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Alum Continues Family Tradition of Giving

Marty Gilson

Marty Gilson attended a recent scholarship luncheon where he learned about current UNI life from student Jordan Lough.

"UNI holds a special place in my heart," says Marty Gilson,'73, '76. "Not only did it prepare me for my career, I met my wife, Myral, when I was a junior and she was a sophomore. We married a year later."

"I attended UNI with the help of the G.I. Bill," Marty explains. "It helped take financial pressure off me. Now I want to help current students. They have so many pressures financially, academically and socially. Myral and I established the Martin and Myral Swan Gilson Endowed Scholarship."

After Myral passed away last year, Marty established the Wilma Hefty Clancy Endowed Graduate Assistantship to provide a summer intern for the Rural School Collection program. The assistantship was named after Myral's grandmother, who attended Iowa State Teachers College and taught in rural schools.

"My parents taught me to give back to the community," Marty says.

His father was a farmer, and season after season, Marty witnessed neighbors helping neighbors by sharing machinery and being there for each other. As a member of the Kings Daughters, his mother helped raise funds for orphans.

"She was always helping somebody," he recalls.

Following his parents' example of helping, Marty chose a career in teaching, which later led to a master's degree in college student services and a 24-year career at Arizona State University.

"My experience as an RA (resident assistant) at UNI and experiences in the classroom and beyond helped prepare me for a successful career in student services," he says.

The Gilsons' generous spirit of philanthropy will continue to impact students for generations to come through their scholarships and a gift in their will.

Like Marty, you can create a meaningful gift to support future UNI students. Contact Jane Halverson at (319) 273-4665 or 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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