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What Is Your Philanthropic Personality? Meet One Woman Whose Name Matches Her Giving Style


Rose Lorenz has initiated a Giving Circle at UNI.

In Women, Wealth & Giving, authors Margaret May Damen and Niki Nicastro McCuistion describe four types of philanthropic personalities: Rose, Daisy, Carnation and Lily.

"Rose" women make up a significant number of leading-edge boomers. They are forthright about their idealism. Th work they do represents their willingness to take risks and be demonstrative about their giving. They are among the most loyal supporters and persuasive leaders.

It is no coincidence that this issue's "UNI Woman" Rose Lorenz bears the name of this giving style. Her generosity has served UNI and its students well. As a member of the UNI Women in Philanthropy Council, Rose initiated a Giving Circle.

"The Circle is what we're all about. There is joy in women being together and giving together. As a group, we look at the immediate needs of UNI's students and decide how we can assist," Rose says. "What I like most is that we see things happen now."

In addition, Rose and her husband, Stan, fund a scholarship to support student-athletes. They have also made provisions for a scholarship fund in their estate plan. Rose serves as chair of the UNI Foundation Board of Trustees as well.

"As a board member and a retired business owner, I am able to reinforce UNI as a key player in the community," she says.

"My involvement at UNI has helped me gain a true understanding of education and what it means to students in the long run," Rose says. "My hope is for individuals to excel and extend the teachings of this great university."

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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.

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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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