The Benefits of Giving

Throughout their 65-year marriage, Glen and Dottie Ellison, both '49, served others through their work in education and business, and through their active leadership in their church and their dedication to the Whitworth community.

Dorothy (Hone) Ellison grew up in British Columbia and earned a degree in Christian education at Biola University in Los Angeles. She then came to Whitworth, where she earned a degree in English and the Bible, and where she also met her future husband.

Glen Ellison grew up in Southern California and served in the U.S. Navy. He attended the Montana State School of Mines and Biola University before coming to Whitworth, where he finished his first of three Whitworth degrees, in psychology. After Glen studied for a year at Princeton Seminary, during which time Dottie taught school, the now-married Ellisons returned to Spokane, where they served as Christian education directors at First Presbyterian Church while Glen completed a second bachelor's degree and then a master's in education at Whitworth.

Glen's professional career took the couple around the world, but the opportunity to be involved with Whitworth was one of the deciding factors in their decision to retire to Spokane in 1989. In 2004, the Ellisons received the Alumni Service to Whitworth Award for their dedication to Whitworth and for expressing the mission of the university to others.

In addition to their service to the university, Glen and Dottie have provided significant support to Whitworth through outright contributions and by establishing two charitable gift annuities with The Whitworth Foundation. They established their first CGA in 2009, and they received joint annuity payments until Dottie's passing in 2013. Glen established a second CGA in 2017, and he will receive the payments from both CGAs for his lifetime.

"Education at Whitworth merits priority in my giving plans," Glen says. "Of the 10 charities I support each year, I consider Whitworth University to be the most worthy cause." According to Glen, his CGAs through The Whitworth Foundation provide "the benefit of a tax deduction and partially tax-free income thereafter."

A charitable bequest is one or two sentences in your will or living trust that leave to Whitworth 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

Bequest Language

I hereby give, devise and bequeath to Whitworth University, a nonprofit corporation located in Spokane, Washington, and a tax-exempt organization under Section 501(c)3 of the Internal Revenue Code,      gift of what       (the sum of $               ; or            % of my estate; the residual of my estate; or the personal/real property described herein) to be used for        purpose      (general and unrestricted use; endowment; academic programs; scholarship; facilities etc)

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 Whitworth 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 Whitworth 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 Whitworth 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 Whitworth where you agree to make a gift to Whitworth 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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