I have been able to participate in several education programs provided by the
National Foundation. Whether we were discussing the direction & purpose of
Triangle or discussing our personal experiences an opportunity for growth was
always provided. The skills and ideas I have gained from these programs have
given me a renewed focus for our chapter.
I know these opportunities are available to me and members of my chapter because
of the many alumni that donate generously to the Foundation. That is why when I
was invited to become a member of the President’s Men I quickly signed up. It is
my way of doing what I can to help support these valuable opportunities. Some
day soon I hope I can do more by becoming a member of the Founders’ Club.
Don Hatfield msu88:
As an undergraduate at Michigan State, Triangle provided me with the unique
opportunity of personal growth that stretches far beyond the boundaries of the
classroom. Engineering school often stressed knowledge of the discipline, but
skipped the most important part of the puzzle – I must successfully work with
other people to make that knowledge pay off. They’re right – it’s not what you
know. It’s how well you can work on a team, or how convincing you can be to get
others to share your vision.
If I could tell younger Triangles two things, they would be:
If you don't have a will, GET BUSY and get it right away, especially
when you have children involved!
Even if your estate may have a wife and kids involved who might end up
requiring all the resources of your estate, there are still ways to provide
for Triangle in your will.
Now that I’m an alumnus, I have a family, a career, and other volunteer work.
But I never forgot Triangle’s impact on my life. I continue my dedication in an
effort to “pay it forward” to future Triangles. I do this not only by
volunteering at my Chapter and the National level; I include Triangle in my
contributions and even estate planning.
Jim & Elizabeth Craig mn69:
Triangle has been a big part of Jim and Elizabeth Craig’s professional and
personal life both as undergraduates and alumni. Their decision to establish the
James and Elizabeth Craig Civil Engineering Scholarships was an easy one and is
significant in many ways. Jim's love of Civil Engineering, particularly
Geotechnical Engineering, and the need for top-notch professionals in this field
led them to cestablish these scholarships through the Triangle Education
Foundation.
To this day, Jim and Elizabeth still keep in touch with a group of Triangle
alumni and their wives. They get together once a year after the holidays for a
special dinner. Throughout the many years, they have reunited with some of his
fraternity brothers’ families for sailing, family celebrations such as
children's graduations and other events. The long time friendships have been a
most significant part of the Triangle experience.
Jim attended the University of Minnesota where he immediately joined Triangle
Fraternity. He graduated with a degree in Civil Engineering specializing in
Geotechnical Engineering (soil foundation analysis). Jim has worked in this
field for over 30 years and is currently a Senior Geotechnical Engineer with
Barr Engineering Company in Minneapolis, MN. Jim and Elizabeth Craig reside in
Eden Prairie, MN and are about to celebrate their 30th wedding anniversary.
James Rust pur56:
As universities across the country set the tuition for the 2003-2004 school
year, we are once again seeing double digit increases in tuition. Over the past
8 years the average tuition bill has increased more then 8% a year, well over
double the rate of inflation. A college education is quickly becoming out of
reach for a number of individuals.
Jim Rust pur56 saw this need over ten years ago when he endowed the Rust
Scholarship Fund with the Triangle Education Foundation. For over ten years now
the Foundation has been able to award sizable grants to young men in need. These
funds have enabled many Triangles to focus on their academic accomplishments,
involvement as leaders of Triangle, and investment into their future.
Due to Jim’s wise investment in Triangle, the yearly dividends are plentiful. To
date, close to a dozen men have benefited from the Rust Scholarship Fund,
including this year’s winner Chad Whitman from our Iowa State chapter.
Due to wise investing, the Foundation is able to increase the award size for the
2003-2004 year by $500. Although not keeping up with the skyrocketing cost of
higher education, Triangle is making a dent.
Brian Lally csu97:
I received a Founders’ Club letter asking for donations and was about to throw
it away, but it caught my attention after seeing Guido uwm96 and David
Fleischhacker’s minn95 names on it.
WHAT A GREAT IDEA!!!
My thinking maybe flawed but this is how I thought…I am a recent graduate from
college and have very little money (especially working as a ranch hand since
getting married to a rancher) so I don’t have much to give back to the
Fraternity. I knew I would not even be able to donate at the Bronze Level
($250+), so I did not donate at all. I now look back at this thought and see how
stupid it is, but I believe I may not be in the only one who thinks this way.
I think the new Pearl Level is a great idea for those new graduates that do not
have much money. My check is in the mail!
Alan & Jo Silver ucla61:
Triangle played a very important role in my college life. Like most house
freshmen, the fraternity was my first home away from home. My Big Brother and,
yes, even the Pledge Master, provided me with valuable guidance and direction in
both my academic and social development. The opportunity to develop, along with
my pledge class was an invaluable experience. Once initiated, we were thrown
into various leadership roles – opportunities we would have otherwise not
experienced.
Several years ago, I decided to try to repay the Fraternity, in some way. I was
fortunate enough to not need a scholarship or a full-time job to get through
college, but others can’t. I dedicated a percentage of our estate to the
Triangle Education Foundation, to establish a permanent scholarship fund in my
wife Jo’s and my name. I will continue to make regular donations to the
Education Foundation, and I hope you all do, too. I want to challenge the pledge
class of ucla61 (and you know who you are) to also bequeath a percentage of your
estate to Triangle National.
Donor Spotlight
Foundation Announces New Endowed Scholarship The Foundation is pleased to announce its newest endowed scholarship, which
will be offered for the first time during the 2004-2005 school year. Thanks to a
very generous gift from Peter and Barbara Bye, the Foundation will begin
offering a $1,250 scholarship to deserving Triangles each year.
Peter, a Cornell alumnus, and his wife Barbara care strongly about helping
others out and believe in the value of the Triangle experience. They are both
seasoned business consultants with corporate executive backgrounds and a strong
interest in personal and organizational leadership. Peter consults with
corporate executives daily on various leadership qualities, the very same
qualities Triangle works to provide its members every year.
As an endowed fund, this scholarship will enable many future generations of
Triangles to make school more affordable and gain the invaluable leadership
experience Triangle provides. The Foundation is very grateful to the Bye’s for
their generosity and strong commitment to the Foundation.
If you are interested in establishing a scholarship in your name or to honor
another, please contact Scott Bova with the Triangle Education Foundation at
317-705-9803 or at
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It is a very simple process that will benefit many young Triangles to come.
About the Living Oak Society
Just as the mighty oak tree needs nourishment to maintain its strength and
keep growing, the Fraternity needs the same “plant food”. Through the generosity
of many the Fraternity is the strongest it has ever been. New branches being
formed on such campuses such as Texas A&M, new leaves being sprouted with each
initiation class, and roots growing stronger with our growing ranks of alumni
make Triangle Fraternity a very strong oak tree.
As retirement and estate planning have become so prevalent in today’s society as
a way to pass on a greater percent of one’s estate to their family, as well as,
provide “plant food” for the charities they care the most about. Thankfully for
Triangle, many alumni have made it a priority to provide for the Fraternity in
their plans.
In response, the Foundation has established the Living Oak Society to recognize
those alumni that have made Triangle a part of their retirement and estate
plans. We know many alumni have done so without even being asked and without
identifying themselves, but we want to make sure you are properly recognized for
your support, as well as, share with others your deep convictions in Triangle.
If you already have made a planned gift to Triangle or if you wish to find out
more on how you and your family can receive tax benefits from such a gift,
please contact the Foundation’s President, Scott Bova at (317)
705-9803 or via e-mail at
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You can play a part in ensuring Triangle’s tomorrow through gift planning
today. Depending on the arrangements you choose, you can also:
reduce your income taxes
avoid capital-gain tax
increase your spendable income
retain payments for life
achieve no-cost, worry-free asset management
The Triangle Education Foundation staff welcomes the opportunity to work with
you and your legal and financial advisors to establish individual deferred gift
arrangements. Please be sure to notify the Foundation if you are planning to
include or have already included Triangle in your estate plans.
As with outright gifts, deferred gifts may be restricted and designated to
specified programs based on the donor's wishes, or they may be left unrestricted
to give the Foundation the flexibility to meet unforeseeable needs. To learn
about the various planned giving vehicles, please select from the options listed
below or contact:
Scott Bova, CFRE
President
Phone: (317) 707-9803
E-mail:
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Bequests
Whether your bequest to the Triangle Education Foundation is in the form of
cash, securities, real estate, or other property, the gift is deductible for
federal estate tax purposes, with no limit on the amount of your charitable
estate tax deduction. Your bequest to Triangle does not generally incur state
inheritance or estate taxes. For larger estates, a bequest will save the donor
up to fifty-five cents on the tax dollar. A gift through your estate provides
the following benefits:
The opportunity to make a major gift while preserving assets during your
lifetime;
Reduction in federal estate taxes;
Significant, and much appreciated, support for Triangle in your name and/or area
of specific interest.
To make a bequest to the Foundation you may create a new will, add a codicil to
your current will, include the Triangle Education Foundation in your revocable
trust, or name the Foundation as the residual beneficiary of your qualified
retirement plan or insurance policy.
There are two principal types of bequests: specific and residuary. In a specific
bequest, your will specifies that a dollar amount or a particular asset, such as
securities, real estate or tangible personal property. In a residuary bequest,
your will gives the Triangle Education Foundation all or a percentage of the
remainder of your estate after the payment of estate-related expenses and other
specifically named legacies.
Naming Triangle as a beneficiary of your IRA, Keogh, tax-sheltered annuity,
qualified pension or profit-sharing plan is a good way to make a bequest. If
allowed to remain in your estate, your plan will be subject to both estate and
income taxes when received by your heirs. For larger estates, heirs will receive
less than thirty cents on the dollar of retirement plan assets. Designation of
these assets to the Foundation will provide Triangle with their full value.
The laws governing bequests vary from state to state. It is important that you
review your will with your attorney or advisor to make certain that it meets all
legal requirements and adequately reflects your desires regarding the
distribution of your estate.
Life Income Gift
Charitable Gift Annuity
A charitable gift annuity is a simple contract between you and the Triangle
Education Foundation. You make an irrevocable gift of at least $5,000 and
receive a fixed, guaranteed income from the Triangle each year for your life
and/or the life of another person of your choosing. At the end of the annuity
period, the remaining value of the annuity gift will be allocated in your name
to the Foundation.
You can start drawing the income immediately or defer the start of the annuity
payments until a later date. Because the payments can be deferred, gift
annuities are a popular vehicle for supplementing retirement income. Annuity
rates are based on the age of the annuitant(s) at the time of the gift and on
whether the income payments begin immediately or are deferred.
With a current or deferred charitable gift annuity, you will:
receive an income stream for life that will be backed by the assets of
the Triangle Education Foundation.
receive an immediate income tax deduction upon making the gift
reduce capital gains taxes, which can spread out over a number of years
receive a portion of each annuity payment as a tax-free return of
principal
leave a legacy by making a generous gift to the Triangle Education
Foundation.
Deferred-payment Gift Annuity
The deferred-payment gift annuity involves the current transfer of cash,
marketable securities, or under some circumstances, tangible personal property
or real estate, in exchange for which the charitable organization agrees to pay
the donor an annuity starting at a future date - usually at the donor’s
retirement. The gift can consist of a single transfer, a series of transfers, or
periodic transfers to the plan in high-income years.
You realize an immediate charitable deduction for the gift portion of each
transfer to the deferred gift-annuity plan. A portion of each annuity payment,
when the payments begin, will be a tax-free return of principal over the life
expectancy of the annuitant. When appreciated, long-term, capital-gain
securities are transferred, any reportable capital gain is spread out over the
donor-annuitant’s life expectancy.
Charitable Remainder Trust
A charitable remainder trust can provide you or you and your spouse with income
for life, or for a specified term of years, while providing a charitable income
tax deduction. If you fund the trust with appreciated securities, you can avoid
capital gains taxes. You also have the option of establishing and naming an
endowed fund to benefit a department or program of your preference at Triangle.
At the time of the trust’s termination, the principal becomes part of Triangle
Education Foundation’s endowment. Charitable remainder trusts offer the greatest
flexibility of all the different types of planned gifts. The chief benefits
include:
life income to one or more beneficiaries
increased income on low-yielding assets
a substantial charitable income tax deduction
capital gains tax avoidance on the transfer of appreciated securities or
real estate
reduced estate taxes
professional investment management
the opportunity to establish an endowed fund at Triangle Education
Foundation or to provide a substantial benefit to Triangle upon termination
of the trust.
Retained Life Estate
One of your valued possessions, your home, can become a valued gift to the
Triangle Education Foundation even while you are still living in it, and even if
you want your spouse or other person to live there for life. This arrangement is
called a retained life estate.
By deeding your home to us now, you can obtain a sizable income tax deduction
this year. The amount depends on the value of the property and your age (and the
age of any person given life use). In addition, you retain the right to rent
your home or make improvements to it. You continue to have responsibility for
maintenance, insurance and property taxes.
Any personal residence qualifies for this tax deduction including a farm (with
or without the house), vacation home, condominium, even stock in a cooperative
housing corporation. Your gift to us must be an irrevocable remainder interest
where after your life use and that of any survivor, Triangle receives the
property outright.
Charitable Lead Trust
A charitable lead trust allows you to transfer substantial assets to your family
at greatly reduced estate and gift tax cost. The concept is simple. You make a
gift to a lead trust. The lead trust makes payments to the Triangle Education
Foundation for a term of years. At the end of the term, the assets are
transferred to your family. However, you make the gift to your family in the
year the trust is created. Therefore, you are entitled to a substantial
deduction because of the charitable interest and the time delay before your
family enjoys the assets. A trustee independently manages the trust. With a
charitable lead trust, you will:
reduce estate tax liability because the trust assets will be removed
from the donor’s estate
benefit from expert trust management provided by the same professionals
who manage the Institution’s endowment
make a generous gift to the Triangle Education Foundation
Gift of Real Estate
You can make a gift of residential or commercial real estate to the Triangle
Education Foundation and receive substantial financial benefits. It is important
to discuss the proposed gift of real estate with the development staff at
Triangle to make certain that the property is marketable and debt-free. We can
provide you with a detailed illustration of how a proposed gift of real estate
might work for you under nearly any given circumstance.
Gifts of Retirement Benefits
Tax-deferred retirement plan benefits are great sources of retirement income,
but not always a good choice for making gifts to children and grandchildren. You
may consider using retirement plan benefits to make a significant gift that will
support Triangle. And because of the estate and income tax treatment of
retirement plan benefits, the cost of your gift to your estate and heirs is
often relatively small.
Retirement-plan benefits include assets held in Individual Retirement Accounts
(IRAs) and assets held in accounts under 401(k) plans, profit-sharing plans,
Keogh plans, and 403(b) plans. Income taxes on retirement-plan benefits are
deferred but not avoided. That means as these assets are withdrawn during
retirement by the account owner or the account owner’s spouse, they are subject
to income tax. In addition, retirement-plan benefits left to children,
grandchildren, and other beneficiaries at the death of the account owner are
subject to both income tax and estate tax. This combination of income taxes and
estate taxes can result in a tax-hit equal to 75% or more of the retirement-plan
benefits.
The Pension Protection Act of 2006 & Triangle Education Foundation
A new tax-saving opportunity was signed into law by President Bush on August 17,
2006. The Pension Protection Act of 2006 gives new tax incentives for charitable
gifts for donors who are 70½ or older, or will turn 70½ on or before December
31, 2007.
The new law allows you to use funds from your IRA to make a lifetime charitable
gift, tax free.
The benefits to you:
• You may be receiving minimum distributions from an IRA as part of your
retirement income since you turned 70½. You may not need these IRA
distributions, but by law you have to take them and pay income tax on them.
Under the new law, if you transfer those minimum distributions to your favorite
charity, you will avoid paying income tax on them.
• Your transfer will not generate a tax deduction, so you do not have to itemize
this tax deduction to receive the benefit.
A couple of rules apply:
• You are currently aged 70½ or older, or will be on or before December 31st,
2007
• You make your gifts on or before December 31st, 2007
• Your gifts do not total more than $100,000 per year (thus you have a maximum
allowance of $200,000 by December 31st, 2007)
• Your funds are transferred directly from an IRA or Rollover IRA
• You make your gift to a public non-profit charity (such as Triangle Education
Foundation)
Making a gift to the charitable organization of your choice is easy – please
contact your IRA custodian for the necessary transfer forms.
Gifts of Life Insurance
A gift of life insurance can take several forms. You may wish to name the
Triangle Education Foundation as the beneficiary of a group policy or a policy
you own. In that case, the proceeds of the policy would pass to Triangle at your
death.
If you hold a fully paid-up life insurance policy that you no longer need, you
may transfer ownership of the policy to the Foundation. You then are entitled to
an immediate charitable income tax deduction for a portion of the value of the
policy.
The Future Begins With Us:
