PLANNED GIVING

Charitable Remainder Trusts
Some think trusts are only useful to the wealthy wanting to transfer large estates to their heirs. Today many people of moderate means find that trusts can be beneficial.

• A trust can provide income to you or someone you designate for a period of years or for life.
• A trust can delay distribution of property or money by holding funds until a child reaches a certain age.
• A trust can enable property to be professionally managed for a period of years or for life, relieving you of the burdens of management.
• A charitable trust can provide income during your lifetime and allow you to make a substantial deferred gift to the college.
• A charitable trust can provide income, gift and estate tax benefits because of the deduction allowed for the gift portion.

Naming Opportunities
Another way to assist the college, enjoy special recognition during your lifetime and leave a lasting legacy to your support of and commitment to Sherman College's mission is to have your name permanently placed on a building, room or area of the college campus. The college has several naming opportunities available at this time. The following are examples of present opportunities.

• Computer Laboratory $40,000
• Classroom in the Theron and Selma Olsen Building (2) $30,000
• Health Center X-Ray Room (3) $20,000
• Large Group Student Study Room (2) $10,000
• Small Group Student Study Room (6) $5,000
• Study Gazebos located on campus (2) $5,000

Life Insurance
You may discover that the asset of a life insurance policy is an excellent way to make a meaningful gift. There are several ways to create a gift from existing insurance coverage or by purchasing a new policy. The following are some examples of ways to fulfill your philanthropic desires through gifts of insurance:

• Name Sherman College as the primary, secondary or final beneficiary of an existing policy.
• Assign the annual dividends to Sherman College; each dividend becomes a tax deductible gift.
• Name Sherman College as the irrevocable owner and beneficiary of a policy on which you are still paying premiums; the cash surrender value is a deduction in the year of the donation and future premiums are deductible when paid.
• Buy a new policy for the benefit of Sherman College; premiums are tax deductible when paid if the college is the irrevocable owner and beneficiary.

If you have paid for or are paying for existing insurance coverage that is no longer required, you can donate that policy to Sherman College of Straight Chiropractic. The following are some examples of coverage that may no longer be needed:

• Mortgage insurance on a home that is debt-free.
• Life insurance that was to protect a spouse who no longer needs such protection.
• Insurance that was to provide for a child who is now financially independent.
• A policy that was intended to provide retirement benefits that are now provided by other sources.
• Insurance coverage on a business or business partner that is no longer needed.

In most cases, by making Sherman College the irrevocable owner and beneficiary of such a policy, you are entitled to a tax deduction approximating the cash surrender value at the time of the gift. This deduction may be subject to some restrictions based on adjusted gross income, but any unused portion can be carried over for up to five succeeding years.

In all cases, you should seek the assistance of your insurance representative to make any changes of ownership or beneficiary, to determine cash value and to determine that you continue to have adequate coverage after making the gift.

Endowments
Throughout the life of Sherman College of Straight Chiropractic, generous men and women have given gifts to build our college, construct our buildings, buy books and teaching materials, install technology and assist deserving students with scholarships. We need individuals to provide permanent endowment funds to ensure that Sherman College will be able to continue to offer the quality education needed by men and women who aspire to serve others through chiropractic. Endowment funds are basically investment funds that preserve and grow principal while providing annual funds to the college. Endowments allow you, as a supporter of the college, to continue your annual support to Sherman College even after death.

One reason people launch endowments is to create lasting legacies. The ongoing nature of these endowments provides an unending way to not only support Sherman College but to remind family and friends of your values and commitments. Grandchildren, great-grandchildren and future generations will be reminded of your generosity and commitment as they see your endowment at work. If you want to build a lasting legacy to inspire people for years to come, consider launching your own endowment. The following are examples of ways that endowments can benefit Sherman College.

• Scholarships: Named scholarship endowments provide financial assistance to students who meet criteria based on finances, grades, service or other criteria developed together with the donor. Smaller gifts are encouraged to the general scholarship fund.
• Library: Books, electronic information, and media provide resources for student learning. Named library endowments can fund the purchase of new books or periodicals. A growing need is for an endowment for electronic materials or equipment. This could be an on-line scientific database, computer equipment to access materials or for expansion of the computer labs. For those who are unable to establish a sizeable endowment, small gifts are encouraged to the book fund.
• Technology: Networking equipment, hardware and software, computers and equipment, scientific apparatus, and personnel need constant attention and improvement as technology develops. The college has made significant strides in this area but it is a rapidly changing area that must be constantly updated. An endowment to help insure that the money is available with which to keep our technology current can play a significant role in making sure our students are prepared to learn and compete in a technologically advanced society.
• Faculty Development: Other types of named endowments can be for faculty development. The earnings from the endowment could provide for fees and transportation to scholarly conferences in the US and abroad that Sherman College would be otherwise unable to afford.
• Philosophy Conference: A named endowment to provide for an annual philosophy conference that would bring prominent philosophers to campus annually: they could deliver a paper and then participate in discussions with students and faculty. Another possibility is to use the endowment to fund an annual conference to study and advance the philosophy of chiropractic.

How to start an endowment
There are several ways you can start your endowment.

• You may do it all at once by making a major gift of cash or marketable assets.
• You could make the arrangements now and defer the beginning date and allow it to be activated by your will.
• You could start now with a modest amount and add to your endowment over a period of years with a portion of your estate eventually adding to your fund.
• Other ways might involve a charitable gift annuity or a charitable trust.

For more information, contact Susan Newlin, Vice President for Institutional Advancement, 800-849-8771, ext. 241, snewlin@sherman.edu.