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Estate Gift Planning

Endowed Gifts - The financial cornerstone of Central College

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A strong endowment ensures that there is an enduring source of funding for immediate and future needs. Endowments grow over time to create a legacy of learning as they extend the impact of your generosity beyond a lifetime.

Endowment basics

The principal is invested and a portion of the fund's value is made available each year to support the purpose determined by the donor. Many donors elect to name endowments in honor of a family member, life-changing professors or mentors, to preserve the name of their family or create a personal Central College legacy.

Endowments can be created with gifts of cash, securities, and other assets. They can be established through one-time gifts, estate gifts, and multiyear pledges. Although the minimum amount required to create an endowment fund is $25,000 larger amounts are recommended or required for certain purposes. Gifts at these levels may offer donors naming opportunities. All gifts at the minimum endowment level, as well as cumulative lifetime giving of $10,000 or more, qualify donors for recognition as members of the Cornerstone Society.

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Learn How to Fund It

You can create an endowed gift using the following assets:

  1. Seek the advice of your financial or legal advisor.
  2. Contact Doyle Monsma, CFRE at 641-628-5181 or monsmad@central.edu to discuss endowed gifts.
  3. If you include Central College in your plans, please use our legal name and federal tax ID.

Legal name: Central College
Located in: 812 University St., Pella, IA 50219
Federal tax ID number: Please contact us for our federal tax ID number.

Ready to start paying it forward? View and download your FREE copy of Endowments: A Gift That Lasts Forever.

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Ensure Your Future Is Secure.

Download our FREE Personal Estate Planning Kit

A charitable bequest is one or two sentences in your will or living trust that leave to Central College 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 Central College [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 Central College 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 gift 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 receive an immediate federal income tax charitable deduction. 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 Central College as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 Central College 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 Central College where you agree to make a gift to Central College 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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