Bob Hesse '69
For Bob Hesse '69, the art of giving back started with his Catholic parents. "Even though they had eight children and not a lot of money," he says, "I remember they always had a few extra bucks available to people who needed help."
During high school in Santa Rosa, he'd found satisfaction from volunteering. When Bob landed at Santa Clara University on a state scholarship and financial aid from the university, the electrical engineering major still made time to tutor low-income Latino students in Alviso.
A master's degree in engineering from Rensselaer Polytechnic Institute would have led to an engineering job, but he opted to join Americorps VISTA (Volunteers in Service to America) instead, building homes for low-income farmworkers in Arizona, and then Visalia. Once again, he was getting to know the Latino culture.
"I was living in their community," Bob recalls. "I learned to appreciate their devotion to children, to the church, and their generosity to all people."
Bob returned to school, got an MBA from Stanford, then spent most of his career working on various public work projects for the city of San Francisco focused on finance.
Along the way, he'd invested in stocks and real estate, buying and fixing up homes and working with a group of Latino day workers who have been his friends for years.
At age 72, Bob appreciates SCU's role in his life, and has made a series of charitable gift annuities that are not only tax-deductible but will pay him a fixed income for life. He has also named SCU a beneficiary of an IRA.
Having been a scholarship student himself, Bob is looking to support Santa Clara's LEAD program for first-generation students unable to afford an SCU education.
"I received financial aid when I needed it," says Bob. "And I am grateful I can help future generations of students."
Making a difference for SCU students is simple when you give a gift for the future. To learn how you can make an impact with a gift to SCU, please contact the Gift Planning team at 408-554-2108 or email@example.com.
A charitable bequest is one or two sentences in your will or living trust that leave to Santa Clara University a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.
an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan
"I give to Santa Clara University, a nonprofit corporation currently located at 500 El Camino Real, Santa Clara, CA 95053-1400, or its successor thereto, ______________ [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."
able to be changed or cancelled
A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.
cannot be changed or cancelled
tax on gifts generally paid by the person making the gift rather than the recipient
the original value of an asset, such as stock, before its appreciation or depreciation
the growth in value of an asset like stock or real estate since the original purchase
the price a willing buyer and willing seller can agree on
The person receiving the gift annuity payments.
the part of an estate left after debts, taxes and specific bequests have been paid
a written and properly witnessed legal change to a will
the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will
A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to SCU or other charities. You cannot direct the gifts.
An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.
Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.
Securities, real estate, or any other property having a fair market value greater than its original purchase price.
Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property, or undeveloped land.
A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.
You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.
You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to SCU as a lump sum.
You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to SCU as a lump sum.
A beneficiary designation clearly identifies how specific assets will be distributed after your death.
A charitable gift annuity involves a simple contract between you and SCU where you agree to make a gift to SCU and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
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