Driven to Serve and Give

Becky and Tom von FischerAs a high school student, Becky von Fischer '67 knew she wanted to attend a Lutheran college. Her minister father thought Augsburg University would be a good fit—and he was right.

“Being at Augsburg in an urban setting in the 1960s put us in the mix with a lot of social justice issues,” Becky says. “The faculty’s strong commitment to being involved in the neighborhood had a huge impact on me.”

Becky graduated from Augsburg in 1967 with a sociology major and a passion for helping enhance the lives of others.

Augsburg’s community involvement that inspired Becky as a student continues to inspire her and her husband, Tom, today. The now-retired Lutheran pastors have enjoyed seeing the university develop the next generations of global citizens.

“Augsburg’s commitment to experiential learning, social justice, sober living, international experiences and supporting students of color aligns with our values as a couple,” Tom says.

Supporting Augsburg with a gift in their will, also known as a bequest, was an easy decision for Becky and Tom. Both of them grew up in families that emphasized the importance of charitable giving. Their planned gift is a percentage of their estate, but they’ve also recently made a gift to the Sesquicentennial Campaign through a qualified charitable distribution from their IRAs.

“It’s part of our DNA to serve and give,” Becky says. “We often talk about where our financial contributions can make a difference and where we can get excited about how they’re being used. Augsburg is one of those places.”

Create a Lasting Legacy

Like the von Fischers, you can make a lasting impact on Augsburg by including a gift to us in your will or other estate plan. Contact Amy Alkire at alkirea@augsburg.edu or 612-330-1188 to learn more.

A charitable bequest is one or two sentences in your will or living trust that leave to Augsburg University 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 Augsburg University, a nonprofit corporation currently located at 2211 Riverside Ave., CB 142, Minneapolis, MN 55454, 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 Augsburg University 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 Augsburg University 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 Augsburg University 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 Augsburg University where you agree to make a gift to Augsburg University 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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