• 25 Years and Counting...

    Michael and Kara Krahn with children

    Michael and Kara Krahn hope their support of WLC rubs off on their children: Christopher, Emily, Alicia and Olivia.

    A quarter-century is a long time, whether you're talking about the pro athlete who plays his entire career with the same team, time spent living at the same address or one's tenure as a company employee. When referring to the number of years a donor has been consecutively giving to an organization, 25 is phenomenal!

    Meet Michael Krahn, a 1979 graduate of Wisconsin Lutheran College. He came to WLC because he wanted to invest in a "new venture" and get a Christian college education all in one place. Michael remembers being in a class of 15 students and making lifelong friends such as Steve Zambo '81 and Mark Gaub '79.

    Although much has changed on WLC's campus since the late '70s, Michael is convinced the mission of WLC has not.

    "I support my alma mater on a regular basis because I strongly believe in Christian education at all levels," Michael says. "WLC is the type of school which has the ability to affect many students from different walks in life. They, in turn, will impact countless people as they live as Christian servant leaders for their families, churches, workplaces and, ultimately, the world."

    "Our culture is so focused on materialism and less on religion and Christian education. If more in the Christian community- especially our alumni-are not on board supporting Christian education, our schools will not be producing sufficient servant leaders to carry out the Great Commission."

    It is very evident to Michael and his wife, Kara, parents of Christopher, Emily, Alicia and Olivia, that Christian parents have the responsibility to be role models for their children. They are hopeful their attitudes and actions in support of Christian education rub off on their offspring. (Michael personally hopes his college choice influences his children!)

    Michael and Kara will continue to support WLC with a planned gift that includes them as members of the Ella Post Legacy Society.

    Thank you Michael and Kara for 25 years of generosity!

A charitable bequest is one or two sentences in your will or living trust that leave to Wisconsin Lutheran 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, [name], of [city, state, ZIP], give, devise and bequeath to Wisconsin Lutheran College [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 WLC 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 gift 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 receive an immediate federal income tax charitable deduction. 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 WLC as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 WLC 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 WLC where you agree to make a gift to WLC 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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