Skip to Content

"Too Good to Be True"

Marty Andreas

Marty Andreas

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."

eBrochure Request Form

Please provide the following information to view the brochure.

A charitable bequest is one or two sentences in your will or living trust that leave to Mount Mercy 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 Mount Mercy University, a nonprofit corporation currently located at Cedar Rapids, IA, 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 Mount Mercy University 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 Mount Mercy University 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 Mount Mercy University 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 Mount Mercy University where you agree to make a gift to Mount Mercy University 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

Please provide the following information to view the materials for planning your estate.