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Start Investing Early in a Charitable Giving Plan

Regi Munro started saving for her alma mater during her first full-time job

Regi Munro knows all about what a kick start can do. She was a forward on the UW-Eau Claire soccer team from 1985-89 and never forgot what that experience did for her. When she landed her first full-time job, as a fitness center manager at a community college, she set a goal to use a tax-sheltered fund to make a charitable contribution to her alma mater. Eventually she became a faculty member at Chandler-Gilbert Community College in Chandler, Ariz., and later, chair of the Biological Sciences Division. It didn't take long for the account to reach $100,000.

"That's when I decided to set up the UW-Eau Claire Women's Soccer Opportunity Fund, because I knew that I could start giving monthly," said Regi, who holds a bachelor's degree in Spanish, a master's degree in exercise science and a doctoral degree in exercise and wellness. "I jokingly call it my 'dead money.' I'm never going to touch those dollars."

Now Regi's "dead" money is not only breathing new life into the soccer program, but also women's softball and basketball at UW-Eau Claire.

"When I was on the team, soccer was still a club sport, but we played against varsity teams from around the region so we were competitive. The experience completely changed my life."

Regi said she has been impressed with UW-Eau Claire coaches Sean Yengo, head soccer coach, Tonia Englund, women's basketball coach and Leslie Huntington, women's softball coach. Regi set up each related fund in honor of important people in her life: one for her mother, one for her grandmother and one for Renee Smith, a former softball player and cancer survivor who was recognized with the first annual Sandy Schumacher award, named for a beloved longtime coach who recently passed away.

"I care a lot about how coaches coach and what they do in in developing their players as people," Regi said. "I keep seeing progress and people who are passionate about what they do. I know there is never enough money to do what you want to do. With these funds I am confident I'm giving to something that is truly getting to those students."

In addition to the athletic funds, Regi has given to the Blugold women's softball "locker campaign" to support her nieces who attend UW-Eau Claire, and she is supporting Coach Yengo's appeal to help build a soccer pavilion at Bollinger Field.

So why does Regi encourage others to think about their "dead" money no matter their age or point in their career?

"The earlier you start, the more you can do," she said. "When people hear the word 'estate' they think of rich people. But it doesn't have to be big. Start small and build something!"

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A charitable bequest is one or two sentences in your will or living trust that leave to University of Wisconsin-Eau Claire Foundation 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

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 University of Wisconsin-Eau Claire Foundation 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 University of Wisconsin-Eau Claire Foundation 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 University of Wisconsin-Eau Claire Foundation 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 University of Wisconsin-Eau Claire Foundation where you agree to make a gift to University of Wisconsin-Eau Claire Foundation 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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