Recent Grads Make Unprecedented Gift
Five recent graduates made an unprecedented gift to Wartburg College, helping the Class of 2004 raise more money than any senior class in the college's history.
As part of the senior class gift campaign, each student purchased a life insurance policy and made Wartburg both the owner and beneficiary of the policy. They will make premium payments for a number of years, and the cash value and eventual death benefit will ultimately benefit the college. Their commitment, together with cash gifts from 46 percent of the senior class, totaled $193,301, the largest senior class gift in Wartburg's history. Although it will be many years before the college receives the benefit from these gifts, the impact and example set by these five young alumni is significant.
Derek Riley '04
Derek majored in computer science and mathematics and minored in engineering science. He is originally from Onalaska, WI, and completed an internship with NASA in California last summer. After the internship, he enrolled at Vanderbilt University, where he's pursuing a master's degree in computer science. His favorite memories of Wartburg College are his "great friends and involved professors."
Ben Shanno '04
Green Bay, WI
Ben is originally from Council Bluffs, Iowa. He was the first in his family to attend Wartburg, and his parents enjoyed his experience almost as much as he did. They attended the Outfly gathering in Omaha, NE, after he graduated. "That says something very positive about Wartburg," Ben says. As a student, Ben played on the golf team and worked on the Trumpet staff, serving as editor-in-chief his junior year. He also worked in the sports information department, reporting and photographing Wartburg athletics. He considers the friendships he made to be the most significant benefit of his Wartburg experience. Ben is now employed by ShopKO corporate offices.
Zac Henrich '04
Originally from Pierson, Iowa, Zac majored in business administration with emphases in marketing and management. He served as student manager for the Knightcallers, a student organization that raises funds for Wartburg. His lasting impressions from college include "crazy nights spent with great friends." Another memory he'll cherish is being a member of the back-to-back national championship wrestling teams. Zac is employed by RuffaloCODY in Cedar Rapids, Iowa, as a program manager. Among his duties, he works with approximately 20 colleges on annual fund programs and senior class challenges.
Dia Dohlman '04
La Crosse, WI
Dia, a native of Eldora, Iowa, majored in fitness management and was recognized four times as First Team All-Conference in volleyball. She distinguished herself as the first-ever Wartburg volleyball player to receive All-American honors. Dia was a three-time Iowa Conference champion and four-time All-American in track and field, and two-time national champion in the javelin. She also competed in the U.S. Olympic Trials in Sacramento, CA, last summer. Her favorite memory of Wartburg is how close the volleyball team came to competing in the national NCAA Division III championships. She is now a graduate student at the University of Wisconsin-La Crosse, where she is pursuing a Master of Science degree in the physical sciences. She is also an assistant volleyball and track coach.
Brian Doyle '04
Brian is one of nine Doyle grandchildren to graduate from Wartburg. Originally from Manchester, Iowa, he was a member of the 2002 Wartburg wrestling team, which placed second in the nation. He also served as student coach on the national championship wrestling team the following season. Brian is an avid Iowa Hawkeyes and Wartburg Knights fan. He currently works as a financial representative with Northwestern Financial Network.
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 Wartburg 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
The bequest language for Wartburg College is "I [name], of [city, state ZIP], give, devise and bequeath to Wartburg College, Waverly, Iowa, [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 Wartburg 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 Wartburg 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 Wartburg 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 Wartburg College where you agree to make a gift to Wartburg 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.