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Couple's Deep Devotion and Passion Fueled Planned Gifts

Larry and Sharon Quisenberry

Larry and Sharron Quisenberry were recognized in 2010 for their contributions to Truman through the Truman State University Foundation. Both have recently retired from their respective careers in higher education, which culminated in leadership positions at Iowa State University, where Larry served the provost and Sharron served as vice president for research and economic development. Sharron currently serves as chair of Truman's comprehensive fundraising campaign, "Pursue the Future."

Doctors Larry and Sharron Quisenberry are deeply devoted to Truman State University and for good reason. They know the transformational influence of the Truman experience and can point to evidence of that powerful influence in their own lives. After spending much of their careers in higher education leadership, they also share a highly informed appreciation for Truman's distinctive qualities when compared to other colleges and universities across the country.

"An education at Truman makes a difference because it is an exceptional institution that has a long history of quality education and the ability to influence learning in Missouri, surrounding states, and beyond," Larry says. "The quality of educational programs and students graduating from Truman today is even better than in previous generations."

Larry and Sharron's passion for preserving Truman's exceptional quality and distinctiveness has turned to action as Truman enters the quiet phase of the new comprehensive fundraising campaign, "Pursue the Future." This new campaign is designed to raise $40 million in private support for student scholarships, academic programs, faculty support and athletics.

"Truman's high-quality education at an affordable price is in jeopardy because state support for higher education is declining," Sharron says. "States have other obligations to meet and the result continues to be increases in tuition. Other sources of funding need to be found to offset costs to students to maintain the affordability of a university education. To ensure a quality education and keep costs and affordability in line, it is extremely important that we, as the Truman alumni family, provide additional funding for scholarships and program excellence. These contributions will ensure that Truman will be able to continue to provide high-quality education at an affordable price."

Stepping Up
Larry and Sharron are leading this effort with a $50,000 campaign pledge combined with a $1 million planned gift commitment of IRA assets to support two scholarship endowments, the Dr. John Black Scholarship Fund and the Larry and Sharron Quisenberry Business and Science Endowment Fund, through the Truman State University Foundation.

Supporting the Dr. John Black Scholarship Fund is especially meaningful to Larry and Sharron as it pays tribute to their very special friend and mentor. Dr. Black was Sharron's major advisor as an undergraduate student at Truman and was instrumental in guiding her career path of earning a Ph.D. in entomology and becoming a university professor and administrator.

"Dr. Black was an exceptional man and outstanding faculty and mentor throughout his career at Truman. He significantly influenced hundreds of students as they pursued their careers as doctors of osteopathic medicine, masters of science and doctors of philosophy," explains Sharron.

Supporting Students
The Larry and Sharron Quisenberry Business and Science Endowment Fund was established by the Quisenberrys in 2010 with an initial commitment to the "Bright Minds, Bright Futures" campaign. The scholarships produced from this named endowment provide students with funds for curricular and noncurricular activities.

"These opportunities, we feel, promote learning, the development of critical thinking skills and the ability to make, in the long-term, personal contributions to society," Sharron says. "Our scholarships are based on need and scholarship."

The Quisenberrys chose to further fund their named scholarship endowment with a planned gift arrangement of IRA assets. They found that gifting these assets to the Truman State University Foundation yielded greater tax savings than leaving these assets to heirs.

"The retirement assets will be tax-free, providing the maximum commitments of the assets," Larry remarks. "We strongly encourage others to make similar contributions because of the long-term impact that Truman State University has on its graduates and ultimately on society."

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A charitable bequest is one or two sentences in your will or living trust that leave to Truman State 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 Truman State University, a nonprofit corporation currently located at Kirksville, Missouri, 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.

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 Truman 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 Truman 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 Truman 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 Truman where you agree to make a gift to Truman 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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