Passing Down the Dream

Corinne and John Haglund Scholarship

Haglunds On behalf of the Corinne Tandberg Haglund and John Haglund Endowed Scholarship, we thank not only the couple's personal generosity and philanthropic spirit, but also, perhaps, the circle of life.

Corinne, still a fireball at 83, never attended Augsburg. It was her dream, though, born of happy childhood summers in rural Polk County, Wisconsin, where she grew up. In the 1930s and 1940s, the wise elders in her Garfield Lutheran Church parish sponsored Augsburg students during their summer break, providing room, board, and sometimes a small stipend. In exchange, the college students taught weekly Bible school, often walking to class with their young pupils, and sharing bag lunches and big city stories.

"I was very happy to learn all about Jesus, and to learn new songs and stories from those Augsburg students. I really admired them," Corinne says. When it was time to consider college, "Augsburg was where I always wanted to go. But there was no money. My parents couldn't help. I asked my grandpa, but he said he couldn't help, either."

Her Minneapolis dream did not come true, but her larger dream of education and meaningful work persisted. When River Falls State College, now University of Wisconsin-River Falls, offered her a scholarship covering tuition and books, she accepted. A female professor helped her along that first year, and Corinne went on to earn a BS in economics from the University of Wisconsin-Madison, where she met her husband, John. The two continued their academic achievement at Iowa State University, where he got his PhD in science while she got her MS in business.

A rare female economist then, Corinne blazed trails wherever she turned. "The first Jewish woman I ever met helped me the most. She knew I was going to be up against all the brightest men, and she wanted me to be the best," she says.

"I was a women's libber. I worked with Betty Friedan, and I was the first woman ever hired in market research at Prudential," she adds, citing the often forgotten fact that jobs were advertised according to gender. In pursuit of management training, she discovered that women were not allowed to become insurance agents.

"They told me they wouldn't hire me unless I had a law degree. I told them I would be happy to go to court. Then of course they hired me. I persevered," she says. "It was very difficult because the men didn't even want me eating lunch with them." They also reveled in foul language, but thanks to her Norwegian lumberjack father and his friends, she was fluent in off-color discourse. And when they wouldn't promote her, her response was predictable: "Well, I'm going to become a millionaire then."

Which she did, of course. After moving to California with her family, she launched an extremely successful career in real estate. Known by her contemporaries as "Hats," in honor of her favorite accessory, Corinne and her husband, a principal scientist at Dole, had three children, who pursued careers in teaching and Lutheran ministry. (Their son, Victor, is pastor at Saron Lutheran Church in Escalon, California.) Still professionally active, Corinne has maintained her loyalty to the Lutheran church (she belongs to St. Stephen's in El Dorado Hills, California), her interest in church politics, and her devotion to that long-ago quest for an Augsburg education.

The scholarship endowed by Corinne and John, who is the chief supporter of his wife's philanthropic mission, will go to another young woman from rural Wisconsin who needs money to attend the school of her dreams.

"I made lots of money. I was blessed," Corinne says with customary candor. "I want this scholarship to be for a Christian and I want it to be for a woman, because that's what I was. I want someone to have an easy time going to Augsburg." Thus she has come full circle, revisiting her youth with the means of success and the wisdom of age.

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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