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Gift Is 'Brick' in Bridge of Student Opportunity

Peter Holbrook and Tom Hoffman

Dr. Peter Holbrook and Tom Hoffman

As Provost and Chief Academic Officer at Tiffin University, Dr. Peter Holbrook focuses on providing the highest-quality educational programs for students. However, quality higher education comes at a cost that not every family can afford. Dr. Holbrook strongly believes in transforming lives through education and seeks to make it more accessible. That's why Dr. Holbrook and his spouse, Tom Hoffman, named Tiffin University as a beneficiary in their estate plan. The gift, once realized, will create an endowed scholarship.

"When we made our planned gift, we were thinking about the access and opportunity it could provide for students," says Dr. Holbrook. Their long-term investment in Tiffin University will secure a sustainable future for the University's students. "Every dollar we invest creates future possibilities for the mission of TU to continue well past our lifetime."

As a first-generation college student, Dr. Holbrook understands the impact of an education. Now, as successful professionals, he and Tom were inspired to pay forward the academic opportunities they received. They hope their generous gift will assist future students in achieving their dreams and leading successful lives.

"Each degree I earned has opened doors and provided me with opportunities that I would not have without an education," Dr. Holbrook says. "A college education develops the initial potential for the degree holder. It provides a platform to launch future life and work experiences that allow individuals to make a difference in the communities and organizations they live and serve."

Dr. Holbrook has been part of Tiffin University for four years, serving as Provost. His passion has grown, along with his relationships with colleagues and students.

"My job allows me to make a positive difference in the lives of our faculty, staff and students," says Dr. Holbrook. "The Tiffin University community inspires me each day. It is about the people and the ability to create access and opportunity for students. Our planned gift may be the first or last brick that builds the bridge between where a student is and wants to be in the future."

To Dr. Holbrook and Tom, giving back to Tiffin University is fulfilling. "We give because we want to be part of something larger than ourselves—it's all about the potential that gift may make," says Tom. "No matter how large or small, it has an impact. Our collective giving helps the University thrive in the present and future."

Make an Impact at TU

You can create a meaningful impact on our students and programs by including a gift to Tiffin University in your estate plan. Contact Mitchell P. Blonde, CFRE at blondemp@tiffin.edu or 419.448.3584 to learn about your giving options.

A charitable bequest is one or two sentences in your will or living trust that leave to Tiffin 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 give to Tiffin University, a nonprofit corporation currently located at 155 Miami Street, Tiffin, Ohio 44883, or its successor thereto, ______________ [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 TU 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 TU 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 TU 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 TU where you agree to make a gift to TU 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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