Statement for Bob and Penny Swanson

Bob and Penny Swanson smiling Stout has been a part of each of our lives since we enrolled in the 1940s. Our student years were a real joy for us, and provided each of us with an outstanding education. We never would have guessed then, that Stout would become an even greater part of our lives.

Bob finished his Master's degree, and then we were very pleased when he joined the faculty. Over the years, he finished his doctorate at Minnesota, and moved up to positions in the department, then became Dean, and finally assumed the Chancellor's position when Bud Micheels retired. We were both honored to serve our alma mater throughout our entire working lives.

We raised our four children in Menomonie, and watched two of them finish their degrees at Stout. Even after we retired, our interactions with Stout, and the people we had worked shoulder-to-shoulder with for so many years, have been a real joy to us.

It was only fitting then, that we seek to give back to this wonderful university in as many ways as we could, including making plans in our estate to provide a significant gift to carry on the legacy of our wonderful relationship with Stout. We established an insurance policy with the Stout University Foundation as the beneficiary some years ago. Each year we make the annual premium payment-which is income tax deductible-knowing that we are ultimately creating an endowment to assure future Stout students the same outstanding education we enjoyed, and helped provide when we served the university.

It has been a very easy thing to do for us, and provides us with great satisfaction, knowing we can help other students who will come to Stout for their education as we did almost 70 years ago.

Robert S. Swanson '49 (10/3/1924- 1/27/2013)
Margaret "Penny" Swanson '48 (3/17/1926-7/11/2016)

A charitable bequest is one or two sentences in your will or living trust that leave to University of Wisconsin-Stout 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, [name], of [city, state, ZIP], give, devise and bequeath to University of Wisconsin-Stout [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 the 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 gift 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 receive an immediate federal income tax charitable deduction. 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 Foundation as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 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 Foundation where you agree to make a gift to the 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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