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Dollie Culp: Furthering God's Kingdom Through Christian Education

Dollie-Culp

Dollie Culp

Throughout the 1980s, Dollie Culp worked with the Baptist General Convention of Texas (BGCT) and their Christian Education Coordinating Board. In her work with the board, Dollie helped observe Baptist institutions and their students. Due to her involvement with the BGCT, Dollie knew about Dallas Baptist University, but most of the stories she heard were about a financially troubled institution.

Years later, after the arrival of Dr. Gary Cook as president, Dollie visited the DBU campus to find a much different picture from the stories of the early 1980s. As a caregiver of her dear friend and former DBU trustee Erma Barnett (late in her life), Dollie began attending DBU Women's Auxiliary Board meetings with Erma. Surprised by the growth of the University, Dollie gradually became more and more involved with supporting DBU.

"During my time with the BGCT, I saw all the universities and their programs, but there was just a different atmosphere at DBU. I saw that Dr. Cook had a goal to make DBU a light on the hill, and he has done that," expresses Dollie.

Giving Back to DBU
Erma was a longtime donor of the University, and she encouraged Dollie to join her in supporting a university in which she believed in. Undoubtedly following in her late friend's footsteps, Dollie has made numerous donations of qualified charitable gift annuities. Several of Dollie's gifts have even gone to support the Erma Barnett Memorial Endowment Fund, which is used in the church matching scholarship program that aids around 800 DBU students each year.

"I think it was the quality of the students and staff and their visions for building the University that really drew me to DBU," Dollie says. "There is a quality of leadership and a quality of students that make a presence in the metroplex like nothing else I've seen."

Even though Dollie has long since retired from the Christian Education Coordinating Board, in many ways she is still doing that same job to this day-helping Dallas Baptist University support its students and further the cause of Christian education.

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

"I, [name], of [city, state, ZIP], give, devise and bequeath to Dallas Baptist University, Dallas, Texas, [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 Dallas Baptist University 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 Dallas Baptist University 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 Dallas Baptist University 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 Dallas Baptist University where you agree to make a gift to Dallas Baptist University 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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