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Helps Expedite Gifts to Iowa State University
Ask Bob and Phyllis Schwandt why they chose to give back to Iowa State University and their response is simple, "They earned it."
Bob, a 1943 graduate of Iowa State, and his wife, Phyllis, have been longtime supporters of Iowa State University and have made gifts to a number of projects and departments at ISU. Thanks to the new IRA charitable rollover law, the Schwandts were able to increase their level of giving to the institution, while at the same time, enjoying the tax incentives offered by the new law.
"Thanks to recent legislation opening a two-year window for favorable tax treatment of IRA rollovers, we were able to make this early payment toward our pledge for the chemistry facility at Iowa State," said Bob. "This law made it very easy for us to expedite our giving plans to Iowa State University. It was an appealing option that allowed us to give now for an important cause, rather than a deferred estate bequest."
Bob, a retired chemical engineer and consultant, says his fondness for Iowa State can be attributed to many things, including great faculty.
"As a student, I had enormous respect for the chemistry faculty. I had great teachers in the classroom, like John Wilkinson, Harvey Diehl and Henry Gilman. And after 60 years, I still feel the presence and inspiration of their teachings," said Bob. "I want all students at Iowa State to have the same experiences I did and I hope my gift will help the university connect top faculty with the best students."
A child of the depression, the financial assistance Bob received to help him with tuition costs allowed him to attend Iowa State.
"Private support was responsible for many of the experiences I had at Iowa State and I knew I wanted to give back one day. I received scholarships and grants and they made it all possible for me," said Bob. "I was enrolled in a vigorous academic program, but was also involved with cultural offerings at ISU. I performed in three bands and the symphony, which led to playing professionally."
A well-rounded experience at the university defined Bob's education but most importantly, prepared him for a successful career.
"My degree from Iowa State opened doors to prestigious industrial opportunities," said Bob. "I worked for Monsanto right out of college which led to many career advancements over the years."
Today, the Schwandts hope their gift to Iowa State will support the rich university environment for faculty and students.
"I would encourage others to take advantage of the IRA rollover option as a way to make a gift to Iowa State University," said Bob. "A deferred gift is wonderful, but the students who could benefit today will be gone tomorrow."
If you would like more information about how you can take advantage of this wonderful opportunity.
You may contact the office of gift planning at 800-621-8515 or email us at giftplanning@foundation.iastate.edu.
 The 2010 IRA charitable rollover passed the House and awaits Senate approval. It is not currently available. Because it is very likely to pass this year, we ask you to continue to plan for a potential IRA charitable rollover in the fall of 2010. To learn more click here.
To learn more about making an IRA gift, you may print a brochure. Click Here.
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