True Spirit: Supporting Cyclones Today and Tomorrow

Jim Victor and David Spalding, Raisbeck Endowed Dean

Jim Victor and David Spalding, Raisbeck Endowed Dean

Like many Iowa State alumni, Jim Victor has no shortage of Cyclone pride. "My experience at Iowa State truly changed my world — it enlightened me, it inspired me and it empowered me," he said.;

"The door was always open to me to participate in university life, especially in areas such as homecoming committees or student/faculty committees," Victor continued. "I counted it up once, how many times I'd participated on campus, and I think it came out to serving in 36 different capacities." These experiences in getting involved changed Victor's outlook. "I came to Iowa State focused on what I could learn, but I left focused on what I could do," he said. "It was transformational."

Victor's penchant for staying involved never wavered. When he's not working as the executive director at Morgan Stanley, he volunteers with Junior Achievement of the Heartland in Davenport, Iowa. He spends his time teaching young people about entrepreneurship — or, in Victor's words, "about free enterprise and how education allows them to take ownership of their financial lives."

"Not many people view entrepreneurship in the way that I do," said Victor. "It's about initiative and creativity. It's about the freedom and opportunity to do something better or make something better, and it affects every one of our jobs at every level."

Imagine, then, the perfect storm of the Forever True, For Iowa State campaign. The College of Business set forth an entrepreneurship initiative as part of its goals, and Victor was one of the first supporters to jump on board. "The focus, the timing — the campaign was just right for me," he said. "And if this is what is needed now, support will create opportunity and take entrepreneurship to the next level."

Victor decided to make a blended gift to Iowa State — one part is a current gift and the other a gift in his will. "I hadn't thought about giving that way before. I knew I would do something as part of my estate, but it's great to be able to help support current needs while I can see the impact."

His gift created the Victor Entrepreneurship Scholarship Fund. "It is important for students to be able to open themselves up to new opportunities, experiences and schools of thought," Victor said. "Their experience at Iowa State should prepare them to be work- and world-ready citizens."

"I wanted to do something significant," he said. "I believe that giving back is part of our purpose in life." The chance to give back to his alma mater is an added bonus. "Talking with others about Iowa State makes you want to be a part of it again - and now by giving back, it almost feels like I am."

Be Part of Iowa State's Future

By joining Jim Victor in supporting Iowa State's future, you can help the university keep education affordable and accessible, and provide opportunities that equip students to become the leaders and critical thinkers that our world needs. Contact the office of gift planning at 800.621.8515 or giftplanning@foundation.iastate.edu to explore smart ways to plan a 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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