Nancy (Joubert) Raymond '63: Planned Giving and Campus Connections Ensure Future Success

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Nancy Raymond is a member of the Sven Oftedal Society after adding a bequest in her estate to benefit Augsburg.

Nancy (Joubert) Raymond '63 never imagined one day she could afford to give a major gift to Augsburg. Years ago, she wrote Augsburg into her estate plan, designating her gift as a scholarship for women in education.

"I set that up at a time when I couldn't give much currently," she says. "I told my three children that I had added more ‘children' to my will by setting up bequests for Augsburg, the Evangelical Lutheran Church in America and American Association of University Women, in addition to my actual family members."

Raymond's gift ensures a positive and transformative effect on the future of Augsburg—for its students, campus, and ultimately, the world. With that commitment, Raymond became a member of Augsburg's Sven Oftedal Society, and guaranteed her legacy will live on through women in education for years to come.

Reconnecting to Classmates Reignited Interest in Giving

Attending her 50th reunion at Augsburg last year reconnected Raymond, who lives in Grand Rapids, Minnesota, to classmates and introduced her to the vision for the Center for Science, Business and Religion.

"I saw that I was at a place in life where I could do more and do it now. The people contact and the exposure to what Augsburg is doing today reignited my interest. I love the way Augsburg has a global focus, such as sponsoring the Nobel Peace Prize Forum," Raymond says.

Recently, Raymond pledged $25,000 for the Center for Science, Business and Religion.

"I am at a time in life where my needs are simple and I am able to give back to Augsburg and my congregation more substantially than I could years ago," Raymond says. "My car has 235,000 miles on it, yet it's running fine. I don't need to buy more stuff for myself. I would rather direct some resources to causes that matter to me. I feel good that I can give."

Raymond is sponsoring a CSBR faculty office in honor of the Rev. Philip Quanbeck Sr., Ph.D. Although she was not a religion major, Raymond took every class he taught.

"He inspired personal and spiritual growth," Raymond says. "His voice and his teachings remain with me, even after all these years. He frequently led daily chapel services, and I still remember how he had us sing ‘O Come, O Come Emmanuel' every day during Advent."

Hard Work and Commitment to Augsburg Life

Raymond put herself through college by working 16 hours a week at a grocery store.

"Students today couldn't cover their entire tuition with a part-time job," she notes. "But I felt very proud that I could do that."

To keep costs low, she lived with her parents in Richfield, Minnesota, rather than in a dormitory.

"That didn't keep me from being active on campus," she says.

Raymond was a cheerleader and organized Honor Convocation. She was the first student president of Augsburg's chapter of the National Education Association.

Finding Her True Calling, a Blend of Earlier Augsburg Studies

As a first year and sophomore, Raymond pursued a social work major, and then switched to elementary education.

Later in life, after both full- and part-time teaching, she became an elementary school counselor.

She first attained a master's degree in adult counseling with a wellness focus from Mankato State University. Later, she went back for licensure in elementary counseling.

"That career didn't exist when I was at Augsburg," she says. "But it suited me best. I taught young people healthy social skills like Good Touch, led small groups on grief and loss, and also met with students individually. I helped establish a peer mediation program in Grand Rapids schools to enable children to help classmates mediate differences, to develop lifelong skills in peacemaking. Through elementary counseling, it was special to be able to draw on both areas of my study at Augsburg."

In 2006, a year before she retired, Raymond was named Elementary School Counselor of the Year by the Minnesota School Counselors Association.

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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