G0 530 add up to the hundreds and thousands we need E ain (Gidney) Briem of Ogden is one of many WSC alumni who, year Edith Briem happily recalls her days at Weber. She is typical after year makes contributionsof less than $50 to the college, and only receive a small receipt and a bit of personal satisfaction in return. Mrs. Briem was an honor student and received an associate degree in 1924. She taught first, second and third grades in Grouse Creek (Box Elder County), Utah, until the depression years when there was a ban on married women teaching school. She reminisced about her days at Weber; the annual hikes to Mt. Ogden, dances and parties. “Aaron Tracy was president of the college back then, and we had wonderful teachers: Blaylock in History and Lind for Geology," she recalled. of most of the financial donors who give what they can because they love WSC and want to help ise iS tables. If she is in a 55 percent tax bracket, including both state and federal taxes, she saves $18,040 in taxes; so the trust actually costs her itaccumulates in your child's name rather than your own. $31,960. If the assets originally cost her $10,000, she saves an additional $8,000 in capital gains taxes, reducing the trust's final cost to $23,960. Assuming the trust earns 12 percent annually, including capital There is a financial planning gains, the student gets $5,600 the Think of your children as a tax ) shelter! Since children are taxed at a lower rate than their higher-income parents, you can save money when “:"s elit ee “} technique know as the Charitable Remainder Unitrust which can take care of your child's college expenses, give you a charitable deduction, and at the same time provide much needed cash for WSC. This concept may be inappropriate for those who just wish to cover the cost of college, but it is very satisfactory for those who wish to shelter some income and assist Weber in maintaining a quality education for its students. Here's how it works: Establish, with the help of your attorney and trust officer at your bank, a four year charitable remainder unitrust. Under this plan, WSC at least 5 percent first year, $5,645 the second year, $5,690 the third year, and $5,735 the fourth year, a total of $22,670. After the final payment, $51,619 remains as principal to establish a scholarship fund in the family’s name. If the $50,000 figure leaves you feeling left out of this concept, don't despair. A variation of the charitable remainder unitrust allows smaller yearly contributions spread over a longer period. interest each year. The interest from the trust goes to your child who has enrolled at WSC, and you get a tax deduction for your initial gift. After the four year period, or another pre, determined time, the principal and ' annual interest goes to WSC to establish a scholarship in your name. In a hypothetical example, a grandmother establishes a trust by giving $50,000 in appreciated assets to WSC and designates a grandchild to receive 10 percent of the assets each year for four years. The grand- mother gets a $32,800 charitable deduction based on the IRS actuarial one asked me to contribute to Weber's growth,” she smiled. “I just want to see it grow, and I imagine that they all should contribute,” she said emphatically. “Over half of our donors are loyal and generous alumni who make modest, but consistent gifts,” said Development Director, Don Spainhower. “And we appreciate them!" Spainhower said these small dona- tions are the foundation of WSC's — giving program and are needed to continue making Weber great. from $412 Save for child's education Give a gift to Weber State terest, when your child enters college. That amount is also available 15 years of $2,000 each gives $31,000 to WSC & $28,000 to your child to pay college bills if needed. At the end of the 15-year period, the college would receive about $31,000, while about $28,000 would have been paid to your child. If you decide to use the unitrust, well take care of those added needs. If you have questions regarding a Charitable Remainder Unitrust, to amount every year. You can deposit achieve tax deductions (shelter), provide a college education for your - more as your income increases or skip a year if you can't spare the children, and establish the perpetuation of your ideals, contact the WSC money. If your child has plans for the service or a mission, in addition to college, the trusts funds may very Development Office, 1011, Weber State College, Ogden, Utah 84408, or call 801-626-6568. you don't have to deposit the same r it X = SS Charitable tax deducations Che Grovit Union yor you! the first year to $1,800 the final year receives a donation from you which will earn a close kinship to the college. “No deduction Double By Don Spainhower WSC Development Director "We didn't have the things they have today. We didn't have the stomps,” she laughed. “But we had great times and we all knew each other.” Through the years she has taken several classes, and has always felt Why not set up a 15 year unitrust that would end at the beginning of the student's last year in college. According to this plan, you deposit $2,000 in the trust annually, starting when your child enters second grade. You receive charitable tax deductions ranging from $412 the first year to $1,800 the final year. Each year, 10 percent of the trust's value is paid out and deposited in a custodial savings account for your child's education. Assuming the money each year in the trust grows by 12 percent, the student would get about $3,000 a ‘ year during college from the trust. The custodial account would mg Qi. <0] WEBER STATE COLLEGE EMPLOYEES | FEDERAL CREDIT UNION ANNOUNCES THAT ALL REGULAR MEMBERS OF * THE NORTHERN CHAPTER OF THE COLLEGE ALUMNI ASSOCIATION ARE ;_ ELIGIBLE FOR MEMBERSHIP IN THE 7! CREDIT UNION. COME SEE US TODAY! Weber State College Employees | Federal Credit Union 4140 Harrison Boulevard Ogden, Utah be worth about $23,000, excluding inPage 9