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Being There for Ball State Students

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Judy and David Lamper

When David (BS '71) and Judy (BS '72) Lamper decided to attend Ball State, they needed a little financial help. When they graduated, they were able to give back so other students could receive the help they needed as well.

As nontraditional students commuting every day from Alexandria, Ind., where they lived with their young daughter, Robin, the Lampers needed financial aid so they could both attend Ball State. Knowing that Ball State President John Pruis was always there for the students, the Lampers went directly to him and asked for help. Following the meeting, he encouraged their application for financial aid.

As a veteran, David received financial aid through the G.I. Bill. They ultimately received a $400 scholarship allowing Judy to attend Ball State as well.

"If President Pruis and the financial aid office had not given us a fair evaluation of our financial aid request, we would not have had the opportunity to get our degrees," David says. "Most of us can remember at least one defining moment in our lives, and for us that was the moment."

Their Ball State degrees enabled them to find careers in the areas they loved. David worked in federal criminal investigations in Chicago as a U.S. postal inspector, while Judy taught high school and was the cheerleading coordinator for all sports in the Barrington, Ill., community school district.

Giving Back With a Win-Win Gift
The Lampers decided to give back to Ball State because of the help they received. "The primary value of our gift is knowing we may help other students get their degree," David says.

The couple chose to donate through a deferred charitable gift annuity because it provides them with extra retirement income for the rest of their lives. In addition, the residual of their gift will ultimately help students. Judy and David felt that an unrestricted gift was best, as it will allow Ball State to use their donation where it is needed most.

"We thought it was the right gift for us because we could get the tax deduction, defer the annuity payments for several years, as well as help Ball State students," David says.

Like former President Pruis and so many other alumni, the Lampers are there for the students.

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A charitable bequest is one or two sentences in your will or living trust that leave to Ball State University 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

"I, [name], of [city, state, ZIP], give, devise and bequeath to Ball State University Foundation [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.

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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