What is the Heritage Society?

Members of the Heritage Society are those generous people who have named the University of Dubuque in their will or have invested in one of the deferred giving plans available to charitable individuals.

They are contributors who sincerely believe in the University of Dubuque as a quality institution of higher learning in the United States.

Members of the Heritage Society demonstrate, by example, their belief in the University of Dubuque and encourage others to join them in supporting the university through bequests and deferred gifts.

Who is eligible for membership?
All persons who make deferred gifts to the University of Dubuque are members of the Heritage Society. Eligibility for memberships is not dependent on the amount of the gift or the age of the donor.

What is a "Deferred Gift"?
Deferred or planned gifts enable a donor to make a substantial investment in the university and receive something in return. The donor may receive an annual income each year, a sizable tax deduction, and a possible deduction of estate and gift taxes. They have full approval from both the Treasury Department and the Internal Revenue Service.

At the same time, a deferred investment enables the University of Dubuque to more adequately plan for the future because the deferred or future gift is a known factor. Deferred investments have always been the key element in establishing and building an endowment fund.

A deferred investment is also a means by which a donor can perpetuate his or her name or the name of a loved one forever in the history of the university. Common examples include scholarships, named rooms or named buildings. There are many opportunities and talking with the advancement staff will help determine the best options for you.

There are several forms of deferred investing, all of which qualify donors for membership in the Heritage Society:

  •  A bequest in a will
  •  A charitable gift annuity
  •  A revocable trust
  •  A charitable remainder trust
  •  A charitable lead trust
  •  A gift of home or farm with lifetime occupancy
  •  A life insurance policy
  •  A retirement fund

Benefits of joining the Heritage Society
The primary benefit of membership in the Heritage Society is the knowledge that you are helping to ensure the future of the University of Dubuque. The university also holds special activities for members.

You will receive:

  • Receipt of president's newsletters, special announcements of art exhibits, cultural events and continuing education programs
  • A framed certificate as public acknowledgement of your membership in the Heritage Society
  • Listing in the annual report (if desired)
  • Invitations to regional meetings that will allow closer relationships with University personnel
  • If you have made a provision in your will for a bequest to the University of Dubuque and you have not informed us, please let us know. We would like to include you as a member of our Heritage Society.

If you wish to discuss the proper wording for a bequest in your will or find out about the deferred or planned gifts available, please call or write:

University of Dubuque
Heritage Society
2000 University Avenue
Dubuque, IA 52001
Toll Free Phone: 800-483-2586
Local Phone: (563) 589-3809

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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