A Campus Legend Helps the Next Generation

Frederiksens My favorite memory of Iowa State is when Robert Parks, the university president, invited me to his office to offer me the director of residence position," said Chuck Frederiksen. "He asked me, 'Are you up for it? You're pretty young – can you hang in there?' And I responded, 'You better believe it!'"

Although he received his bachelor's and master's degrees at Iowa State, Frederiksen said it was his position as the director of residence that made up the majority of his time with the university. However, if you would have asked Frederiksen in the 1950s what his life would look like, he'd have given a very different answer. "I really had no idea what to do. My degrees were in zoology and entomology. I was located on the Clark Air Base in the Philippines when I received a letter inviting me to come back to Iowa State to work in housing. At that point, I'd always thought that if I'd return to the university it would be as a professor."

So how could Frederiksen tell he'd stumbled upon what would turn into a lifelong passion? "Really, it came back to my experiences as a student," he said.

The Start of an Adventure
Frederiksen held his first housing position as activities chairman for his residence hall floor during his freshman year. By his senior year, he'd moved up to head resident – now known as the resident advisor. During a graduate student teaching assistantship at Iowa State, he stayed involved in the housing system as the supervisor of head residents in Friley Hall. So stepping into the newly created role of social educational advisor seemed fitting at the time.

Soon, moving up through positions evolved into a career – one Frederiksen spent dedicated to making Iowa State a home away from home for all its students. "I'd spent most of my life in those halls – living there and working there – and they really became a special place for me," he said.

To commemorate years of service to Iowa State and its students, a group of coworkers and previous student employees put together a scholarship fund. The Charles F. Frederiksen Leadership Award Fund was presented to Frederiksen upon his retirement. Recipients are selected based on something dear to Frederiksen's heart: demonstrating leadership in university housing and toward the community.

Making an Impact

As the scholarships were awarded, Frederiksen got to see firsthand the kind of impact it had on students. "It started out pretty small – but what a feeling it was to shake hands with the recipients and their families," he said. "The halls I'd become so familiar with all my life were also the halls of these students, and I wanted to support them."

When it came time to re-assess their estate plan, Frederiksen and his wife, Joanne, looked at what they had to offer and what their priorities were.

"We obviously want to support our family first, and we have otherorganizations that are important to us as well. But we wanted to increase our giving for the scholarship fund," he said. In order to accomplish all their goals, the Frederiksens decided to gift his IRA through a beneficiary designation in support of his scholarship. This structure means their gift won't be received until their estate plan becomes active, making an impact in the future without altering their financial situation today. "This really allowed us to make an impact in the areas that were most important to us, without decreasing what we'd pass on to our children and grandchildren."

With his strategic estate plan, Frederiksen can keep supporting the institution that supported him – and creating generations of campus leaders in the process.

Like the Frederiksens, your simple gift can make a big difference for students. Contact the office of gift planning at 800.621.8515 to learn about flexible and affordable ways to make a meaningful gift.

“I thought about what meant the most to me – outside of my family – and it was obvious that I would give to Iowa State. So I called the office of gift planning and they helped me plan the best course of action.”

- Margaret "Margi" Donaldson

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A charitable bequest is one or two sentences in your will or living trust that leave to Iowa State University 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 give to Iowa State University, a nonprofit corporation currently located at Ames, Iowa, or its successor thereto, ______________* [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 Iowa State 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 Iowa State 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 Iowa State 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 Iowa State where you agree to make a gift to Iowa State 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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