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A Gift of Real Estate Provides Flexibility

Donna Moore

A gift of real estate appealed to Susan Moore, who donated her condo to the UNI Foundation.

Meeting with Susan Moore you get the distinct feeling that she loves her job. Susan has spent her career classifying books and resources so library patrons can find what they need. She developed an interest in library work when she was a student worker in the Rod Library at the University of Northern Iowa.

After earning her bachelor’s degree in political science at UNI in 1982, Susan received a master’s degree in library science from the University of Iowa. That led to a librarian position at the University of Arizona where she also earned a master’s degree in geography. Susan smiles as she says, “Because I lived in Arizona for more than 10 years (1984–96), I could call myself a seminative.”

The seminative returned to her native state of Iowa in 1996 to become a catalog librarian and bibliographer at Rod Library. Recently, Susan was promoted to full professor.

As a former student and employee of 19 years, Susan understands the need to give back financially to UNI. In her estate plans, Susan donated her condominium to the university with the proceeds to be divided between scholarships, Rod Library and unrestricted funds. “I wanted the gifts to be used without many restrictions,” Susan says, “because it is hard to tell what the needs of the campus will be in the future. This allows some flexibility in their use.”

Susan said she saw advertisements for cars to be donated to charity so she thought, “Why not my condo?” She says, “It is my hope the scholarships will allow students to get a great education at UNI without having to incur a large debt. I hope the funds for the Rod Library and the unrestricted funds will allow the university to continue the traditions of excellence in education and student support.”

Like Susan, you have the power to make a difference in a student’s life by creating a scholarship. Contact Jane Halverson at or (319) 273-4665 today to learn more.

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A charitable bequest is one or two sentences in your will or living trust that leave to the University of Northern Iowa Foundation 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

Bequest Language

"I, [name], of [city, state, ZIP],
give, devise and bequeath to the University of Northern Iowa Foundation, an
Iowa nonprofit corporation of Cedar Falls, Iowa, [written amount or percentage
of the estate or description of property] to be used for such purposes as the
Board of Trustees may determine."

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 the UNI Foundation 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 the UNI Foundation 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 the UNI Foundation 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 the UNI Foundation where you agree to make a gift to the UNI Foundation 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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