Growing With Giving

Chappells Like any good Iowa farm boy, Gene Chappell grew up with values such as lending a helping hand and working to better the community.

"I lived right by a curve in the road. I remember spending a lot of time at that corner helping those who jumped the curve, got stuck in the snow, or needed any kind of assistance," he said. "I'd always feel better after helping someone. I'd return to the house and say, ‘Well, I've done my good deed for today.'"

Even now, Chappell, and his wife, Beth, continue to fulfill their good duty for the day quota. For the past 18 years, the Chappells have stocked up on oranges, grapefruits and orange juice to bring to family and friends. "We always freeze about 18 gallons of orange juice but end up keeping only four gallons for ourselves," said Chappell.

It's no surprise their attitude of giving extends to their relationship with Iowa State University.

Chappell's first experience with Iowa State was in 1942. Bankers Life Company of Iowa, now Principal Financial Group, sponsored a six-week summer course at Iowa State University for a 4-H delegate from every county in the state – all expenses paid. Chappell, the lucky representative from Adams County, finished the course with a thirst for knowledge and a passion for Iowa State. "I looked forward to returning to Iowa State after I finished my years in the service," said Chappell.

As a full-time student, Chappell made great use of his experience at Iowa State, simply stating, "I have a lot of good memories." He was the secretary of the Agriculture Economics Club and served on the Ag Econ VEISHEA committee. "I remember staying up all night to get a good spot in the parade."

Those good memories led to a desire to give back. The Chappells started giving to Iowa State in the 1970s and continued through the years with consistent and modest gifts. When it came time to evaluate their financial plan for the future, they knew exactly where to turn.

Chappell wanted to find a way to give back that mattered personally to him while also helping others. When looking into gift vehicles, it became apparent that in order to leave a legacy and stay financially savvy, their best option was the charitable gift annuity.

"There are great things about this gift structure, but the best part is obviously the income!" he said. "The process of establishing a planned gift was very simple. Plus, we already had contacts with the university through our previous giving experiences."

With their CGA in place, Chappell truly completes the circle of giving that has always been such an important factor in his life. The remainder of the couple's gift annuity will support the 4-H program through Iowa State University Extension – paying homage to the generous donation that got Chappell to Iowa State in the first place.

Seeing Is Believing

To see how you can benefit from a charitable gift annuity, visit our website to calculate your benefits today. Contact the Office of Gift Planning at 800.621.8515 or giftplanning@foundation.iastate.edu to learn more about ways to extend your impact at Iowa State.

“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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