Willamette Stories

Planning for a Secure Future

Leland Svarverud Jr. ’50 and his wife, Nelda, are a perfect example of how charitable intentions and financial planning can go hand in hand.

After raising three sons, the Svarveruds retired on a small farm west of Roseburg. In the fall of 2001, Leland and Nelda made a gift that “fit into our plans just right.” They contributed $60,000 to Willamette in exchange for a charitable gift annuity. The annuity pays the Svarveruds $4,500 annually – 7.5 percent of $60,000 -– throughout their lives.

Leland always considered himself “lucky” to have received a Willamette education, which served him well through his 14 years as Douglas County assessor. (And without his Willamette education, he might never have met Nelda, who was the chief tax collector for Douglas County!) Nelda and Leland firmly believe that “the best investment you can make is in education” and they take great pride in knowing their gift will support future generations of Willamette students in perpetuity.

The Svarveruds also reaped substantial tax savings from their gift. They received an income tax deduction of more than $22,000 in 2001. And by gifting appreciated stock, the Svarveruds avoided capital gain tax on $27,000 of appreciation. Also, more than $1,500 of their $4,500 annual annuity payments is tax-free.

Gift annuity rates are determined by your age at the time of the gift, and your rate could be as high as 12 percent. For more information, contact Steve Brier, director of planned giving, at 503-370-6022 or at
sbrier@willamette.edu. Or log onto www.willamette.edu/support/planned_giving.