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Planned Giving

Life at Concordia in the Eyes of Lyle and Joan Rich

Joan '54 and Lyle '54 Rich give back to Concordia.

Joan '54 and Lyle '54 Rich give back to Concordia.

"Welcome to you. I'm a prehistoric Cobber," says Lyle '54 to the prospective student with an admissions folder in hand.

Concordia has always meant so much to Joan '54 and Lyle Rich, and a "rich" life they have had since coming to Concordia.

The two met freshman year, became engaged senior year and were married a month after graduation. They happily raised four children, only to relocate right back to Moorhead. The couple attended chapel every week at Concordia, interacting with students whenever possible.

"This is where we grew up," says Joan.

While in school the two were greatly involved in campus ministry and choir. In his final years at Concordia, Lyle was president of the student body and student manager of The Concordia Choir.

"You can't put a price on what you receive here," Joan says with a smiling face.

Lyle studied philosophy, continuing on to become a pastor, while Joan studied English and sociology to end up as an elementary teacher.

"The faculty taught the blessing of serving by serving us," Lyle says. "Concordia taught us how to make a living and how to live," he says.

The couple continually supports Concordia financially, and sees the value in supporting the students and faculty in any way they can.

Extend Your Support Today
Contact Trina Hall at (218) 299-3445 or to learn how you can make an impact at Concordia College today.

eBrochure Request Form

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A charitable bequest is one or two sentences in your will or living trust that leave to Concordia College 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 Concordia College, a nonprofit corporation currently located at Moorhead, MN, 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 Concordia College 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 Concordia College 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 Concordia College 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 Concordia College where you agree to make a gift to Concordia College 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.

Personal Estate Planning Kit Request Form

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