FULLER LEGACY PLANNED GIVING NEWSLETTER
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SPRING/SUMMER 2021
SCHOLARSHIP SUPPORTS FUTURE CHRISTIAN LEADERS For more than thirty-five years, Erwin and Marilyn Mooradian supported the Charles E. Fuller Scholarship fund for students in Fuller’s School of Intercultural Studies. The Mooradians’ lifetime commitment to this fund allowed hundreds of Fuller students to complete their education and move on to serve in God’s ministries all over the world. This strong legacy of philanthropy will continue with an extraordinary bequest from the Mooradians. Received in December, 2020, this remarkable gift of over $2 million establishes The Erwin and Marilyn Mooradian Memorial Scholarship Fund. It will continue their steadfast commitment to the education of future Christian leaders, helping Fuller students finish their studies without the burden of debt and go on to impact the world. A portion of the gift will also support the Dr. Paul E. Pierson Chair in World Christianity, which honors the Dean Emeritus of the School of Intercultural Studies (SIS). Erwin and Marilyn embodied the American dream. He was the son of Armenian immigrants from eastern Turkey; her parents were Swedish-American. Erwin graduated from Fuller in 1955 with a Master of Divinity.
+ Erwin and Marilyn Mooradian
His time at the seminary was the beginning of their call to service. They found great joy in helping others. As active members of Bel Air Presbyterian Church in California, they counseled, mentored, and ministered to countless people in need. Erwin served on many boards of organizations committed to ministry, education, and development. Through their generosity with this bequest, their lives of service will continue to bless and benefit Fuller’s students and scholars of tomorrow.
PLANNING CHECKPOINTS Make an Impact at Every Age Generosity takes on new meaning as we grow older. These planning checkpoints will show you how to maximize your generosity to the ministries and causes that matter most to you.
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UPDATE your trust or will to reflect life changes like a marriage or grown children leaving home.
DISCUSS your current giving and long-term philanthropic goals with your family.
DETERMINE your philanthropic goals and include them with other updates to your trust.
MEET with your estate and financial advisors to align your plans. This is a good time to consider a:
MEET with a financial advisor to review your investments and savings, and CREATE your financial estate plan. This is a good time to consider to: l
Establish your Fuller Donor-Advised Fund.
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Make a gift of appreciated securities.
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Create a gift in your will or trust.
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Name a beneficiary to your retirement plan assets.
CHECK regularly with your financial advisor to make sure you are on track with retirement savings. If you’ve already retired, REVISIT your expenses, priorities, and health care needs. This is a good time to consider:
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Gift from your IRA, which may allow you to make a charitable gift without paying taxes on the money. A review of your trust or estate plan to ensure it carries out your philanthropic goals. Legacy letter, an optional companion piece to your estate plan, which offers a chance to share your dreams and your story with your loved ones.
Gift life insurance policies.
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Gifts that pay you income, such as a charitable remainder trust or a charitable lead trust. Beneficiary designations on your assets such as life insurance policies, retirement plans, and bank or brokerage accounts*.
* State laws govern payable-on-death accounts and transfer-ondeath accounts. Please consult with your bank representative or investment advisor if you are considering these gifts.
If you have questions about what’s best for your personal circumstances, please contact us at 626.795.3232 or giftplanning@thefullerfoundation.org The Fuller Foundation and Fuller Investment Management Company can help you achieve your philanthropic and personal investment goals and support causes you care about most.
HOW THE CARES ACT CAN BENEFIT YOU The CARES Act of 2020 created new ways to be generous to public charities, like Fuller. The second COVID Relief Bill extended a couple key provisions of the CARES Act into 2021, and in one case, expanded. For those of us who have a passion and calling for using our resources to help Christ’s ministries, this is the opportunity of a lifetime.
WHAT’S NEW?
WHAT’S THE SAME?
1. An expansion of the universal charitable deduction for cash gifts
Anyone can still give stocks, real estate, or business interests owned for more than one year to Fuller, receive a fair market value deduction against 30% of their AGI, and not pay taxes on capital gains.
The new deduction is $300 for single filers and $600 for married couples filing jointly. This is available to taxpayers who take the standard deduction. This tax incentive is available for cash gifts to qualified charities like Fuller, but not to supporting organizations or donor advised funds.
Those over age 70 ½ can make up to $100,000 in Qualified Charitable Distributions from an IRA account, which does not count as income.
2. An extension of the cap on deductions for cash contributions The CARES Act lifted the cap on annual contributions for those who itemize, increasing it from 60% to 100% of AGI for 2020, and now for 2021. Any excess contributions available can be carried over to the next five years. For corporations, the law raised the annual deductible charitable contribution limit from 10% to 25% of taxable income.
ONE STOP GIVING: FULLER DONOR-ADVISED FUNDS Want to simplify and organize your charitable donations and ensure support of the causes you care about? A Fuller Donor-Advised Fund may be the solution. Find out more in our guide, One Stop Giving: Fuller Donor-Advised Funds. For more information about gifts that pay you income, check out our helpful guide, Retirement Income Plans: Ways to Pay You More, which shows you two ways to support Fuller that also benefit you. Simply return the enclosed reply card for your copies today!
WE CAN HELP YOU REACH YOUR GOALS Are you looking for a trusted investment and financial services partner? The Fuller Foundation and Fuller Investment Management Company (FIMCO) have been helping Fuller alums, supporters, faculty, and friends with their investment needs for over 30 years. We can help you achieve your financial and philanthropic goals in a Christ-centered way. We offer:
We do this through:
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Trusted and tailored personal investment advice.
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Professional asset management.
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Expert charitable planning.
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Complex estate and tax planning.
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A commitment to understanding each client’s specific goals and motives for each investment decision. The Biblical principles of stewardship, compassion and generosity.
Investing through FIMCO allows you to pursue your financial and philanthropic goals while also making a real difference at Fuller and ministries you care about.
To learn more about our services, please contact Todd Derrick at tderrick@fullerinvesting.com or 626.765.8450.
Todd Derrick Vice President, Client Advisory Services 626.765.8450 tderrick@fullerinvesting.com
Dasha Thomas Senior Director of Gift Planning 626.765.8431 dthomas@thefullerfoundation.org
Alyse Lee Director of Stewardship 626.765.8408 alee@thefullerfoundation.org
THE FULLER FOUNDATION • 135 N. OAKLAND AVE. • PASADENA, CA 91102 TAX ID #95-4124436 • FULLER.EDU/GIFTPLANNING © The Stelter Company | Information contained herein was accurate at the time of printing. The information in this publication is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.