"Too Good to Be True"
Marty Andreas, longest serving of Mount Mercy's active board members (36 years) and previous chair of the finance committee, always jokes, "I have been around Mount Mercy so long they call me furniture." But his impact on the university has been so tangible that it is hard not to imagine him being a part of the campus fabric.
Marty moved to Iowa from the Miami, Fla., area in the '70s, and through conversations with a friend, was convinced that his finance expertise and successful business practices could make a huge impact for Mount Mercy in the areas of education, outreach and finances.
In addition to his leadership and expertise in Mount Mercy's outreach and financial landscape, he also discovered another surprisingly easy way to leave a big legacy: a charitable lead trust.
A charitable lead trust is a type of irrevocable trust that provides an income interest to a charitable beneficiary and the remainder interest to a noncharitable beneficiary, which could be the donor, the donor's family members or other specified individuals.
"It was too good to be true," Marty says.
There are several characteristics of a CLT that make it an attractive option. For example, it enabled Marty to select his own beneficiaries, giving him the freedom and flexibility to leave an impact on not only his grandchildren, but also the institution he cares so much about.
"The charitable lead trust allowed me to do two things," Marty says. "I made a meaningful, long-term gift to Mount Mercy, and Mount Mercy was afforded the opportunity to build the three Andreas house residence halls during the term of the trust. And once the trust concludes in 2024, my eight beloved grandchildren will receive the proceeds completely tax-free. A charitable lead trust is an excellent vehicle for funding specific university projects and for meeting one's personal goals."