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A Living Legacy

Photo of Andy Anderson

Andy Anderson’s gift will ensure CSC can continue to attract outstanding students.

Andy Anderson remembers when he didn’t think college was for him. He was happy as long as he had a decent job and the time to hunt, fish and play baseball.

Andy grew up in Minatare and baseball was his sport. He was a tall, left-handed pitcher who played ball with Verne Lewellen and Bill Stephenson; both top-notch all-around athletes who enrolled at Chadron State and played football after they had served in the Army during World War II.

When the Elks needed a pitcher, “Lew and Steve” remembered their former teammate and encouraged him to join them in Chadron. The deal included a job at the Chadron Milling Co. which was managed by Paul Babue, a strong booster of the Chadron State athletics.

After he’d worked at “The Mill” for a couple of years, Andy says Babue called him into his office. “He told me, ‘Andy I’m firing you. You can’t work here anymore. Now get yourself up to the college and earn your degree.’”

“Well, I took his advice and that was the best thing that ever happened to me.” Andy recalls. “I owe a lot to Verne Lewellen, Bill Stephenson and Paul Babue. It was their influence that brought me to Chadron and then got me to Chadron State.”

After Andy graduated from CSC, he taught and coached in area schools for five years before becoming a Bankers Life of Nebraska Insurance agent in Scottsbluff.

After school, Andy faithfully supported his alma mater. In 1989, he was among about a dozen individuals who formed the Foundation’s Living Legacy Club. Its members designate that their estate will include a gift to the college.

“I’m so happy that Chadron State is continuing to do well and attracts so many outstanding students,” Andy notes. “It’s rewarding to keep track of what’s going on at the college and I urge others to become involved. I know you’ll enjoy it.”

To learn more about joining the Living Legacy Club, or ways you can give, contact Ben Watson at bwatson@csc.edu or 308-432-7007.

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A charitable bequest is one or two sentences in your will or living trust that leave to Chadron State Foundation 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 Chadron State Foundation, a nonprofit corporation currently located at 1000 Main, Chadron NE 69337, 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 Chadron State Foundation 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 Chadron State Foundation 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 Chadron State Foundation 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 Chadron State Foundation where you agree to make a gift to Chadron State Foundation 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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