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Giving

Alums Follow Through on Plans Made as Students

StonebacksWhile at Alma College, Alice Sova-Stoneback '04 and Matt Stoneback '04 not only fell in love with each other, they fell in love with the College.

"We first talked about giving back while we were dating," says Alice, a high school French teacher. "We always said that someday, we'd give back. It was part of our plan for the future."

Through her Trustees Honors Scholarship, Alice saw the direct link between donations and the impact they make in students' lives. Without donors, she says she "wouldn't have had the opportunity to study at Alma."

After touring the Eddy Music Building construction site during a campus visit, the couple says they knew it was time to initiate the plan they made as students. Because of this generosity, Alma is now lucky to have the Stoneback Multimedia Studio.

This gift is especially meaningful to Matt, a deputy sheriff and Alma music education major who spent much of his campus time in this studio. In fact, he even named his private business Eddy Sound.

"What I'm currently doing couldn't have happened without that studio," Matt says. "It's near and dear to me. We want to pass this experience down and help students by providing them the tools they need to succeed."

If you would like to make a difference in students' lives, you can learn more by visiting our web site at www.alma.edu or by contacting Robert W. Murray at 800-291-1312. We look forward to answering any questions you might have about planned gifts that support Alma College.

eBrochure Request Form

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A charitable bequest is one or two sentences in your will or living trust that leave to Alma College 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

Bequest Language

I, [name], of [city, state ZIP] give, devise and bequeath to Alma College [written amount or percentage of the estate or description of property] for its unrestrictred 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.

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 Alma 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 gift 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 receive an immediate federal income tax charitable deduction. 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 Alma as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 Alma 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 Alma where you agree to make a gift to Alma 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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