Mike and Laura Naumes are making a difference for future SCU students by planning a gift through their estate.
For Mike Naumes '68, his earliest memories of Santa Clara University involve traveling from his family's home in Oregon to campus with his late father, Joseph Naumes '34. While on campus, his father would often visit the Jesuits, with whom he had a strong affinity because of the academic scholarship and job he received from them so he could afford to return to SCU. "My dad enrolled in 1928, but left after two years at SCU due to the Depression," Mike recalls. "He returned to college at the University of Oregon in the fall of 1932 and somehow through the grace of God, the Jesuit Fathers discovered him during a football game between the two schools. They immediately offered him a scholarship and a job to return." Joseph's scholarship was the seed that blossomed into the family's long relationship with SCU. More than 75 years after his grandfather Joseph's graduation, Sean—one of Mike and his wife, Laura's, three children—graduated in June 2013. This brought the grand total of Naumes family SCU grads to 13. Mike's daughter Cynthia graduated from SCU in June 2012. "We feel that Santa Clara is part of our extended family," Laura says. Impacting Lives Although Mike and Laura have given back to Santa Clara for more than 30 years and will continue to do so, they recently decided to make a future gift from the assets in their estate. Naumes_web "At this stage of our lives, a planned gift made the most sense for us. With planned giving, we could make a much larger gift, enabling us to include a number of departments that have affected and influenced our families," Laura says. Also, through their support of scholarships and financial aid, they "can make a huge difference in a student's life," Mike adds. For Mike and Laura, there may be no greater example of the difference even one scholarship can make than their own family—and the scholarship that sparked three generations of life-changing Jesuit education. If Mike and Laura's story has moved you to create your own legacy at Santa Clara, please contact the Gift Planning team at 408-554-2108 and email@example.com to learn more.
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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