Planned Giving

Consider Joining the Heritage Club

The Heritage Club consists of individuals who desire to guarantee the future of Iowa Wesleyan College through their estate plans. They have remembered Iowa Wesleyan in their wills, through an insurance policy or through some form of an annuity or trust. Their thoughtfulness helps keep Iowa Wesleyan strong as it seeks to meet the needs of future generations and students.

Planned gifts are very important to the College. In your will or living trust, you can direct assets to Iowa Wesleyan College. A charitable bequest not only extends your lifetime commitment to the College, but also qualifies your estate for a deduction that reduces tax liability. You can arrange to give a specific amount, property, or a percentage of your estate.

Alumni and friends that have listed Iowa Wesleyan College as a beneficiary in their estate plans should contact Dawn Dunnegan in the Office of Institutional Relations so that you will be included in the Heritage Club, dawn.dunnegan@iwc.edu or at 319-385-6238. Knowing about estate gifts helps the college plan for the future and set long term goals. The College would also like to thank you properly and honor you with membership.

Gifts by Will: Bequests large and small have contributed to the good health of IWC over the years. Bequests qualify for an unlimited charitable deduction, which reduces one's estate taxes and preserves more of the donor's assets for family and other intended beneficiaries.

Charitable Remainder Unitrusts and Annuity Trusts: Charitable trusts are particularly beneficial for those who hold highly appreciated, low-yield investments from which a higher return is desired. A tax deduction is allowed at the time the charitable trust is created. The size of the deduction depends on the donor's age, payment percentage, and other factors. In the event the College acts as trustee, then the IWC Finance Committee must approve such an arrangement.

Charitable Gift Annuities: Charitable gift annuities have many of the same benefits of charitable remainder trusts, however, the significant difference between the two is that the payments from the gift annuity are guaranteed by the College and its assets stand behind the obligation to make annuity payments. Deferred charitable gift annuity payments are deferred to some time after the contribution is received by the College.

Charitable gift annuities are useful as supplements to existing retirement plans or as a substitute for a retirement plan. Annuity payments are established at the time the gift is made. These gifts need prior approval by the IWC Finance committee.

Charitable Lead Trusts: Donors can make a gift of current income by putting property in a simple trust. Donors specify the percentage of the total annual value that IWC is to receive. At the end of a designated period, the property is returned to the donor or to the non-charitable beneficiaries the donor has named. Such trusts may allow immediate tax advantages or may reduce the gift tax when the assets are passed to children or grandchildren at the expiration of the trust.

In all cases, donors should be advised to consult with their tax advisor to determine specific tax savings and/or the planned giving opportunity which best fits their particular need. Tax deductions for donations are allowed in the current year and excess deductions may be carried forward and used up to five additional years.