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Donating Now Without Affecting Your Current Finances

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As was one of the inaugural recipients of a John R. and Aline B. Emens Scholarship, Mark Ervin is giving back to the same program that not only helped him financially but also encouraged him to develop his leadership skills and grow academically and socially.

Created to honor the former Ball State president and his wife, the Emens Scholars program attracts outstanding high school student leaders to Ball State and develops recipients' leadership skills while on campus.

More than 150 students have been recipients of this scholarship since the program's inception in 1977.

Two-Sided Impact
"I have witnessed the impact of this scholarship from both sides-as a student and while serving on the scholarship selection committee," says Ervin, a managing partner for Muncie law firm Beasley & Gilkison, LLP, and a member of the Ball State University Foundation Board of Directors. "I'm proud to be able to support a scholarship fund that positively affected my life as a student and beyond."

When contemplating a way to fund this gift, Ervin and his wife Molly felt a gift of life insurance was a practical way to make a commitment at a point in their lives when they do not yet have the resources to make a major gift to the university.

"This type of gift offers a simple and attractive way to provide a substantial future benefit to the university at a low present cost," says Ervin, who made Ball State the beneficiary of the insurance policy. "It was a great fit for us."

To learn how you can make a gift of life insurance today, click here.

eBrochure Request Form

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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 give to Ball State University Foundation, a nonprofit corporation currently located at 2800 W. Bethel Avenue, Muncie, IN 47304, or its successor thereto, ______________* [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 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 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 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.

Personal Estate Planning Kit Request Form

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