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The Easiest Way to Make an Impact

A Gift in Your Will or Living Trust

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Interested in helping Grinnell College with our mission but feel overwhelmed by the thought of writing another check or giving up your assets today? A simple, flexible and versatile way to ensure we can continue our work for years to come is a gift in your will or living trust, known as a charitable bequest.

By including a bequest to the College in your will or living trust, you are ensuring that we can continue our mission for years to come.

View our bequest brochure, Make Your Final Wishes Come True.

Check Out This Potential Scenario

Young family with kidsWhen Tom and Martha got married, they made a point to put together a will to protect their assets. They both loved the College and decided to include a bequest of $75,000 to us in their will.

As Tom and Martha's family grew to include three children, they decided to revise their gift to ensure their children's future financial security. They met with their attorney and simply revised the bequest language so that their gift to the College was now a percentage of their estate instead of a specific amount. Tom and Martha now rest easy knowing when they die, their plans will provide for the people and charitable work they love.

Planned Gift Will Allow More Students to Have Global Intellectual Exploration

Erica Tarpey

Erica Tarpey '93 has established funds at Grinnell College that allow current and future students opportunities to explore the world.

Her most recent gift is a bequest that will support the College's Institute for Global Engagement (IGE). The Institute, established in 2016, works to advance Grinnell's global learning goals by facilitating collaboration across academic departments, centers, and programs to promote international learning and research.

A French and political science major who spent a semester in Nantes, France, during her third year at Grinnell, Tarpey first traveled abroad at age 7, visiting relatives in England, Ireland, and Scotland. Since then she has visited dozens of nations and has especially appreciated the insights and cultural understanding that travel brings.

"I'm immensely grateful for my Grinnell College education and the people and experiences it afforded me," she says, "I want to give current and future students opportunities, both in and out of the classroom, for education, intellectual exploration, and creativity to prepare them for making a difference in society."

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See How It Works

See How It Works

You can use the following assets to fund a bequest:

Next Steps

  1. Contact Buddy Boulton at 866-850-1846 or PG@grinnell.edu for additional information on bequests or to chat more about the different options for including the College in your will or estate plan.
  2. Seek the advice of your financial or legal advisor.
  3. If you include the College in your plans, please use our legal name and federal tax ID.

Legal Name: Trustees of Grinnell College
Address: 733 Broad Street, Grinnell IA 50112
Federal Tax ID Number: 42-0680387

A charitable bequest is one or two sentences in your will or living trust that leave to Grinnell College 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 Grinnell College, a nonprofit corporation currently located at 733 Broad Street, Grinnell IA 50112, 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 the College 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 the College 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 the College 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 the College where you agree to make a gift to the College 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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