Giving to Wheaton College

I can’t say enough about the peace we feel, knowing that the assets God has blessed us with over the years will be distributed to our heirs and will benefit Wheaton, too.

Giving to Wheaton College

We wanted a way to benefit Wheaton and give back in a tangible way, as well as plan for a secure retirement and take care of our children after our passing in the most tax effective way.

Giving to Wheaton College

We have been very impressed by and pleased with the consistent evangelical influence of Wheaton and its students. We are thankful to play a small part in the programs of Wheaton College.

Giving to Wheaton College

We are grateful for the academic opportunities that Wheaton provided for us and our family... [Our] trust will assist Wheaton in maintaining strong academic and spiritual standards.

Tim and Cindy Jacobson

Tim and Cindy Jacobson

Blanchard Society

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Al and Janet Lindsten

Al and Janet Lindsten

Blanchard Society

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Ed and Betsy Pearce

Ed and Betsy Pearce

Blanchard Society

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Chuck and Helen Kennedy

Chuck and Helen Kennedy

Blanchard Society

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Example: Charitable Remainder Trusts

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Jack and Joanna Hillier (both 65 years of age) own a summer cottage in Michigan. Although they enjoy having the ability to share the cottage with family and friends and have a place to vacation, the cottage maintenance is expensive, time consuming, and often a hassle. The cottage has a fair market value of $500,000 and is completely debt free.

The Hilliers have been thinking about selling the cottage, taking the profit, and avoiding all the typical maintenance problems. However, the Hilliers' basis in the cottage is $150,000 and they would incur significant capital gains taxes in the sale.

Here’s how Jack and Joanna can transform their cottage into a lifetime income stream for them and make a significant gift to Wheaton College.

  • Jack and Joanna donate the cottage to a chartable remainder trust.
  • The trustee sells the cottage free of any taxes since the trust is tax-exempt.
  • The trustee reinvests the proceeds into a diversified portfolio.
  • The Hilliers receive a current charitable income tax deduction of approximately $145,000.
  • After the cottage is sold, Jack and Joanna receive an annual income of 5% of the fair market value of the trust assets, as revalued annually. Thus, their initial annual payment will be $25,000.

Jack and Joanna Hillier (both 65 years of age) own a summer cottage in Michigan. Although they enjoy having the ability to share the cottage with family and friends and have a place to vacation, the cottage maintenance is expensive, time consuming, and often a hassle. The cottage has a fair market value of $500,000 and is completely debt free.

The Hilliers have been thinking about selling the cottage, taking the profit, and avoiding all the typical maintenance problems. However, the Hilliers' basis in the cottage is $150,000 and they would incur significant capital gains taxes in the sale.

Here’s how Jack and Joanna can transform their cottage into a lifetime income stream for them and make a significant gift to Wheaton College.

  • Jack and Joanna donate the cottage to a chartable remainder trust.
  • The trustee sells the cottage free of any taxes since the trust is tax-exempt.
  • The trustee reinvests the proceeds into a diversified portfolio.
  • The Hilliers receive a current charitable income tax deduction of approximately $145,000.
  • After the cottage is sold, Jack and Joanna receive an annual income of 5% of the fair market value of the trust assets, as revalued annually. Thus, their initial annual payment will be $25,000.