Gift Annuity Partnership With UCC Church
Until recently, alumni and friends of Doane College living in California, as well as several other states, have been unable to acquire a gift annuity with the college. The administrative and investment rules, and in some cases the fees, have prevented Doane College from offering gift annuities in those states.
As a member of the UCC Council for Higher Education, Doane College has formed a partnership with the United Church of Christ that now enables the college to offer annuities in states that have been unapproachable in the past. Under this new partnership Doane can be designated as a 100 percent beneficiary of a UCC Charitable Gift Annuity.
A gift annuity is a contract between a charity and the donor that specifi es a guaranteed income for life, or a period certain, resulting from a gift of cash or securities to the charity. The gift generates an income tax deduction and a portion of the income may be tax free.
The American Council on Gift Annuities sets a uniform rate used for calculating the income from a gift annuity and this same rate is used by both Doane College and the UCC Church. Both utilize the same government data that is used to calculate the income tax deduction as well as the breakdown of taxable and non-taxable income.
The result is that Doane College alumni and friends may now utilize this alternative method when deemed necessary. We are delighted to partner with the UCC Financial Development Ministry.
– DAN MEYER
Director of Planned Giving
How can families plan for college expenses?
College costs rise every year and families are looking for new and creative ways to pay for college. A college savings plan may be the answer. These plans come in many forms, shapes and sizes with several options with regard to the length and the amount of investment. The good news is this is a way that other family members such as grandparents can contribute funds for the family’s education.
Each state has a 529 Savings Plan. Currently money in these plans grows tax deferred and is tax free when withdrawn if used for qualified educational expenses such as tuition, certain room and board and required supplies. Funds can be used nationwide at any eligible education institution. The plan for Nebraska is the College Savings Plan of Nebraska. For more information on this college planning tool, go to www.PlanforCollegeNow.com or check www.collegesavings.org to find the plan for your state.
Doane Fund
For the past four years, Heather Hoffart has spent two nights a week calling Doane alumni. Sometimes, she was hung up on or laughed at, but she also made some amazing connections with past Doane students. She and her coworkers got to hear what Doane was like in 1949, 1973, and 1995. They heard funny, eye-opening, and jawdropping stories.
India Williams learned what it meant to be part of the “Doane family.” In more than one instance, she was invited to someone’s home. At alumni events, she met donors face-to-face. She knows the benefits that happen on campus because of the Phone-a-Thon; the groups that she participates in directly benefit from the money raised.
Ebony Parks felt a direct benefit from this program as well. It brought her out of her shell and taught her to relate to all kinds of people. It surprised her to see how generous alumni are to Doane ; she now understands why it is so important to give back, simply because others gave back to make her experience at Doane valuable.
These three graduating seniors left behind their own legacy. Through their phone calls and pleas for annual support, they raised more than $100,000 for Doane while learning a few things about people and life along the way.
The small gifts do add up. The impact of alumni dollars keep the campus humming along.
– KARI NOTT ’03
Assistant Director of The Doane Fund