The Charitable Rollover Gift Annuity Plan

A new tax law allows donors over 70½ to make a charitable contribution to Adams State from their IRA accounts and receive a lifetime of payments in return. This new gift plan combines a charitable gift annuity and a Qualified Charitable Distribution from an IRA. Here’s how it works.

A charitable gift annuity is a simple contract between you and Adams State promising to pay you a fixed amount of money each year for life. The amount paid to you will depend upon your age at the time of your gift and does not change for the rest of your lifetime.

A Qualified Charitable Distribution is a contribution from your IRA to Adams State. You can make a Qualified Charitable Distribution if you are at least age 70½. Unlike most distributions from your retirement account, you pay no income tax on a Qualified Charitable Distribution.

Under the new law, donors can now make a Qualified Charitable Distribution in exchange for a charitable gift annuity. There are some rules and limitations. You can do it only once and there is a limit of $50,000. The entire payment you receive from your charitable gift annuity will be subject to income tax. There is no income tax deduction for your contribution (although there is no tax on your Qualified Charitable Distribution either).

For more information, please contact Adams State Director of Major and Planned Gifts Karen A. Wibrew at 719-587-7165 or kwibrew@adams.edu. “I will be happy to work with you and your advisors to help determine how this new option might work for you.”

Eugene “Gene” Schilling, professor of art, has inspired and encouraged students in the classroom for nearly three decades. This spring, Gene retires with emeritus status and invites art alumni, former and current colleagues, friends and family to his “Eugene Schilling Retrospective: Three Decades of Art,” opening in the Cloyde Snook and Hatfield Galleries on August 25, the first Friday of the fall 2023 semester. The exhibit will span his focus on figurative artwork, construction pieces and collaborative paintings, which have been exhibited in museums and galleries in the U.S., Europe, China and Japan. The opening reception begins at 5 p.m. Following will be an “After Party and Roast” at 7:30 p.m. at Society Hall, located at 400 Ross St., in Alamosa. Gene received the 2008 Presidential Teacher Award, nominated by students who have always connected to his easy-going, yet instructive teaching style. Gene has taught drawing, painting and performance art at Adams State since the fall of 1996. He has motivated undergraduate and graduate students alike to reach their full potentials as artists. He also served as gallery director and art department chair.

Monte Vista High School Special Education Resource Teacher, Presley Garcia ’20, was the first honoree of the monthly Educator Highlight Award from the School of Education. Garcia was recognized for his connections with students and the high standard he sets for the personal and academic growth of students.

Kreg Vollmer ’18 placed third in the National Competition of the American Farm Bureau Federation (AFBF) Young Farmers & Ranchers (YF&R) discussion meet held in Puerto Rico in early January 2023.