Jane Malone-George Makes Gift to Endowment for Support of Student Scholarships

Jane smiling Though she was at the University of Dubuque for only two years, Jane (Sumpter) Malone-George says her UD experience provided a lifetime of benefits. Today, 60 years later, she wants to help other students realize those same benefits.

Jane, a UD student from 1947 to 1949, has established a charitable gift annuity (CGA) to support the university's endowment fund. She is also contributing to a scholarship for an individual student chosen by UD.

"The quality of the education is excellent," Jane says, "and I like the way they run the school with Christian beliefs and ethics." Along with this solid foundation, she says she is grateful for the steady guidance and encouragement she received at UD that allowed her the self-confidence to function on her own.

Jane grew up in the Chicago area, met her late husband at UD and still resides in Dubuque, where she leads historic tours for the city. She is a firm believer in the need and the importance of higher education, because a good education, she says, will give young people the ability to think and to reason.

Those two talents—thinking and reasoning—can be keys to a successful life, as "they give you the ability to adjust to a new job or a new situation."

In addition, Jane feels that attending a smaller school, like the UD, makes it easier to meet people and form new friendships. When she talks about her own student days, a big part of that conversation is the lifelong friendships she made.

"As a result of all I got from the University of Dubuque," Jane says, "I wanted to give something back. Plus, it is a good investment." Using a CGA to support UD's endowment allows Jane to make a significant gift to the university, while receiving an income tax deduction and secure payments for life.

"I believe that the university needs a strong endowment, and that by contributing to the endowment (which provides scholarships and financial aid), I can help students who would not otherwise be able to go to college."

A charitable bequest is one or two sentences in your will or living trust that leave to University of Dubuque 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 Dubuque [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 University of Dubuque 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 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 University of Dubuque 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 University of Dubuque 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 University of Dubuque where you agree to make a gift to the University of Dubuque 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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