An Adventure Created Outside the Classroom

Christopher and Christian Hernandez

With support from faculty, the campus community and scholarships, sophomores Christopher and Christian Hernandez are on track for success at Iowa State.

"I chose to major in industrial engineering because of Dr. Richard Stone," said Christian Hernandez. The same goes for his twin brother, Christopher, who is also a sophomore at Iowa State.

The two spent the summer before their freshman year meeting professors, getting to know their future classmates and becoming acquainted with campus as part of APEX, a summer bridge program for incoming multicultural students. "I met Dr. Stone while touring his lab as part of the program. I instantly fell in love with his research, energy and love for the job," said Christian. "My brother and I then went to talk to him over the summer, and after a lengthy conversation, we both declared our majors as industrial engineering."

Only in their second year, the Hernandez brothers understand that it’s not only the top-notch classes at Iowa State that make it a great place to be.

"What I like best about being a Cyclone is the support group," said Christopher. "The faculty, my friends and Multicultural Student Affairs have all really made me feel at home. I love the endless opportunities Iowa State has to offer, such as research, studying abroad, student organizations and so much more." With more opportunities and programs being added each year, there’s no limit to what students can accomplish.

"Hard work does pay off, and as long as you put forth your full effort and set your mind on something, you can achieve anything you desire," said Christopher.

However, the focus and time needed to dive into everything at Iowa State is easier to come by with the right support.

"Receiving scholarship support has reduced a lot of the stress and worry that comes with paying for a college education," said Christian. "I feel as though I can now truly focus on my academics, research and the committees I am involved in."

“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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