThe information in this publication is not intended as legal advice. For legal advice, please consult an attorney. Figures cited in examples are for hypothetical purposes only and are subject to change. References to income tax apply to federal taxes only. Federal estate tax, state income/estate taxes or state law may impact your results.
RON AND MARLA FRANKLIN: DISCOVERING THE POWER OF A PLAN
Continued Inside
TOTAL SUPPORT TOCAMPAIGN IOWA STATE>> STUDENT SUPPORT - $235 MILLION GOAL
An additional 640 scholarships for Iowa State undergraduate and graduate students have been established duringCampaign Iowa State.
>> FACULTY SUPPORT - $215 MILLION GOALSince Campaign Iowa State commenced, 62 endowed facultypositions have been created.
>> PROGRAM SUPPORT - $195 MILLION GOALCampaign Iowa State’s goal has been surpassed but additionalprogrammatic support is needed throughout campus.
>> FACILITIES SUPPORT - $155 MILLION GOALFifteen campus facilities have been constructed or renovatedduring Campaign Iowa State.
YOUR PLAN FOR SUCCESSAs life changes, so should your will. Make sure your will matches yourintentions by keeping it current. Send back the enclosed reply card toreceive a complimentary guide of 15 Reasons to Update Your Will.
Gifts and commitments as of December 31, 2009
Facilities $124 million
Faculty $153 million
Programs$241 million
Students$224 million
Total: $742 million
□ Please send me the COMPLIMENTARY guide 15 Reasonsto Update Your Will.
□ I’d like more information about estate and gift planning.
□ I’ve included Iowa State University Foundation in my
estate plans (and haven’t previously notified you).
Thank you for supporting our important mission!
Name(s)—Please print.
Telephone E-mail
Address
City, State ZIP
We respect your privacy! Information collected here will be kept strictly confidential.It will not be sold, rented, loaned or otherwise disclosed, and it will not be used inways to which you have not consented.
YOUR WILL IS A VOICE THAT WILL EXTEND THROUGH TIME. WHAT WILL YOURS SAY?
I O W A S T A T E U N I V E R S I T Y F O U N D A T I O N