Planned Giving Newsletter Spring 2016
MILY E RUDDEN Pheritage society
Anyone can include a charitable bequest in a will Some people believe incorrectly that philanthropy is reserved for a select few. In fact, a charitable bequest of any size helps Pfeiffer continue its work. Gifts may be left as unrestricted and directed by the university in a manner that best serve the needs of the institution and students, or with a designated restriction to a specific department, endowed fund or special project (created in conjunction with university staff). Charitable bequests can be crafted in a number of ways: • A specific dollar amount • A percentage of an estate • Specific assets, including an IRA or insurance policy Plan your will online An online wills guide and planner is available to help organize estate planning information before documents are finalized by an attorney. To access this free online tool provided by Pfeiffer, visit https://pfeiffer.giftlegacy.com. Ask your retirement account custodian or insurance company for guidance.
Leaving a Legacy: Providing for Pfeiffer through your estate plan The Emily Prudden Heritage Society offers its members, who are friends and alumni of Pfeiffer University, the opportunity to support Pfeiffer through their estate plans. This is often expressed in the form of a bequest that is written into a will or charitable trust. Before former Pfeiffer the 30-40 percent of Americans University trustee Mary who take steps to formalize Elizabeth Puette Francis their final wishes through a died in November 2014, will or charitable trust. They it was unknown to the understand that a number of university that she had state and federal laws provide remembered Pfeiffer in her significant incentives for the will. A longtime supporter preparation of a will, which who served two separate in many cases minimizes the board terms, underwrote costs associated with settling the establishment and their estates after they die. endowment of the In the absence of a will, the Mary Elizabeth Puette Francis Francis Center for Servant state in which a person Trustee Emeritus and Founder Leadership, and received resides resorts to a formula for of The Francis Center for an honorary doctorate Servant Leadership distributing assets. To from Pfeiffer, Mrs. Francis accomplish this, a judge will had decided during her lifetime to extend name an executor and the court will designate her legacy through an unrestricted gift to a guardian. On the other hand, individuals back the Pfeiffer Fund. who craft and finalize their wills have control “Although Mrs. Francis did not notify Pfeiffer at the time her will was completed, many donors choose to do so, which allows Pfeiffer to work with them to assure that their gifts will be realized according to their specific wishes,” said John C.H. Lefler ’66, philanthropic advisor to Pfeiffer University. “Mrs. Francis’s gift was a welcome and appreciated surprise to Pfeiffer. The unrestricted nature of her gift has extended the reach of the Pfeiffer Fund, which supports the education needs of deserving students through scholarship and enrichment opportunities.” Donors who bequeath a portion of their financial or real estate assets to Pfeiffer or other nonprofit organizations are among
over who is appointed executor and legal guardian for dependent children as well as making gifts or asset transfers, thereby reducing estate tax liability. A charitable bequest can be written in a will (or trust) that directs a gift to be made to a qualified exempt charity when a person passes away. “A charitable bequest is one of the easiest gifts to make,” said John Lefler. “It enables people from all walks of life to further the good work of an organization long after they’re gone. Furthermore, it can help save estate taxes by providing an estate with a charitable deduction for the value of a gift. With careful planning, a surviving family can avoid paying income taxes on the assets they receive from an estate.”
An ongoing series of essays written by friends of Pfeiffer University who generously agree to share their reasons for joining the Emily Prudden Heritage Society
A Choice I Have Never Regretted by Rev. Roger M. Gramling ’71 Pfeiffer College was the right choice for me! I was convinced of that from the very beginning of my college search by the kindness and quality of the people, both faculty and staff, whom I met while considering the school. And, after 48 years, I have yet to be disappointed. Of course, my choices for college were somewhat limited by design. Since I planned to go into the United Methodist ministry, I wanted to attend a Methodist school. And Pfeiffer was unashamedly a Methodist school. It introduced me to a United Methodist “connection” much broader than that to which I had been exposed in the small, rural church in Orangeburg County, South Carolina, in which I was reared. Pfeiffer gave me a good liberal arts education and a solid grounding in my chosen major, which well prepared me for the three years in seminary that followed at the Candler School of Theology at Emory University in Atlanta. Pfeiffer also provided me a well-rounded college experience within a community of care and concern and introduced me to critical thinking both within and outside the classroom.
Rev. Roger M. Gramling, Columbia, S.C., has served as a United Methodist minister for 44 years, the past 30 years as executive officer of the South Carolina United Methodist Foundation. For the South Carolina Conference of the United Methodist Church, he’s been registrar of the Conference Board of Ordained Ministry, conference parliamentarian, conference secretary, and counsel for the Church. Additional posts have been as officer of the National Association of United Methodist Foundations, SEJ Association of United Methodist Foundations and South Carolina Planned Giving Council. Current affiliations include the SC Conference Historical Society and SEJ Commission on Archives and History. In 1998, Pfeiffer presented Rev. Gramling with an honorary doctor of divinity degree.
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Pfeiffer opened doors to opportunities that I doubt I would have had at a larger school. Among these was the opportunity to participate in student government in a significant way, eventually serving as president of the Student Government Association and president of the Southern Universities Student Government Association during my senior year. At Pfeiffer I forged friendships with staff, faculty members, and fellow students, several of which have lasted across the years. I have included Pfeiffer University in my estate plan because I want to give something back in appreciation for all that Pfeiffer gave me. I do this in the hope that Pfeiffer may continue to make a positive difference in the lives of future students as it did in my life. I have chosen to remember Pfeiffer through a percentage bequest in my last will and testament. There are other ways to make a planned gift – life insurance, gift annuities, commercial annuities, trusts, retirement plans. Although I work in planned giving and have had experience with various gift plans, the percentage bequest seemed right for me and my estate plan. No one knows how much will be left “at the end of life,” but I wanted Pfeiffer to have a fixed percentage of whatever is left in my estate. It is one way to say “thank you,” Pfeiffer! We bring nothing into this world and take nothing out of this world with us. What we leave behind should work in the best interests both of those we love and the causes that have touched our lives for good.
Emily Prudden Heritage Society – Planned Giving Newsletter / Spring 2016
Scholarship recipients meet their benefactors In January and February, Pfeiffer students had a chance to meet and thank the benefactors of their scholarships over dinner on the Misenheimer campus. A number of these were provided through bequests and gifts made in memory of those who have long loved and served Pfeiffer’s mission. “It was inspiring to meet a successful Pfeiffer graduate who is giving back to help make my nursing career possible,” said Natalie March ’16
Charlotte Maness represents her family with Torrianna Foster ’16, recipient of the Dr. J. Horace Maness Memorial Endowed Scholarship, named for the late emeritus professor of religion.
Marilyn and Rev. Roger Gramling ’71 met Amy Morgan ’17, recipient of the Gramling Annual Scholarship.
of meeting Philip Passanante ’81, alumni board and Emily Prudden Heritage Society member. His Passanante/Luscausi/Stammetti Family Annual Scholarship supports a nursing student. “It only makes me want to work harder.” A complete list of endowed and annual scholarships is available online, https://community.pfeiffer.edu/endowments-scholarships.
Pfeiffer senior Janna Featherstone was able to thank the patrons of both scholarships she receives: Former president and first lady, Dr. Zane and Joan Renger Eargle, and her brother James Renger, who memorialized their parents through the John F. and Helen Dietrich Renger Endowed Scholarship; and Ann Blackmore Key, former Advancement staff member, and Paul Key, retired faculty member, who provided the Blackmore and Key Endowed Scholarship in memory of their late parents.
Carolyn Dial met Mary Margaret Brown ’16, who is a recipient of the Steve H. Dial ’84 Memorial Endowed Scholarship honoring the son of Carolyn and the late Dr. Steve C. Dial ’59, emeritus professor of biology.
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Emily Prudden Heritage Society – Planned Giving Newsletter / Spring 2016
Creating a legacy: The Judy C. Hash ’72 Endowed Scholarship Pfeiffer University remained a special place for Judy Hash after she graduated in 1972. According to her father, she was always eager to take a drive to Misenheimer, specifically to Pfeiffer College as it was known when she was a student, while visiting family in Greensboro, N.C., from her home in Richmond, Va.
in social work, particularly those focusing on child welfare, Judy’s field of expertise for more than 30 years.
For this reason, after Judy died last September, Edwin Hash decided to honor his daughter’s memory by establishing a scholarship bearing her name at her alma mater. The Judy C. Hash ’72 Endowed Scholarship will benefit up to four Pfeifer students every year who intend to pursue careers
Mr. Hash expressed to President Colleen Perry Keith that although he wishes he’d created the scholarship during Judy’s lifetime so she could be aware of its existence, he is glad for the opportunity to sustain her legacy by supporting Pfeiffer’s students.
Why join the Emily Prudden Heritage Society? Are you familiar with planned giving but perhaps not its benefits? With some careful information sharing and planning, this type of gift is quite simple to understand and establish, making it possible to create a legacy in your will or trust, increase lifetime income for you and your spouse and pass on property to your heirs through a charitable plan. To learn more about the benefits of planned giving, contact John C.H. Lefler ’66, philanthropic advisor, (704) 463-3034 or (800) 338-2060, john.lefler@pfeiffer.edu.
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