The Reiners Endowment: A Gift for Today and Tomorrow

Shortly after graduating as a civil engineer in 1965, Larry Reiners knew there was something he wanted to share, and fortunately for Larry, his wife, Judy, joined him in that exciting vision.

After retiring from a successful Tulsa-based business and professional career that took Larry on exciting ventures across the Western Hemisphere in the oil and gas industry, the Reiners found themselves able to see their passion for education become a reality before they died. So they shared their intentions with the university, and since May 9, 2009, the Civil and Environmental Engineering Department has been known as the Larry and Judy Reiners Department of Civil and Environmental Engineering in recognition of their funding the Larry and Judy Reiners Endowed Chair of Civil and Environmental Engineering. This endowment, along with a significant outright cash gift, will help the civil engineering faculty raise the already high standards of the department by boosting the curriculum and making the new masters a strong program to attract students from across the nation to Trine University.

A portion of the annual interest from the Reiners Endowed Chair for Civil and Environmental Engineering will be used for faculty development and stipends, upgrades to the departments labs, classrooms, technology, marketing efforts, scholarships, and student design projects and competitions. Any remaining interest will be added back to the principal to help offset normal inflation.

The department faculty, the university and the students are extremely grateful for the Reiners' support, which ensures the future excellence of this program.

A charitable bequest is one or two sentences in your will or living trust that leave to Trine 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, [name], of [city, state ZIP], give, devise and bequeath to Trine University [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 Trine 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 Trine 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 Trine 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 Trine where you agree to make a gift to Trine 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.

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