Young alumni Justin and Amanda Fletcher designated Central College as the beneficiary of a percentage of their retirement funds as part of their wills.
Justin '02 and Amanda Hansen '00 Fletcher didn't wait until decades after graduation before beginning their giving to Central College. Their commitment continues with a planned gift.
"Amanda and I both had a great experience at Central, and we want to help ensure the future prosperity of Central and give to support the next generation," said Justin. "At the end of my life, I don't expect to have million dollars in my checking account, but I am happy that I can donate part of that future value to a place I love."
Central College was the start of Justin and Amanda's future together. It is where the couple met and became engaged. It was home for four years, and the place where friendships and memories were created that will last forever.
Amanda began her career as a fund raiser for Wesley Retirement Services in Des Moines and also raised funds for Mercy Medical Center-Des Moines. Justin works as an investment accounting supervisor for EMC Insurance Companies.
"I believe there is a big misconception that you do not need a will until you get older, and you do not need to think about what you want to do for those organizations that are important to you," said Amanda. "But the reality is, it is never too early. Things happen. If I am not here tomorrow, I want to be sure my family is taken care of. And since we consider Central College to be a part of our 'family,' we wanted to be sure Central was taken care of, too."
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 examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. 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. 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. 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 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 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 Central College 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 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.