Dean '62 and Barbara '63 Larson Honor Earlier Generation by Supporting Future Augsburg Students

Donor Photo

Dean '62 and Barbara '63 Larson donate a percentage of their income to Christian causes.

Have you noticed—your parents got smarter over the years? Maybe not in IQ but in how you view their actions and ideas compared with what your teenage self thought? Dean '62 and Barbara '63 Larson laugh while describing this phenomenon.

Now this couple follows both sets of their parents' examples of generous giving. "My parents gave at the first of every month. If they had food on the table, they gave money away. That always came first before other spending," Barbara explains.

Today she and her husband, Dean—like their parents before them—practice "first fruits" giving, donating a percentage of income to Christian causes. They find tremendous joy in doing so.

Augsburg ranks as a priority in Dean and Barbara's charitable giving. They named Augsburg as a beneficiary in their will, established annuities benefitting Augsburg with the ELCA Foundation, and pledged current gifts for the Center for Science, Business and Religion (CSBR).

Dean and Barbara Make Gift With Dean's Sister Patricia Moylan

Dean's sister Patricia Larson Moylan '57 also is a CSBR contributor. Together they are naming a faculty office in memory of Dean and Patricia's parents, Ernest '32 and Ellen '28 Larson.

Dean and Patricia's family history intertwines repeatedly with Augsburg. Their grandfather, Endre Erik Gynild, who served as president of the Lutheran Free Church, was a graduate. Their parents and numerous aunts, uncles and cousins were Auggies. Dean and Patricia's father, Ernest, chaired the Board of Directors. Devotion to the college was closely tied to devotion to the Lutheran Free Church, a predecessor of today's Evangelical Lutheran Church in America.

Dean grew up attending many Augsburg events including the groundbreaking ceremony for the current science building. He declares the new building essential for the college. "I am excited that science, business and religion will all be combined in this space," he says. "Communication among these disciplines is needed in our world. It's necessary to get away from silos."

Barbara transferred to Augsburg from Concordia College, Moorhead. Fellow staff members at Galilee Bible Camp at Lake Bronson, Minnesota, encouraged her to come to Augsburg. A music major, she sang in the Augsburg Choir. Dean, a math education major, also sang in the choir.

Dean taught high school math in Buffalo, Minnesota, for two years and then attained a Master of Divinity degree from Pacific Lutheran Theological Seminary. "My dad and grandfather were pastors, so people always asked if I planned to be a pastor, too," he says. "I fought my call for a long time because I knew it would be all-consuming. In the end, it felt right. Ministry issues were deeply engaging."

Augsburg Is a Priority for the Larsons' Giving

Dean served congregations in Broadus, Montana; Fergus Falls, Gaylord and Morris, all in Minnesota; and Williston, North Dakota., before moving to the Twin Cities where he served four congregations as an interim pastor. Barbara taught music and led choirs in Gaylord, Morris and Williston, including teaching for 12 years at the University of Minnesota, Morris.

Now retired, Dean and Barbara reconnected with Augsburg upon moving back to the Twin Cities. Dean explains, "We consciously support ELCA causes as a way of strengthening the larger church. Augsburg is a priority because we like to give back to a place that meant a lot to us personally and to our families. We also admire the school's mission and the way it connects to the neighborhood and the world."

'We See Now What Our Parents Were Telling Us'

Barbara, an Augsburg Associates volunteer, comments, "As we have gotten older, we realize that as human beings we are here to give of ourselves, our time and our possessions. We are here not to accumulate but to give back. We now know the blessing that comes from being a part of God's generosity. We finally see what our parents were trying to tell us years ago."

Learn How You Can Help

If you would like to make a gift to support an Augsburg education, consider a planned gift from your estate. Contact Amy Alkire at 612-330-1188 or alkirea@augsburg.edu to learn more, at no obligation.

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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