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Herb and Barbara Pedersen: Committed to Maintaining DBU's Academic Excellence and Spiritual Emphasis

Dr. Herbert Pedersen is frequently seen on the Dallas Baptist University campus for a variety of reasons. He serves on the board of trustees, has been an adjunct professor, is currently director of an internship program in the Gary Cook Graduate School of Leadership, and has even been known to bulldoze dirt and work on campus building and beautification projects.

Regardless of his reason for being at DBU, Herbert finds a constant in each visit: a sense of God's presence. "When I walk on to the DBU campus, I feel God's hand on the school," he says. "This is a strong affirmation of DBU's great blend of academic excellence and spiritual emphasis."

To help make sure that this "blend" is available to future generations of students, Herbert and his wife, Barbara, who also teaches at DBU, are 20-year donors to the University. They have also named DBU a remainder beneficiary in their wills. "This provides us a strong opportunity to support the Kingdom of God," says Herbert, a pastor for more than four decades, having been ordained in 1963.

It was in 1988, while pastor at First Baptist Church of Oak Cliff, that Herbert began his service to Dallas Baptist University. The relationship has continued unabated ever since, though he did leave the board of trustees for nine years while serving as director of missions for the Baptist General Convention of Texas.

"I have developed a lot of ties with DBU," he says. "My wife and oldest daughter finished their bachelor's degrees here, a granddaughter has just graduated—and I don't know of a school anywhere that has a stronger emphasis on a faith-based education.

"If you are looking to make an investment in the Kingdom of God," Herbert says, "I can't think of a better place to put your money."

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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 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 Dallas Baptist University 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 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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