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Truman Faculty Member Makes Generous Planned Gift Commitment

ShafferThe joy and affection that Dr. Fred Shaffer, professor of psychology, holds for his students, his colleagues and the graduates of Truman State University is apparent within moments of meeting him. There is an unmistakable warmth as he explains what this University means to him. He is also quick to agree that the definition of family is not exclusive to those with whom you share the same DNA. It is a connection that is far more meaningful. "Truman has been my family and my students have been my children since I arrived in Kirksville in August 1975," Fred says.

An accomplished scholar, educator and researcher, Fred attended Claremont Men's College before earning his M.S. and Ph.D. from Oklahoma State University. He is a respected Truman faculty member and board chair for the Biofeedback Certification International Alliance. His expertise in biofeedback has taken him around the globe teaching about the subject and its clinical applications.

In the nearly four decades that Fred has been a part of the Truman family, he has strived to ensure that students are exceptionally well-educated and have the opportunity to be transformed by their Truman experience. His understanding of the power of research experiences for undergraduates has motivated him to invite nearly 40 students annually to work as members of his research team. And while he is providing a rare opportunity for his students, Fred believes he has received the greatest benefit. "Our psychology majors have made the last 36 years of my life exceptional through their engagement in my classes and involvement on my research team," he says.

Preserving the "Truman Experience" As state support for higher education continues to rapidly diminish, Fred is helping preserve the transformational experiences that have become a distinctive part of a Truman education. "The reduction in state funding has convinced me of the need to protect our support for our students," he says. Fred provides loyal support with annual gifts to the Truman State University Foundation; however, current budget conditions have motivated him to also support Truman through a substantial planned gift commitment. "I want to support students majoring in psychology to be able to travel to research conferences and to study abroad," he explains. "My estate can help support activities like research and study abroad that contribute to Truman's excellence."

A planned gift commitment through a combination of a bequest in his will and designating Truman as the beneficiary of life insurance will establish two important funds. The Dr. Erik Peper Research Fund will provide support for student travel to research conferences. It also honors one of Fred's first mentors in biofeedback and three decades of collaboration between their research team. The Donald and Nancy Moss Study Abroad Scholarship is inspired by Donald and Nancy's extensive international travel and generous support for Fred's students at international conferences. This fund will provide greater access to study abroad experiences for psychology students.

Through this generous gift commitment, Fred is demonstrating his concern for Truman's future while further elevating the University to the status of a family member. "The two planned gifts have given me the peace of mind that I have helped to look after future generations of Truman students," he says.

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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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