Jean (Swanson) Markland '52 and Rev. Dr. Arne Markland '49: Building on Their Foundation

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Jean '52 and Rev. Dr. Arne Markland '49

Education—both teaching and learning—has provided an important foundation for Jean (Swanson) Markland '52 and her husband, the Rev. Dr. Arne Markland '49. They both attended Lutheran academies; he went to Hillcrest Academy in Fergus Falls, Minnesota, and she attended Oak Grove Lutheran Schools in Fargo, North Dakota. "Our Lutheran education gave us a good foundation and was a wonderful influence on our lives," she said.

Jean and Arne met at Augsburg and were married when she was teaching in Battle Lake, Minnesota, and he was attending seminary. He served more than 30 years as a college chaplain or pastor of churches in communities in Utah while she taught junior high school for 28 years in Salt Lake County. Arne continued his education, earning a PhD from the University of Utah, and in 1986 while she was on sabbatical from her teaching job, Jean took 72 quarter-hours of credit through the university.

"You can't do what we've done if you don't have a good faith foundation," Jean said. In their 50-plus years of marriage, the couple has traveled to 130 countries, as they have been lecturers on more than 150 cruises. "We see our place in the world, wherever we are, to light a candle and punch a hole in the darkness," she added.

"We thought for a long time about where to give our money," Jean said. "We like Augsburg's focus and its mission in the city —the city is a ‘built-in' mission that provides jobs and internships for students and a wonderful opportunity for service." As a result, they established the Arne and Jean Markland Endowed Scholarship through an outright gift and a bequest in their estate.

Recently, however, they learned of an opportunity to enhance their yearly income, receive a tax break and eventually increase their scholarship's principal. By investing with an Augsburg charitable gift annuity (CGA), rather than with their bank, they receive a locked-in rate of return for their lifetimes while ensuring that the remainder will be added to their scholarship after their deaths.

Arne and Jean are pleased to support students at Augsburg as they "learn how to learn," which Jean says is the best thing about college. The Marklands have continued learning and teaching by giving lectures as they travel —he on the history and personalities of the countries where they are and she on marine biology. "Our whole life now is about education," she said. It seems that has always been true for them.

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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