I NSIGHT S 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 aybe it’s because his youngest daughter, Karen, shares his interest in civil engineering. Perhaps it’s because he has “been around talented women all my life.” For all these reasons and more, Noel Willis is supporting women majoring in engineering with the establishment of the Karen Allen Scholarship in honor of his daughter Karen (civil engineering ’79) through a gift in his will to Iowa State University. Naming the Iowa State University Foundation in one’s will is among the easiest and most popular deferred gift plans used by Iowa State alumni and friends. Learn more about this option inside this issue. LIKE FATHER, LIKE DAUGHTER Noel is a 1946 civil engineering graduate of Iowa State and participated in the V-12 Navy College Training Program on campus Discover the many ways you can help future ISU students: www.foundation.iastate.edu/studentsupport IN THIS ISSUE • Important tax law changes for 2011 • Q&A: How to support ISU with your will • Campaign update • Special giving opportunity: Make tax-free gifts from your IRA in 2011 KAREN ALLEN SCHOLARSHIP HELPS WOMEN IN ENGINEERING Continued on page 4 1 M I NSIGHT S “Iowa State is a wonderful school, and I’m delighted I can help young women become engineers through this scholarship.” — Noel Willis ’46 A CHARITABLE PLANNING GUIDE FOR ISU ALUMNI AND FRIENDS WINTER 2011
Transcript
INSIGHTSI 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
aybe it’s because his youngest daughter, Karen, shares his
interest in civil engineering. Perhaps it’s because he has “been around talented women all my life.”
For all these reasons and
more, Noel Willis is supporting
women majoring in engineering
with the establishment of the Karen
Allen Scholarship in honor of his
daughter Karen (civil engineering ’79)
through a gift in his will to Iowa
State University.
Naming the Iowa State University
Foundation in one’s will is among the
easiest and most popular deferred
gift plans used by Iowa State alumni
and friends. Learn more about this option
inside this issue.
LIKE FATHER, LIKE DAUGHTERNoel is a 1946 civil engineering graduate of
Iowa State and participated in the V-12 Navy
College Training Program on campus
Discover the many ways you can help future ISU students: www.foundation.iastate.edu/studentsupport
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.
Share the following language 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.
If you’re looking for the most tax-effective gift to make to Iowa State, Congress recently extended a law that allows individuals aged 70½ or older to make tax-free gifts today using funds transferred directly from their IRAs to qualified charitable organizations such as the ISU Foundation. You can transfer any amount up to $100,000 through the end of 2011.
>> HOW TO REMEMBER IOWA STATE UNIVERSITY IN YOUR WILL IN THIS ISSUE
The 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 estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.
KAREN ALLEN SCHOLARSHIP HELPS WOMEN IN ENGINEERING
MAKE TAX-FREE GIFTS FROM YOUR IRA!
Continued on page 4
1
M
INSIGHTSaking a gift to the ISU Foundation in your will, known as a bequest, is the
most enduring statement you can make about your belief in our mission. Here you will learn how easy it is to extend the support you have offered throughout your lifetime for years to come.
I want to remember Iowa State in my will; how do I
accomplish this?
The process of making a provision in your will for the
ISU Foundation is simple. You can include a charitable bequest when you create your will, or you may add or update a bequest later with a codicil, a formal amendment to your will.
With a bequest, you can give away property, securities or real estate without worrying about whether you will need those assets, because the giving of them won’t actually take place until after your lifetime.
Q&A: SUPPORTING ISU THROUGH A GIFT IN YOUR WILL
What are the benefits of making a bequest?
Bequests are:•Easy. A few sentences in your
will or living trust complete the gift.•�Revocable. Until your will or trust goes into effect, you are free to alter your plans.
•�Versatile. You can bequeath a specific item, an amount of money, a gift contingent upon certain events or, most commonly, a percentage of your estate.
How do I put a bequest in place?
Take these three simple steps:•Decide what amount or
percentage you want to give. •�Take our official bequest language (found at the bottom of the next page in this newsletter) to your estate planning attorney to add to your will.
•�Notify us of your intention, if you would like (we will honor your preferences regarding anonymity), so our staff can thank you for your future gift and keep you informed of our ongoing activities.
M
>> If you have already included the ISU Foundation in your estate plans, please let us know using your reply card.
“ Iowa State is a wonderful school, and I’m delighted I can help young women become engineers through this scholarship.”
— Noel Willis ’46
TOTAL SUPPORT TO CAMPAIGN IOWA STATE>> STUDENT SUPPORT – $235 MILLION GOAL
An additional 700 scholarships for Iowa State undergraduate and graduate students have been established during Campaign Iowa State.
>> FACULTY SUPPORT – $215 MILLION GOALSince Campaign Iowa State commenced, 76 endowed faculty positions have been created.
>> PROGRAM SUPPORT – $195 MILLION GOALCampaign Iowa State’s goal has been surpassed, but additional programmatic support is still needed throughout campus.
>> FACILITIES SUPPORT – $155 MILLION GOALFifteen campus facilities have been constructed or renovated during Campaign Iowa State.
Gifts and commitments as of Dec. 31, 2010
Facilities$133 million
Faculty $173 million
Programs$264 million
Students$250 million
Total: $820 millionQ
Q
Q
LEARN MORE ABOUT YOUR BENEFITSDon’t let this tax-wise opportunity pass you by. To learn more or to make a gift, contact us. We look forward to hearing from you.
A 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 2011
DOES YOUR WILL ADDRESS YOUR SITUATION?Our complimentary guide, Your Will: Uniquely You, shows you how to address your specific needs and goals, whether you are single or remarried, have grandchildren or a child with a disability, or intend to make charitable gifts. Return the enclosed reply card or e-mail [email protected] to receive your copy today!
up basis. In 2011 and 2012, beneficiaries inherit assets with the more favorable stepped-up cost basis.
• For those who die in 2011 and 2012, the basic exclusion amount remains at $5 million. Therefore, every dollar above the $5 million exclusion amount will be subject to federal estate taxes at death at a maximum rate of 35 percent. For married couples who both die during these two years, if the first spouse to pass had any unused exclusion amount, the couple may be able to pass a combined estate worth up to $10 million free of
□ Do you have a will or living trust drafted by a qualified estate planning attorney?
□ Do you review and update your will every few years?
□ Have you named an executor in your will and notified that person?
□ Is your life insurance adequate for you and your family’s needs? Are the beneficiary designations up to date?
□ Does your will name a guardian for any dependents you may have?
□ Have you established a durable power of attorney in case you become incapacitated?
□ Do you have a living will or health care power of attorney?
□ Have you made any provisions for your favorite charitable organizations?
• In 2010, federal estate taxes were originally repealed, meaning that for individuals who died in 2010, regardless of their wealth, their estates wouldn’t have paid a penny of federal estate taxes. Also, in general, assets inherited in 2010 were at a carryover basis that is inherited at the same cost basis that the deceased had originally paid for the assets. But with recent changes by Congress, the estate tax was reinstated for 2010 with a $5 million basic exclusion amount,
t Iowa State University, the beginning of a new year means the start of another
semester. With proper planning, students can prepare for the months ahead and get the most from their new classes. For the rest of America, 2011 means changes to federal taxes, specifically estate taxes. And with proper planning, you can get the most out of your estate plans.
As of Jan. 1, 2011, federal estate tax laws have undergone major adjustments. The most notable is the reinstatement of the estate tax at the $5 million level. Check out the “Quick Reference Guide” below to learn more about what changed this year.
WHAT THIS MEANS FOR YOUMost of us know that we need an estate plan to determine how and from whom
during World War II. Now a resident
of Sun City West, Ariz., he is the retired
president of NNW-INC., an engineering
consulting firm in Iowa City. Noel also spent
30 years as an adjunct faculty member at the
University of Iowa. It was during this time
that he noticed the increasing number of
women interested in the engineering field.
Noel speaks proudly of the
accomplishments of all four of his
children, including Iowa State graduates
Craig (aerospace engineering ’71) of
Iowa City and Nancy Keyes (landscape
architecture ’75) of Westport, Conn.
It was Karen, however, whom Noel
wanted to honor with his scholarship, in
part because of their shared interest in
civil engineering. For Karen, that interest
developed at a young age. “When Karen
was a teenager, she wanted to go inspect
bridges with me,” Noel recalls. “I soon
learned I could send her underneath a
bridge and she could see a
broken tile or a crack in the
abutment. She was a natural
born engineer.” Today, Karen
lives in Minneapolis, Minn.,
where she works for HNTB,
a firm providing architecture,
engineering, planning and
construction services.
LOOKING TO THE FUTURENoel hopes that the Karen Allen
Scholarship will assist other women
in their engineering careers. “I just
think there are young women out there
who can be fine engineers just like
Karen,” he says.
“Iowa State is a wonderful school,
and I’m delighted I can help young
women become engineers through
this scholarship.”
Continued from page 1
NEW YEAR, NEW TAX LAWS
QUICK REFERENCE GUIDE: MAJOR FEDERAL TAX LAW CHANGES
In-state tuition has increased more than 150 percent during the past two
decades, and the average debt load for graduates continues
to rise. Additional financial assistance — and
merit-based scholarships are essential to give Iowa State a competitive edge in
recruiting high-achieving students. Call 800.621.8515 to learn how you can help.
KAREN ALLEN SCHOLARSHIP HELPS WOMEN IN ENGINEERING
our assets will be distributed after we are gone. Also, we know that without a valid will, we are leaving it up to the state to determine who receives the majority of our assets and belongings. Now, with the estate tax threshold temporarily raised to the $5 million level, for many of us, estate tax planning won’t seem so necessary in the short term. The important part is deciding how our estates will be disbursed.
YOUR NEXT STEPSReview your plans with your estate planning attorney as soon as possible to determine if any part of your plan needs updated for the new laws. If an update is advised, consider including a gift to the ISU Foundation. Contact us at 800.621.8515 or [email protected] to learn about your options.
AALEX PRIEST
a 35 percent maximum tax rate, and the more favorable stepped-up cost basis (a cost basis equal to the fair market value as of the date of the deceased’s death or, in some cases, six months later) for inheritors.
• Executors of 2010 estates have the choice of using the $5 million estate tax exclusion structure or the repeal of estate tax. The catch is that estates that use the repealed tax have the less favorable tax structure for inheritors in that they receive assets with a carryover cost basis, not a stepped-
federal estate taxes (commonly called a portability provision). In 2013, the basic exclusion amount will drop to $1 million and portability between spouses ends, unless Congress makes further changes.
• The exemption level for generation-skipping transfer taxes is also $5 million, with a federal tax rate of 35 percent. This means that if you leave more than $5 million in property to a grandchild or anyone two or more generations younger than you, your gift will incur an additional tax.
This $5 million exemption is only applicable in 2011 and 2012.
• The top gift tax rate is 35 percent with a $5 million exclusion amount unified with the estate tax exemption. The annual gift tax exclusion — the amount you can give to anyone gift tax–free each year — will remain at $13,000 in 2011 ($26,000 for married couples).
• Income and capital gains tax rates will remain the same for individual taxpayers in 2011 and 2012.
MORE ESTATE PLANNING CHECKUPS
GIFT IMPACT
“ The King Scholarship has given me such an invaluable opportunity to explore, research, learn and contemplate. It has helped me understand who I am and who I want to be for the rest of my life.”
Alex Priest, SeniorLandscape ArchitectureEmmetsburg, Iowa Recipient of the Barbara King Scholarship for Innovation and Entrepreneurship
Alex used the King Scholarship to pursue research on the relationship between architecture and fashion. He toured 20 European cities, visiting museums, stores and other sites where he could observe how culture is expressed through design.
THANK YOU FOR YOUR SUPPORT!Your gift, large or small, helps the students, faculty and staff of Iowa
State University.Even if your estate is below the $5 million tax threshold,
reviewing your estate plans for other changes is still important to
ensure your intentions are fulfilled.
Flip this newsletter over to learn how you can include ISU in your will.
Noel Willis with his daughter, Karen
up basis. In 2011 and 2012, beneficiaries inherit assets with the more favorable stepped-up cost basis.
• For those who die in 2011 and 2012, the basic exclusion amount remains at $5 million. Therefore, every dollar above the $5 million exclusion amount will be subject to federal estate taxes at death at a maximum rate of 35 percent. For married couples who both die during these two years, if the first spouse to pass had any unused exclusion amount, the couple may be able to pass a combined estate worth up to $10 million free of
□ Do you have a will or living trust drafted by a qualified estate planning attorney?
□ Do you review and update your will every few years?
□ Have you named an executor in your will and notified that person?
□ Is your life insurance adequate for you and your family’s needs? Are the beneficiary designations up to date?
□ Does your will name a guardian for any dependents you may have?
□ Have you established a durable power of attorney in case you become incapacitated?
□ Do you have a living will or health care power of attorney?
□ Have you made any provisions for your favorite charitable organizations?
• In 2010, federal estate taxes were originally repealed, meaning that for individuals who died in 2010, regardless of their wealth, their estates wouldn’t have paid a penny of federal estate taxes. Also, in general, assets inherited in 2010 were at a carryover basis that is inherited at the same cost basis that the deceased had originally paid for the assets. But with recent changes by Congress, the estate tax was reinstated for 2010 with a $5 million basic exclusion amount,
t Iowa State University, the beginning of a new year means the start of another
semester. With proper planning, students can prepare for the months ahead and get the most from their new classes. For the rest of America, 2011 means changes to federal taxes, specifically estate taxes. And with proper planning, you can get the most out of your estate plans.
As of Jan. 1, 2011, federal estate tax laws have undergone major adjustments. The most notable is the reinstatement of the estate tax at the $5 million level. Check out the “Quick Reference Guide” below to learn more about what changed this year.
WHAT THIS MEANS FOR YOUMost of us know that we need an estate plan to determine how and from whom
during World War II. Now a resident
of Sun City West, Ariz., he is the retired
president of NNW-INC., an engineering
consulting firm in Iowa City. Noel also spent
30 years as an adjunct faculty member at the
University of Iowa. It was during this time
that he noticed the increasing number of
women interested in the engineering field.
Noel speaks proudly of the
accomplishments of all four of his
children, including Iowa State graduates
Craig (aerospace engineering ’71) of
Iowa City and Nancy Keyes (landscape
architecture ’75) of Westport, Conn.
It was Karen, however, whom Noel
wanted to honor with his scholarship, in
part because of their shared interest in
civil engineering. For Karen, that interest
developed at a young age. “When Karen
was a teenager, she wanted to go inspect
bridges with me,” Noel recalls. “I soon
learned I could send her underneath a
bridge and she could see a
broken tile or a crack in the
abutment. She was a natural
born engineer.” Today, Karen
lives in Minneapolis, Minn.,
where she works for HNTB,
a firm providing architecture,
engineering, planning and
construction services.
LOOKING TO THE FUTURENoel hopes that the Karen Allen
Scholarship will assist other women
in their engineering careers. “I just
think there are young women out there
who can be fine engineers just like
Karen,” he says.
“Iowa State is a wonderful school,
and I’m delighted I can help young
women become engineers through
this scholarship.”
Continued from page 1
NEW YEAR, NEW TAX LAWS
QUICK REFERENCE GUIDE: MAJOR FEDERAL TAX LAW CHANGES
In-state tuition has increased more than 150 percent during the past two
decades, and the average debt load for graduates continues
to rise. Additional financial assistance — and
merit-based scholarships are essential to give Iowa State a competitive edge in
recruiting high-achieving students. Call 800.621.8515 to learn how you can help.
KAREN ALLEN SCHOLARSHIP HELPS WOMEN IN ENGINEERING
our assets will be distributed after we are gone. Also, we know that without a valid will, we are leaving it up to the state to determine who receives the majority of our assets and belongings. Now, with the estate tax threshold temporarily raised to the $5 million level, for many of us, estate tax planning won’t seem so necessary in the short term. The important part is deciding how our estates will be disbursed.
YOUR NEXT STEPSReview your plans with your estate planning attorney as soon as possible to determine if any part of your plan needs updated for the new laws. If an update is advised, consider including a gift to the ISU Foundation. Contact us at 800.621.8515 or [email protected] to learn about your options.
AALEX PRIEST
a 35 percent maximum tax rate, and the more favorable stepped-up cost basis (a cost basis equal to the fair market value as of the date of the deceased’s death or, in some cases, six months later) for inheritors.
• Executors of 2010 estates have the choice of using the $5 million estate tax exclusion structure or the repeal of estate tax. The catch is that estates that use the repealed tax have the less favorable tax structure for inheritors in that they receive assets with a carryover cost basis, not a stepped-
federal estate taxes (commonly called a portability provision). In 2013, the basic exclusion amount will drop to $1 million and portability between spouses ends, unless Congress makes further changes.
• The exemption level for generation-skipping transfer taxes is also $5 million, with a federal tax rate of 35 percent. This means that if you leave more than $5 million in property to a grandchild or anyone two or more generations younger than you, your gift will incur an additional tax.
This $5 million exemption is only applicable in 2011 and 2012.
• The top gift tax rate is 35 percent with a $5 million exclusion amount unified with the estate tax exemption. The annual gift tax exclusion — the amount you can give to anyone gift tax–free each year — will remain at $13,000 in 2011 ($26,000 for married couples).
• Income and capital gains tax rates will remain the same for individual taxpayers in 2011 and 2012.
MORE ESTATE PLANNING CHECKUPS
GIFT IMPACT
“ The King Scholarship has given me such an invaluable opportunity to explore, research, learn and contemplate. It has helped me understand who I am and who I want to be for the rest of my life.”
Alex Priest, SeniorLandscape ArchitectureEmmetsburg, Iowa Recipient of the Barbara King Scholarship for Innovation and Entrepreneurship
Alex used the King Scholarship to pursue research on the relationship between architecture and fashion. He toured 20 European cities, visiting museums, stores and other sites where he could observe how culture is expressed through design.
THANK YOU FOR YOUR SUPPORT!Your gift, large or small, helps the students, faculty and staff of Iowa
State University.Even if your estate is below the $5 million tax threshold,
reviewing your estate plans for other changes is still important to
ensure your intentions are fulfilled.
Flip this newsletter over to learn how you can include ISU in your will.
Noel Willis with his daughter, Karen
up basis. In 2011 and 2012, beneficiaries inherit assets with the more favorable stepped-up cost basis.
• For those who die in 2011 and 2012, the basic exclusion amount remains at $5 million. Therefore, every dollar above the $5 million exclusion amount will be subject to federal estate taxes at death at a maximum rate of 35 percent. For married couples who both die during these two years, if the first spouse to pass had any unused exclusion amount, the couple may be able to pass a combined estate worth up to $10 million free of
□ Do you have a will or living trust drafted by a qualified estate planning attorney?
□ Do you review and update your will every few years?
□ Have you named an executor in your will and notified that person?
□ Is your life insurance adequate for you and your family’s needs? Are the beneficiary designations up to date?
□ Does your will name a guardian for any dependents you may have?
□ Have you established a durable power of attorney in case you become incapacitated?
□ Do you have a living will or health care power of attorney?
□ Have you made any provisions for your favorite charitable organizations?
• In 2010, federal estate taxes were originally repealed, meaning that for individuals who died in 2010, regardless of their wealth, their estates wouldn’t have paid a penny of federal estate taxes. Also, in general, assets inherited in 2010 were at a carryover basis that is inherited at the same cost basis that the deceased had originally paid for the assets. But with recent changes by Congress, the estate tax was reinstated for 2010 with a $5 million basic exclusion amount,
t Iowa State University, the beginning of a new year means the start of another
semester. With proper planning, students can prepare for the months ahead and get the most from their new classes. For the rest of America, 2011 means changes to federal taxes, specifically estate taxes. And with proper planning, you can get the most out of your estate plans.
As of Jan. 1, 2011, federal estate tax laws have undergone major adjustments. The most notable is the reinstatement of the estate tax at the $5 million level. Check out the “Quick Reference Guide” below to learn more about what changed this year.
WHAT THIS MEANS FOR YOUMost of us know that we need an estate plan to determine how and from whom
during World War II. Now a resident
of Sun City West, Ariz., he is the retired
president of NNW-INC., an engineering
consulting firm in Iowa City. Noel also spent
30 years as an adjunct faculty member at the
University of Iowa. It was during this time
that he noticed the increasing number of
women interested in the engineering field.
Noel speaks proudly of the
accomplishments of all four of his
children, including Iowa State graduates
Craig (aerospace engineering ’71) of
Iowa City and Nancy Keyes (landscape
architecture ’75) of Westport, Conn.
It was Karen, however, whom Noel
wanted to honor with his scholarship, in
part because of their shared interest in
civil engineering. For Karen, that interest
developed at a young age. “When Karen
was a teenager, she wanted to go inspect
bridges with me,” Noel recalls. “I soon
learned I could send her underneath a
bridge and she could see a
broken tile or a crack in the
abutment. She was a natural
born engineer.” Today, Karen
lives in Minneapolis, Minn.,
where she works for HNTB,
a firm providing architecture,
engineering, planning and
construction services.
LOOKING TO THE FUTURENoel hopes that the Karen Allen
Scholarship will assist other women
in their engineering careers. “I just
think there are young women out there
who can be fine engineers just like
Karen,” he says.
“Iowa State is a wonderful school,
and I’m delighted I can help young
women become engineers through
this scholarship.”
Continued from page 1
NEW YEAR, NEW TAX LAWS
QUICK REFERENCE GUIDE: MAJOR FEDERAL TAX LAW CHANGES
In-state tuition has increased more than 150 percent during the past two
decades, and the average debt load for graduates continues
to rise. Additional financial assistance — and
merit-based scholarships are essential to give Iowa State a competitive edge in
recruiting high-achieving students. Call 800.621.8515 to learn how you can help.
KAREN ALLEN SCHOLARSHIP HELPS WOMEN IN ENGINEERING
our assets will be distributed after we are gone. Also, we know that without a valid will, we are leaving it up to the state to determine who receives the majority of our assets and belongings. Now, with the estate tax threshold temporarily raised to the $5 million level, for many of us, estate tax planning won’t seem so necessary in the short term. The important part is deciding how our estates will be disbursed.
YOUR NEXT STEPSReview your plans with your estate planning attorney as soon as possible to determine if any part of your plan needs updated for the new laws. If an update is advised, consider including a gift to the ISU Foundation. Contact us at 800.621.8515 or [email protected] to learn about your options.
AALEX PRIEST
a 35 percent maximum tax rate, and the more favorable stepped-up cost basis (a cost basis equal to the fair market value as of the date of the deceased’s death or, in some cases, six months later) for inheritors.
• Executors of 2010 estates have the choice of using the $5 million estate tax exclusion structure or the repeal of estate tax. The catch is that estates that use the repealed tax have the less favorable tax structure for inheritors in that they receive assets with a carryover cost basis, not a stepped-
federal estate taxes (commonly called a portability provision). In 2013, the basic exclusion amount will drop to $1 million and portability between spouses ends, unless Congress makes further changes.
• The exemption level for generation-skipping transfer taxes is also $5 million, with a federal tax rate of 35 percent. This means that if you leave more than $5 million in property to a grandchild or anyone two or more generations younger than you, your gift will incur an additional tax.
This $5 million exemption is only applicable in 2011 and 2012.
• The top gift tax rate is 35 percent with a $5 million exclusion amount unified with the estate tax exemption. The annual gift tax exclusion — the amount you can give to anyone gift tax–free each year — will remain at $13,000 in 2011 ($26,000 for married couples).
• Income and capital gains tax rates will remain the same for individual taxpayers in 2011 and 2012.
MORE ESTATE PLANNING CHECKUPS
GIFT IMPACT
“ The King Scholarship has given me such an invaluable opportunity to explore, research, learn and contemplate. It has helped me understand who I am and who I want to be for the rest of my life.”
Alex Priest, SeniorLandscape ArchitectureEmmetsburg, Iowa Recipient of the Barbara King Scholarship for Innovation and Entrepreneurship
Alex used the King Scholarship to pursue research on the relationship between architecture and fashion. He toured 20 European cities, visiting museums, stores and other sites where he could observe how culture is expressed through design.
THANK YOU FOR YOUR SUPPORT!Your gift, large or small, helps the students, faculty and staff of Iowa
State University.Even if your estate is below the $5 million tax threshold,
reviewing your estate plans for other changes is still important to
ensure your intentions are fulfilled.
Flip this newsletter over to learn how you can include ISU in your will.
Noel Willis with his daughter, Karen
INSIGHTSI 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
aybe it’s because his youngest daughter, Karen, shares his
interest in civil engineering. Perhaps it’s because he has “been around talented women all my life.”
For all these reasons and
more, Noel Willis is supporting
women majoring in engineering
with the establishment of the Karen
Allen Scholarship in honor of his
daughter Karen (civil engineering ’79)
through a gift in his will to Iowa
State University.
Naming the Iowa State University
Foundation in one’s will is among the
easiest and most popular deferred
gift plans used by Iowa State alumni
and friends. Learn more about this option
inside this issue.
LIKE FATHER, LIKE DAUGHTERNoel is a 1946 civil engineering graduate of
Iowa State and participated in the V-12 Navy
College Training Program on campus
Discover the many ways you can help future ISU students: www.foundation.iastate.edu/studentsupport
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.
Share the following language 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.
If you’re looking for the most tax-effective gift to make to Iowa State, Congress recently extended a law that allows individuals aged 70½ or older to make tax-free gifts today using funds transferred directly from their IRAs to qualified charitable organizations such as the ISU Foundation. You can transfer any amount up to $100,000 through the end of 2011.
>> HOW TO REMEMBER IOWA STATE UNIVERSITY IN YOUR WILL IN THIS ISSUE
The 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 estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.
KAREN ALLEN SCHOLARSHIP HELPS WOMEN IN ENGINEERING
MAKE TAX-FREE GIFTS FROM YOUR IRA!
Continued on page 4
1
M
INSIGHTSaking a gift to the ISU Foundation in your will, known as a bequest, is the
most enduring statement you can make about your belief in our mission. Here you will learn how easy it is to extend the support you have offered throughout your lifetime for years to come.
I want to remember Iowa State in my will; how do I
accomplish this?
The process of making a provision in your will for the
ISU Foundation is simple. You can include a charitable bequest when you create your will, or you may add or update a bequest later with a codicil, a formal amendment to your will.
With a bequest, you can give away property, securities or real estate without worrying about whether you will need those assets, because the giving of them won’t actually take place until after your lifetime.
Q&A: SUPPORTING ISU THROUGH A GIFT IN YOUR WILL
What are the benefits of making a bequest?
Bequests are:•Easy. A few sentences in your
will or living trust complete the gift.•�Revocable. Until your will or trust goes into effect, you are free to alter your plans.
•�Versatile. You can bequeath a specific item, an amount of money, a gift contingent upon certain events or, most commonly, a percentage of your estate.
How do I put a bequest in place?
Take these three simple steps:•Decide what amount or
percentage you want to give. •�Take our official bequest language (found at the bottom of the next page in this newsletter) to your estate planning attorney to add to your will.
•�Notify us of your intention, if you would like (we will honor your preferences regarding anonymity), so our staff can thank you for your future gift and keep you informed of our ongoing activities.
M
>> If you have already included the ISU Foundation in your estate plans, please let us know using your reply card.
“ Iowa State is a wonderful school, and I’m delighted I can help young women become engineers through this scholarship.”
— Noel Willis ’46
TOTAL SUPPORT TO CAMPAIGN IOWA STATE>> STUDENT SUPPORT – $235 MILLION GOAL
An additional 700 scholarships for Iowa State undergraduate and graduate students have been established during Campaign Iowa State.
>> FACULTY SUPPORT – $215 MILLION GOALSince Campaign Iowa State commenced, 76 endowed faculty positions have been created.
>> PROGRAM SUPPORT – $195 MILLION GOALCampaign Iowa State’s goal has been surpassed, but additional programmatic support is still needed throughout campus.
>> FACILITIES SUPPORT – $155 MILLION GOALFifteen campus facilities have been constructed or renovated during Campaign Iowa State.
Gifts and commitments as of Dec. 31, 2010
Facilities$133 million
Faculty $173 million
Programs$264 million
Students$250 million
Total: $820 millionQ
Q
Q
LEARN MORE ABOUT YOUR BENEFITSDon’t let this tax-wise opportunity pass you by. To learn more or to make a gift, contact us. We look forward to hearing from you.
A 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 2011
DOES YOUR WILL ADDRESS YOUR SITUATION?Our complimentary guide, Your Will: Uniquely You, shows you how to address your specific needs and goals, whether you are single or remarried, have grandchildren or a child with a disability, or intend to make charitable gifts. Return the enclosed reply card or e-mail [email protected] to receive your copy today!
INSIGHTSI 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
aybe it’s because his youngest daughter, Karen, shares his
interest in civil engineering. Perhaps it’s because he has “been around talented women all my life.”
For all these reasons and
more, Noel Willis is supporting
women majoring in engineering
with the establishment of the Karen
Allen Scholarship in honor of his
daughter Karen (civil engineering ’79)
through a gift in his will to Iowa
State University.
Naming the Iowa State University
Foundation in one’s will is among the
easiest and most popular deferred
gift plans used by Iowa State alumni
and friends. Learn more about this option
inside this issue.
LIKE FATHER, LIKE DAUGHTERNoel is a 1946 civil engineering graduate of
Iowa State and participated in the V-12 Navy
College Training Program on campus
Discover the many ways you can help future ISU students: www.foundation.iastate.edu/studentsupport
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.
Share the following language 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.
If you’re looking for the most tax-effective gift to make to Iowa State, Congress recently extended a law that allows individuals aged 70½ or older to make tax-free gifts today using funds transferred directly from their IRAs to qualified charitable organizations such as the ISU Foundation. You can transfer any amount up to $100,000 through the end of 2011.
>> HOW TO REMEMBER IOWA STATE UNIVERSITY IN YOUR WILL IN THIS ISSUE
The 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 estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.
KAREN ALLEN SCHOLARSHIP HELPS WOMEN IN ENGINEERING
MAKE TAX-FREE GIFTS FROM YOUR IRA!
Continued on page 4
1
M
INSIGHTSaking a gift to the ISU Foundation in your will, known as a bequest, is the
most enduring statement you can make about your belief in our mission. Here you will learn how easy it is to extend the support you have offered throughout your lifetime for years to come.
I want to remember Iowa State in my will; how do I
accomplish this?
The process of making a provision in your will for the
ISU Foundation is simple. You can include a charitable bequest when you create your will, or you may add or update a bequest later with a codicil, a formal amendment to your will.
With a bequest, you can give away property, securities or real estate without worrying about whether you will need those assets, because the giving of them won’t actually take place until after your lifetime.
Q&A: SUPPORTING ISU THROUGH A GIFT IN YOUR WILL
What are the benefits of making a bequest?
Bequests are:•Easy. A few sentences in your
will or living trust complete the gift.•�Revocable. Until your will or trust goes into effect, you are free to alter your plans.
•�Versatile. You can bequeath a specific item, an amount of money, a gift contingent upon certain events or, most commonly, a percentage of your estate.
How do I put a bequest in place?
Take these three simple steps:•Decide what amount or
percentage you want to give. •�Take our official bequest language (found at the bottom of the next page in this newsletter) to your estate planning attorney to add to your will.
•�Notify us of your intention, if you would like (we will honor your preferences regarding anonymity), so our staff can thank you for your future gift and keep you informed of our ongoing activities.
M
>> If you have already included the ISU Foundation in your estate plans, please let us know using your reply card.
“ Iowa State is a wonderful school, and I’m delighted I can help young women become engineers through this scholarship.”
— Noel Willis ’46
TOTAL SUPPORT TO CAMPAIGN IOWA STATE>> STUDENT SUPPORT – $235 MILLION GOAL
An additional 700 scholarships for Iowa State undergraduate and graduate students have been established during Campaign Iowa State.
>> FACULTY SUPPORT – $215 MILLION GOALSince Campaign Iowa State commenced, 76 endowed faculty positions have been created.
>> PROGRAM SUPPORT – $195 MILLION GOALCampaign Iowa State’s goal has been surpassed, but additional programmatic support is still needed throughout campus.
>> FACILITIES SUPPORT – $155 MILLION GOALFifteen campus facilities have been constructed or renovated during Campaign Iowa State.
Gifts and commitments as of Dec. 31, 2010
Facilities$133 million
Faculty $173 million
Programs$264 million
Students$250 million
Total: $820 millionQ
Q
Q
LEARN MORE ABOUT YOUR BENEFITSDon’t let this tax-wise opportunity pass you by. To learn more or to make a gift, contact us. We look forward to hearing from you.
A 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 2011
DOES YOUR WILL ADDRESS YOUR SITUATION?Our complimentary guide, Your Will: Uniquely You, shows you how to address your specific needs and goals, whether you are single or remarried, have grandchildren or a child with a disability, or intend to make charitable gifts. Return the enclosed reply card or e-mail [email protected] to receive your copy today!
![JOLT: REDUCING&OBJECT&CHURN&web.cs.ucla.edu/~harryxu/courses/295/winter11/slides/295_he_2.pdf · Churn&is&aProblem& 3! A&natural&resultof&abstrac]on&! Common&in&large&componentbased&applicaons&!](https://static.documents.pub/doc/80x56/5e832679f14a8a291b116cae/jolt-reducingobjectchurnwebcsuclaeduharryxucourses295winter11slides295he2pdf.jpg)
