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Planned Giving

Music, Faith and Science Intersect in Couple's Gift

Susan Rovelstad James with her parents

Susan Rovelstad James, left, with her parents, Dr. Homer and Phyllis Rovelstad. Read Susan's inspiring story about her time in the Concordia Choir and how she is carrying on her parents’ legacy here.

An appreciation for the arts, faith and the sciences provided much joy for Phyllis Stenehjem Rovelstad ’45 and the late Dr. Homer Rovelstad. So when the Grand Forks, N.D., couple made Concordia a beneficiary of a trust, they decided to support those passions.

In honor of Phyllis's parents, they established an endowed scholarship for students studying music and religion. In honor of Homer's vocation in dentistry, they will support Concordia's science program.

"We've always believed in giving where it is needed," says Phyllis.

Concordia's Christmas Concert

Concordia's Christmas Concert provides joy to all those who attend. With a passion for music, Phyllis was a member of this special group during her time at Concordia.

Concordia has always held a special place in the Rovelstads' hearts. Phyllis sang in the choir as did their daughter, Susan Rovelstad James ’69, during her time at Concordia. Phyllis and Homer gathered yearly until 2000 with a group of Cobbers, including Phyllis's cousin, Philip Stenehjem ’48.

The Rovelstads cherish those memories and relationships.

"The deep, long-lasting friendships that have developed over the years have often been because of Cobber connections," Phyllis says.

The Rovelstads hope to inspire the next generation of Cobber friendships and do it in a way that will continue their beloved traditions of music, faith and science.

Sadly, Dr. Rovelstad passed away in September. His legacy lives on through his wife, daughter and his generosity toward others—especially students at Concordia College.

Create Your Concordia Legacy
If you would like to make a lasting impact at Concordia College, like the Rovelstads, consider making a planned gift through your estate. There are many ways to give and many gifts can benefit you as well. Contact Trina Hall at (218) 299-3445 or today, to learn more.

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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