Millikin University Legacy Newsletter, Summer 2020

LEGACY S U M M E R

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U N I V E R S IT Y M I LL I KI N

LEGACY SPOTLIGHT Anne Heinle Edsall, Class of 1968

Millikin has always benefited from its unique community of devoted, passionate alumni and donors, and is fortunate to count Anne Heinle Edsall, Class of 1968, among that group.

Anne uses blended giving to support Millikin now and in the future.

As a 1968 graduate majoring in physical education, Anne understands the value of a well-rounded Millikin education. While at MU, Anne was a cheerleader and a member of Pi Beta Phi sorority, playing intramural sports with her sorority sisters. Anne also served as a freshman camp counselor and was the “beanie chair” her sophomore year, in the days when freshmen wore beanies for the first month of school.

Upon earning her degree, Anne taught physical education in Tuscola and Rantoul, Ill., for five years. She went on to earn her master’s degree in counseling, and served the remainder of her career as a counselor, retiring after 29 years as a counselor, including 24 years as a counselor at Western Illinois University in Macomb.

Anne never forgot the start Millikin gave her and donated annually to the Millikin Fund for many years. In 2018, Anne decided to focus her generosity on the creation of a new scholarship, the Kenneth V. Heinle and Anne Heinle Edsall Scholarship, in honor of Anne’s late father, Kenneth Heinle, Class of 1929.

“The scholarship was a way to give to Millikin and to honor my father, who attended Millikin for three years before the Great Depression,” said Anne. Kenneth grew up on a farm in Argenta, Ill., just north of Decatur. “He valued education and encouraged me to attend Millikin.”

The scholarship is awarded to students majoring in physical education; health fitness, and recreation; or nursing, with preference for students from the Argenta-Oreana area. As a physical education major, Anne understands the impact that health and fitness have on our lives.

“Since many of our health issues today are brought on by our lifestyle choices, it’s important to be educated to make good choices for life. These majors address those concerns,” explained Anne.

“Millikin helped me develop as a person, and I would like to pass that forward.”

Anne was also a generous supporter of the Exercise Science and Sport Pavilion, a project that aligned with her belief in the importance of physical fitness and support for majors in the health professions. Her gift resulted in naming the Pavilion’s reception area the Kenneth V. Heinle ’29 Reception Area.

Anne has made her gifts to Millikin in a variety of ways, including gifts of cash and appreciated securities, as well as an estate commitment. She relies on the advice of her accountant to determine how to donate in the most tax-advantageous way.

In addition to her present support, Anne has made a provision for Millikin in her trust, and has designated an annual gift of cash to Millikin from her estate in perpetuity. This kind of giving, which combines present gifts with a deferred gift, is called “blended giving” and provides Millikin with immediate support, as well as ensuring a legacy in the future. As a result of her estate commitment, Anne was inducted into the Investors Society in 2018.

As one might expect, given her philanthropic interests, Anne and her husband, Sam, are very active. Now retired and dividing their time between Florida and Lake Ozark, Mo., the couple enjoy spending time outdoors and being active.

“We love to play tennis, run, bike, golf, kayak, hike, practice yoga, travel and read,” said Anne.

Anne also enjoys staying connected to Millikin.

“I try to return to the Homecoming celebrations most years to see friends,” said Anne. “It’s always nice to see the new additions on campus and the beautiful landscaping, too, when I return.”

Anne and Sam took part in Millikin’s alumni and friends bike tour in Germany and Austria in 2008, and in January 2019, they attended an alumni and friends dinner in Naples, Fla. “Our college years are such an important time for our development,” said Anne. “Our identity and values take shape when we are on our own and away from family influence. College is expensive and I would like to ease the burden a bit for a worthy student, as well as help Millikin financially.”

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U N I V E R S I T Y M I L LI K IN

MAKE A GIFT & RECEIVE INCOME Sound too good to be true? It’s not! Learn how you can make a charitable gift to Millikin University and receive fixed payments for life for yourself and/or another person.

Charitable Gift Annuity

FAQs

A charitable gift annuity (CGA) can be an effective way to meet your philanthropic goals while retaining a benefit for yourself. CGAs can be a smart option for donors on a fixed budget.

Are the payments guaranteed?

Payments are backed by all of the assets of Millikin University, and are guaranteed for your lifetime, and the life of your spouse, if you choose a two-life annuity.

Here is how a CGA works: A charitable gift annuity is a simple contract between a donor and Millikin University. The donor makes an irrevocable gift of cash or appreciated securities to Millikin, designated to the area of the donor’s choice. In exchange, Millikin pays the donor a fixed amount of money on a quarterly basis for the donor’s lifetime. The amount of money paid to the donor is determined based on the donor’s life expectancy and amount of the gift.

Example:

Gary, 71, and Donna, 68, are longtime supporters of Millikin and wish to make a gift in support of the Center for Theatre & Dance. However, the couple are retired and are mindful of their budgetary needs. Working with a Millikin development officer, and in consultation with their accountant, Gary and Donna create a charitable gift annuity with Millikin by making a gift of $25,000 to support the Center. Based on their ages and gift amount, Gary and Donna will receive an annual amount of $1,250, paid in quarterly installments of $312.50. Further, the couple will be eligible to receive a charitable tax deduction of $6,219 the year they make the gift.

What if I outlive my estimated life expectancy?

Even if you outlive the life expectancy on which your annuity is calculated, you will continue to receive payments for the rest of your lifetime.

Who manages the funds?

Millikin is proud to partner with Hickory Point Bank in Illinois to manage this program. Hickory Point Bank oversees the custody and investment of Millikin’s charitable gift annuities to ensure conservative growth and security.

What are the requirements to create a gift annuity with Millikin?

Millikin accepts charitable gift annuity arrangements with donors 65 years or older (for a two-life policy, the younger recipient must be at least 60 years old).

Gifts must be a minimum of $10,000, payable in cash or appreciated securities that can be liquidated by the University.

For more information, or to obtain a personalized gift illustration, please contact Caroline Colby Bruder, Class of 2008, special counsel, at cbruder@millikin.edu, subject line “charitable gift annuity,” or by phone at 217.424.3960.

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U N IV E R S I T Y M IL L IK I N

LEGISLATIVE & STOCK MARKET UPDATES Congress recently passed the Setting Every Community Up for Retirement Enhancement Act (SECURE Act). This law permits those working past the age of 70 ½ to contribute to their IRAs. It also postpones the required minimum distribution (RMD) age from 70 ½ to 72. (This only applies to those who did not reach age 70 ½ by the end of 2019.) The age at which an individual can make a qualified charitable distribution from an IRA remains 70 ½. The total amount for such a gift is $100,000 per year.

The law also ended the so-called “stretch IRA.” Previously, heirs who inherited an IRA from a loved one could “stretch” the RMDs over their life expectancy. As of January 1, 2020, beneficiaries generally must take the RMDs within 10 years. For more information about the SECURE Act and how it could affect your financial situation, please speak to your financial advisor or attorney.

Finally, Congress has recently passed the CARES Act in response to the COVID-19 pandemic. The law contains two key provisions: First, RMDs are suspended for most taxpayers through the end of the calendar year (December 31, 2020), and second, all taxpayers, including those who do not itemize, may take a $300 charitable tax deduction through the end of the calendar year.

If you are invested in the stock market and your investments have grown far beyond their purchase price, you are probably already aware that you will owe capital gains taxes on the investments.

For a tax-savvy way to give, consider using appreciated securities to make a gift. This yields a double tax benefit — no capital gains taxes, and you can deduct the fair market value of the stock — and is a wonderful way to ensure your legacy.

For more information on how to give appreciated securities, speak with your financial advisor, and visit our webpage at:

millikin.edu/planned-giving/gifts-appreciated-securities

COMMITMENT. LEADERSHIP. LEGACY.

JOIN THE INVESTORS SOCIETY Have you made Millikin part of your estate plans? If so, you qualify for membership in our planned giving society. Each year, members meet on campus to hear an exclusive firsthand account of Millikin’s mission and vision from the president. With your permission, Millikin will honor your generous commitment with an induction ceremony and recognition on campus.

millikin.edu/planned-giving

For more information regarding the Investors Society or any of Millikin’s planned giving opportunities, contact:

ALUMNI & DEVELOPMENT

217.424.6383 • alumnews@millikin.edu

CAROLINE COLBY BRUDER

217.424.3960 • cbruder@millikin.edu

The information contained in this publication is not intended as legal or tax advice and cannot be relied upon to avoid statutory penalties. The figures cited in examples are intended to be hypothetical illustrations only and are subject to change. References to estate and income taxes reference federal taxes only. State income and estate taxes may impact your results. Always consult with your financial planner or attorney before implementing any gift.

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U N IV E R S I T Y M IL L I KI N

LEGACY

IMPACT

Millikin University humbly recognizes the gifts that our donors have provided through their estates. We are grateful for the investments they have made in the futures of our students, campus and community, and for the legacies that they leave behind through their commitment to the University and its progress. We wish to honor their lives and memories, and express our heartfelt appreciation for their generosity.

George Prust, Class of 1954, and Ruth McDonald Prust, Class of 1956 George and Ruth were college sweethearts and lifelong supporters of Millikin. During their lives, the Prusts were loyal supporters of the Millikin Fund. The Prusts also created a planned gift of life insurance. This gift provided support for the George M. and Ruth McDonald Prust Scholarship.

Julius W. Hegeler II, Class of 1950 Julius W. Hegeler II, Class of 1950, was born in 1928 and grew up in Danville, Ill. After earning his degree in business administration from Millikin, he served in the Air Force as an F-86 fighter pilot. He co-founded what became the world’s largest contract packager of chemical specialties, Peterson Filling and Packaging. Julius gave generously to Millikin for many years, providing annual funding for campus landscaping and beautification. He also supported the Doug Zemke International Fellows program, the G. William Harner Scholarship Fund and the Dr. Jan Devore Student Lobby in the University Commons.

Julius left Millikin a will bequest in support of the Center for Theatre and Dance, resulting in the naming of the Julius Hegeler II wing of the lobby.

ALUMNI & DEVELOPMENT 1184 West Main Street Decatur, Illinois 62522

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millikin.edu/planned-giving

Questions? Contact Caroline Colby Bruder, Class of 2008, special counsel with Alumni & Development

217.424.3960

cbruder@millikin.edu

1184 West Main Street, Decatur, Illinois 62522