Luther College

An Iowa College in the Liberal Arts Tradition

Heritage Club

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Like our namesake, Martin Luther, we believe education makes creation flourish. There are many worthy institutions to support, and they all depend on having what Luther described as "able, learned, wise, honorable, and well-educated citizens."

Education, therefore, is the foundation, and an education infused with faith, values, and the richness of community best prepares students for lives of purpose and meaning.

Luther College's mission is to light a path for student to help them discover the gifts God has given them and how they might use those gifts in service to the world. The path is always moving forward, from our lives to the lives of those who follow, guiding students we will never know and making creation flourish in ways we could never imagine.

The Luther College Heritage Club, currently more than 1,000 members strong, is an association of persons with a vision and the inclination to light a path for future Luther students, ensuring future generations will benefit and be transformed by an education grounded in the light of faith.

We invite you to join this association and affirm the dream of future Luther students. All individuals and couples who have established a planned gift for Luther College qualify for membership in the Heritage Club. There is no minimum amount required for a planned gift.

Your future planned gift may be directed to the "area of greatest need" as determined at the time by the Board of Regents, or you may wish to designate your gift today for a favorite program, scholarship fund, or another endowed fund of your choice. Thank you for your thoughtful consideration of this gift request.

 

A charitable bequest is one or two sentences in your will or living trust that leave to Luther 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 Luther 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 Luther 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 Luther 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 Luther 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 Luther College where you agree to make a gift to Luther 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.