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Enhancing the Truman Experience

Steve RoseSteve Rose takes every opportunity to give back to his alma mater, Truman State University. Most recently, Rose made a lead gift of $100,000 toward a special fund-raising initiative to name the University's main performing facility in the Ophelia Parrish/Fine Arts building in honor of retired faculty member James G. Severns."The Severns Theatre Campaign is an opportunity for colleagues, students and friends to show their gratitude to Professor Severns for 31 years of enlightened, motivating, guiding and inspiring classes and productions," said Rose. Resources from the campaign will be directed to an endowment, and annual earnings will be used for equipment, technology and enhancement, refurbishment, and ongoing maintenance of the theatre.

A 1969 Truman alumnus, Rose fondly remembers his days at Truman."Our college days were priceless," said Rose."Today, college days cost more." He knows firsthand the struggle that many students face in funding their education at Truman."Like most students, I had to work constantly and take government loans to stay in school," said Rose, who in 1994 established the Steve Rose Annual Performing Arts Scholarship to help students who need assistance to continue their studies. "I've met most of my scholarship beneficiaries, and they are bright, wonderful, talented, and grateful...Investing in the futures of these bright young scholars gives me an intellectual and emotional joy that I simply can't put into words."

Rose also gives his time to Truman. "I serve Truman because I see Truman's students, faculty and leaders promoting mutual ideas...responsible and caring leadership, honesty, that higher education is both satisfying and rewarding, that creativity should be encouraged, that entrepreneurialism is healthy, that serving others is our culture and that learning is external." Not only has Rose served on Truman's Alumni Association Board and the Truman State University Foundation Board, but he is also active with the Mid-Atlantic Alumni Chapter. For his service and generosity, Rose was the 2006 recipient of the President's Leadership Award.

Through his service to Truman, Rose understands the increasing need for alumni and friends to support Truman through annual gifts and by including Truman in their estate plans. In addition to his lead gift to the Severns Theatre Campaign and his scholarship, Rose has also provided for Truman through a bequest in his will. "I see our funding scholarships as investing in the mission of Truman, and our keeping Truman in our wills as nothing more than paying interest on the debts of gratitude we owe Truman for our education and the people of Kirksville for their hospitality and patience."

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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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