We

Are

Her

e to

Hel

pA

gift

of r

eal e

stat

e ca

n be

a p

ower

ful p

lann

ing

tool

fo

r a c

hari

tabl

y m

inde

d pe

rson

, and

we

wan

t to

be

help

ful a

ny w

ay w

e ca

n. F

or a

sta

rt, w

e w

ould

like

to

send

you

a c

ompl

imen

tary

cop

y of

our

boo

klet

, Gif

t P

lann

ing

Opp

ortu

niti

es w

ith

Rea

l Est

ate.

To

get

your

cop

y, s

impl

y re

turn

the

encl

osed

car

d. I

f you

pr

efer

, you

can

cal

l or e

-mai

l us

at:

(585

) 27

5-75

47(8

00)

Mel

iora

(635

-467

2)

krec

kel@

alum

ni.r

oche

ster

.edu

Or,

visi

t our

Web

site

at

ww

w.r

oche

ster

.pla

nned

gift

s.or

g

Comments_______________________________________

________________________________________________

________________________________________________

________________________________________________

________________________________________________

________________________________________________

CONFIDENTIALWe’d like to hear from you.

We invite you to call us, return this reply card, or visit our Web site (www.rochester.plannedgifts.org) to request a complimentary copy of our booklet, Gift Planning Opportunities with Real Estate. We would be happy to meet with you or your advisor about a gift to the University of Rochester.

Please send me a free copy of your booklet, Gift Planning Opportunities with Real Estate.

I am pleased to inform you that I

have included

am considering including

the University of Rochester in my estate plans.

(Please fold and tape closed before mailing.)

Please send me information on the following: (Please check)

Charitable trusts Charitable gift annuities Real estate: retained life estate Donor-advised funds Retirement-plan gifts George Eastman Circle

______________________________________________Name

______________________________________________School/Class

______________________________________________Address

______________________________________________City/State/ZIP

______________________________________________Business Phone Home Phone

______________________________________________Birth Date(s)

______________________________________________E-Mail Address

(Please Print)

/

/ 590

Mt.

Hop

e A

venu

eR

oche

ster

, New

Yor

k 14

620

Non

prof

it O

rg.

U.S

. Pos

tage

PA

IDIn

dian

apol

is, I

NP

erm

it N

o. 8

478

DETAC

H H

ERE

5

Spring 2009 • Issue 31

You

shou

ld co

nsul

t you

r att

orne

y ab

out t

he a

pplic

abili

ty to

you

r ow

n sit

uatio

n of

the l

egal

pri

ncip

les co

ntai

ned

here

in.

Leon Winans ’30 — Gift of His Home Fulfilled an Unimaginable Legacy

Leon Winans would be described by many as a man of modest means. Through hard work he had paid for his home in Clarence, New York, and by age 80 built an investment portfolio, bringing the total value of his estate to about $180,000. Little did he know his generosity would be noted more than a decade after his passing.

Leon cherished his experience at the University. He never missed a class reunion, was an enthusiastic volunteer, and made annual gifts like clockwork.

Leon aspired to do more. In his later years, he stayed awake at night mulling over various strategies that would enable him to fulfill his obligations to his family and his desire to pass on a meaningful legacy to the University.

Feb. 17, 1985Dear Jack:

You wrote me a month or two ago and asked me about leaving the University my estate....

I have been debating this for some time and finally last night, a solution came to me, of turning our home over to the University to sell after my wife decides to move....

Sincerely yours,Leon Henry Winans ’30 Interpres, 1931 (b. 1905–d. 1994)

continued on inside

A Host of Charitable Options1. Outright Gift

Many find that appreciated real estate is the best asset to give because of the ability to reduce or even eliminate the capital-gain tax that will be due if the property is sold. Additionally, the donor can claim a deduction for the property’s full fair-market value.

2. Bargain Sale

An owner transfers real estate to a charitable organization in exchange for a payment that is less than the full value of the property. Typically, the donor qualifies for a charitable deduction equal to the difference between the fair-market value of the property and the amount of the payment received.

3. Retained Life Estate

With a gift of a remainder interest with a retained life estate, you receive a valuable charitable deduction by transferring ownership to the University of Rochester while retaining the right to live in your home for life.

4. Charitable Remainder Trust

Real estate is an excellent asset to fund a charitable remainder trust, which makes payments for life, or for a term of up to 20 years, to one or more designated beneficiaries. These payments are based on the value of the trust’s assets. At the termination of the trust, the remaining assets pass to a designated charity. The value of this “charitable remainder” qualifies for a charitable deduction.

Real Estate … continued from page 3

Gif

t P

lann

ing

Opp

ortu

niti

es

w

ith

Rea

l Est

ate

NO

PO

STA

GE

NE

CE

SSAR

Y IF

MA

ILE

D IN

TH

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ITE

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Y 14692-9803

Office of Trusts & Estates

(585) 275-7547(800) Meliora (635-4672) kreckel@alumni.rochester.edu www.rochester.plannedgifts.org

Questions or Comments?

2 3 4

2008–2009 Harmon S. Potter Scholarship Recipients: Loren Pavlovic ’12, Caitlin Morrison ’12, Lillian Dickerson ’12, Conor Flynn ’12, James vavra ’12, Matthew Doyle ’12. Not pictured: Rheannon Harvey ’12, Margaret Hill ’12, and Daniel Wolfanger ’12.

In 1985, he and his wife Eva made an agreement with the University by which they would make a gift of their home but retain the right to live in it until the passing of the survivor. This gift represented one-third of Leon’s estate.

Although it would have brought him extraordinary satisfaction, Leon did not live to witness the tremendous impact of his generosity. At his direction, the proceeds from the sale of his home in 1993 became part of the Harmon S. Potter Scholarship Endowment, which is invested in the University’s diversified endowment. By 2008, the initial sum of $60,000 produced by the house sale had grown to $274,000. In addition, $115,000 has been drawn from the fund’s earnings to provide scholarships for deserving Rochester students. (See photo below.)

And this is only the beginning. By dreaming beyond the seeming limitations of his circumstances, Leon left a legacy benefiting undergraduates for countless generations to come.

Leon Winans ’30 … continued from cover Making Your Real Estate Work for YouWhy Consider a Gift of Real Estate?

• It may be an appealing alternative to sale of appreciated property, because capital-gain tax liability is reduced

• You can retain cash and other liquid assets

• Property management and sale responsibilities can be minimized or eliminated

• annual maintenance costs can be converted into a lifelong income stream

• Significant charitable objectives can be realized

Houle Station, donated outright by Glenn and Jeannine ’56N Houle in December 2008, will support a scholarship endowment for School of Nursing students. “The gifting of Houle Station is an act of gratitude for all the School has meant to our family.”

Highly Diversified UR Endowment Supports Long-Term Growth

Gifts destined for endowment purposes have enjoyed respectable growth in excess of public benchmarks, due to the University’s widely diversified investment strategy. In the past eight years, Rochester’s endowment has cumulatively provided more than $600 million in support of the University’s academic programs, while also increasing in value from $1.1 billion to approximately $1.4 billion. The investment strategy serves as a successful steward not only for gifts earmarked for endowment, as evidenced by the four-fold growth in Leon Winans’ gift over the past 15 years, but also for donors with charitable remainder trusts (CRTs).

Since 2007, the assets of all new CRTs for which the University serves as trustee have been invested in the University’s endowment. trust beneficiaries may enjoy higher relative trust payments, and the University benefits through higher remainder-interest values.

University of Rochester Endowment Asset Allocation June 30, 2008

Fixed Income, 6.5%

International Equity, 17.6%

Domestic Equity, 19.4%

Hedge, 28.3%

Distressed, 2.6%

Venture, 3.2%

Buyouts, 10.7%

Real Estate, 7.5%

Mining/Commodities, 0.1%

Timber, 1.4%Energy, 2.7%

continued on page 5

NO

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Y IF

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ILE

D IN

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Y 14692-9803

Office of Trusts & Estates

(585) 275-7547(800) Meliora (635-4672) kreckel@alumni.rochester.edu www.rochester.plannedgifts.org

Questions or Comments?

2 3 4

2008–2009 Harmon S. Potter Scholarship Recipients: Loren Pavlovic ’12, Caitlin Morrison ’12, Lillian Dickerson ’12, Conor Flynn ’12, James vavra ’12, Matthew Doyle ’12. Not pictured: Rheannon Harvey ’12, Margaret Hill ’12, and Daniel Wolfanger ’12.

In 1985, he and his wife Eva made an agreement with the University by which they would make a gift of their home but retain the right to live in it until the passing of the survivor. This gift represented one-third of Leon’s estate.

Although it would have brought him extraordinary satisfaction, Leon did not live to witness the tremendous impact of his generosity. At his direction, the proceeds from the sale of his home in 1993 became part of the Harmon S. Potter Scholarship Endowment, which is invested in the University’s diversified endowment. By 2008, the initial sum of $60,000 produced by the house sale had grown to $274,000. In addition, $115,000 has been drawn from the fund’s earnings to provide scholarships for deserving Rochester students. (See photo below.)

And this is only the beginning. By dreaming beyond the seeming limitations of his circumstances, Leon left a legacy benefiting undergraduates for countless generations to come.

Leon Winans ’30 … continued from cover Making Your Real Estate Work for YouWhy Consider a Gift of Real Estate?

• It may be an appealing alternative to sale of appreciated property, because capital-gain tax liability is reduced

• You can retain cash and other liquid assets

• Property management and sale responsibilities can be minimized or eliminated

• annual maintenance costs can be converted into a lifelong income stream

• Significant charitable objectives can be realized

Houle Station, donated outright by Glenn and Jeannine ’56N Houle in December 2008, will support a scholarship endowment for School of Nursing students. “The gifting of Houle Station is an act of gratitude for all the School has meant to our family.”

Highly Diversified UR Endowment Supports Long-Term Growth

Gifts destined for endowment purposes have enjoyed respectable growth in excess of public benchmarks, due to the University’s widely diversified investment strategy. In the past eight years, Rochester’s endowment has cumulatively provided more than $600 million in support of the University’s academic programs, while also increasing in value from $1.1 billion to approximately $1.4 billion. The investment strategy serves as a successful steward not only for gifts earmarked for endowment, as evidenced by the four-fold growth in Leon Winans’ gift over the past 15 years, but also for donors with charitable remainder trusts (CRTs).

Since 2007, the assets of all new CRTs for which the University serves as trustee have been invested in the University’s endowment. trust beneficiaries may enjoy higher relative trust payments, and the University benefits through higher remainder-interest values.

University of Rochester Endowment Asset Allocation June 30, 2008

Fixed Income, 6.5%

International Equity, 17.6%

Domestic Equity, 19.4%

Hedge, 28.3%

Distressed, 2.6%

Venture, 3.2%

Buyouts, 10.7%

Real Estate, 7.5%

Mining/Commodities, 0.1%

Timber, 1.4%Energy, 2.7%

continued on page 5

NO

PO

STA

GE

NE

CE

SSAR

Y IF

MA

ILE

D IN

TH

E

UN

ITE

D ST

AT

ES

BU

SIN

ES

S R

EP

LY

MA

ILFIr

St-C

la

SS Ma

Il P

er

MIt

no

. 137 ro

CH

eSt

er

, nY

PO

STA

GE

WIL

L B

E P

AID

BY

AD

DR

ESSE

E

UN

IvE

RSIT

Y O

F RO

CH

EST

ER

OFFIC

E O

F TR

UST

S AN

D E

STA

TE

S590 M

T. H

OP

E A

vE

.P

o b

ox

23029r

oC

He

Ste

r, n

Y 14692-9803

Office of Trusts & Estates

(585) 275-7547(800) Meliora (635-4672) kreckel@alumni.rochester.edu www.rochester.plannedgifts.org

Questions or Comments?

2 3 4

2008–2009 Harmon S. Potter Scholarship Recipients: Loren Pavlovic ’12, Caitlin Morrison ’12, Lillian Dickerson ’12, Conor Flynn ’12, James vavra ’12, Matthew Doyle ’12. Not pictured: Rheannon Harvey ’12, Margaret Hill ’12, and Daniel Wolfanger ’12.

In 1985, he and his wife Eva made an agreement with the University by which they would make a gift of their home but retain the right to live in it until the passing of the survivor. This gift represented one-third of Leon’s estate.

Although it would have brought him extraordinary satisfaction, Leon did not live to witness the tremendous impact of his generosity. At his direction, the proceeds from the sale of his home in 1993 became part of the Harmon S. Potter Scholarship Endowment, which is invested in the University’s diversified endowment. By 2008, the initial sum of $60,000 produced by the house sale had grown to $274,000. In addition, $115,000 has been drawn from the fund’s earnings to provide scholarships for deserving Rochester students. (See photo below.)

And this is only the beginning. By dreaming beyond the seeming limitations of his circumstances, Leon left a legacy benefiting undergraduates for countless generations to come.

Leon Winans ’30 … continued from cover Making Your Real Estate Work for YouWhy Consider a Gift of Real Estate?

• It may be an appealing alternative to sale of appreciated property, because capital-gain tax liability is reduced

• You can retain cash and other liquid assets

• Property management and sale responsibilities can be minimized or eliminated

• annual maintenance costs can be converted into a lifelong income stream

• Significant charitable objectives can be realized

Houle Station, donated outright by Glenn and Jeannine ’56N Houle in December 2008, will support a scholarship endowment for School of Nursing students. “The gifting of Houle Station is an act of gratitude for all the School has meant to our family.”

Highly Diversified UR Endowment Supports Long-Term Growth

Gifts destined for endowment purposes have enjoyed respectable growth in excess of public benchmarks, due to the University’s widely diversified investment strategy. In the past eight years, Rochester’s endowment has cumulatively provided more than $600 million in support of the University’s academic programs, while also increasing in value from $1.1 billion to approximately $1.4 billion. The investment strategy serves as a successful steward not only for gifts earmarked for endowment, as evidenced by the four-fold growth in Leon Winans’ gift over the past 15 years, but also for donors with charitable remainder trusts (CRTs).

Since 2007, the assets of all new CRTs for which the University serves as trustee have been invested in the University’s endowment. trust beneficiaries may enjoy higher relative trust payments, and the University benefits through higher remainder-interest values.

University of Rochester Endowment Asset Allocation June 30, 2008

Fixed Income, 6.5%

International Equity, 17.6%

Domestic Equity, 19.4%

Hedge, 28.3%

Distressed, 2.6%

Venture, 3.2%

Buyouts, 10.7%

Real Estate, 7.5%

Mining/Commodities, 0.1%

Timber, 1.4%Energy, 2.7%

continued on page 5

We

Are

Her

e to

Hel

pA

gift

of r

eal e

stat

e ca

n be

a p

ower

ful p

lann

ing

tool

fo

r a c

hari

tabl

y m

inde

d pe

rson

, and

we

wan

t to

be

help

ful a

ny w

ay w

e ca

n. F

or a

sta

rt, w

e w

ould

like

to

send

you

a c

ompl

imen

tary

cop

y of

our

boo

klet

, Gif

t P

lann

ing

Opp

ortu

niti

es w

ith

Rea

l Est

ate.

To

get

your

cop

y, s

impl

y re

turn

the

encl

osed

car

d. I

f you

pr

efer

, you

can

cal

l or e

-mai

l us

at:

(585

) 27

5-75

47(8

00)

Mel

iora

(635

-467

2)

krec

kel@

alum

ni.r

oche

ster

.edu

Or,

visi

t our

Web

site

at

ww

w.r

oche

ster

.pla

nned

gift

s.or

g

Comments_______________________________________

________________________________________________

________________________________________________

________________________________________________

________________________________________________

________________________________________________

CONFIDENTIALWe’d like to hear from you.

We invite you to call us, return this reply card, or visit our Web site (www.rochester.plannedgifts.org) to request a complimentary copy of our booklet, Gift Planning Opportunities with Real Estate. We would be happy to meet with you or your advisor about a gift to the University of Rochester.

Please send me a free copy of your booklet, Gift Planning Opportunities with Real Estate.

I am pleased to inform you that I

have included

am considering including

the University of Rochester in my estate plans.

(Please fold and tape closed before mailing.)

Please send me information on the following: (Please check)

Charitable trusts Charitable gift annuities Real estate: retained life estate Donor-advised funds Retirement-plan gifts George Eastman Circle

______________________________________________Name

______________________________________________School/Class

______________________________________________Address

______________________________________________City/State/ZIP

______________________________________________Business Phone Home Phone

______________________________________________Birth Date(s)

______________________________________________E-Mail Address

(Please Print)

/

/ 590

Mt.

Hop

e A

venu

eR

oche

ster

, New

Yor

k 14

620

Non

prof

it O

rg.

U.S

. Pos

tage

PA

IDIn

dian

apol

is, I

NP

erm

it N

o. 8

478

DETAC

H H

ERE

5

Spring 2009 • Issue 31

You

shou

ld co

nsul

t you

r att

orne

y ab

out t

he a

pplic

abili

ty to

you

r ow

n sit

uatio

n of

the l

egal

pri

ncip

les co

ntai

ned

here

in.

Leon Winans ’30 — Gift of His Home Fulfilled an Unimaginable Legacy

Leon Winans would be described by many as a man of modest means. Through hard work he had paid for his home in Clarence, New York, and by age 80 built an investment portfolio, bringing the total value of his estate to about $180,000. Little did he know his generosity would be noted more than a decade after his passing.

Leon cherished his experience at the University. He never missed a class reunion, was an enthusiastic volunteer, and made annual gifts like clockwork.

Leon aspired to do more. In his later years, he stayed awake at night mulling over various strategies that would enable him to fulfill his obligations to his family and his desire to pass on a meaningful legacy to the University.

Feb. 17, 1985Dear Jack:

You wrote me a month or two ago and asked me about leaving the University my estate....

I have been debating this for some time and finally last night, a solution came to me, of turning our home over to the University to sell after my wife decides to move....

Sincerely yours,Leon Henry Winans ’30 Interpres, 1931 (b. 1905–d. 1994)

continued on inside

A Host of Charitable Options1. Outright Gift

Many find that appreciated real estate is the best asset to give because of the ability to reduce or even eliminate the capital-gain tax that will be due if the property is sold. Additionally, the donor can claim a deduction for the property’s full fair-market value.

2. Bargain Sale

An owner transfers real estate to a charitable organization in exchange for a payment that is less than the full value of the property. Typically, the donor qualifies for a charitable deduction equal to the difference between the fair-market value of the property and the amount of the payment received.

3. Retained Life Estate

With a gift of a remainder interest with a retained life estate, you receive a valuable charitable deduction by transferring ownership to the University of Rochester while retaining the right to live in your home for life.

4. Charitable Remainder Trust

Real estate is an excellent asset to fund a charitable remainder trust, which makes payments for life, or for a term of up to 20 years, to one or more designated beneficiaries. These payments are based on the value of the trust’s assets. At the termination of the trust, the remaining assets pass to a designated charity. The value of this “charitable remainder” qualifies for a charitable deduction.

Real Estate … continued from page 3

Gif

t P

lann

ing

Opp

ortu

niti

es

w

ith

Rea

l Est

ate

We Are Here to HelpA gift of real estate can be a powerful planning tool for a charitably minded person, and we want to be helpful any way we can. For a start, we would like to send you a complimentary copy of our booklet, Gift Planning Opportunities with Real Estate. To get your copy, simply return the enclosed card. If you prefer, you can call or e-mail us at:

(585) 275-7547(800) Meliora (635-4672) kreckel@alumni.rochester.edu

Or, visit our Web site at www.rochester.plannedgifts.org

Com

ments_______________________________________

________________________________________________

________________________________________________

________________________________________________

________________________________________________

________________________________________________

CO

NF

IDE

NT

IAL

We’d like to hear from

you.W

e invite you to call us, return this reply card, or visit our W

eb site (ww

w.rochester.plannedgifts.org) to request

a complim

entary copy of our booklet, Gift P

lanning O

pportunities with R

eal Estate. W

e would be happy

to meet w

ith you or your advisor about a gift to the U

niversity of Rochester.

Please send m

e a free copy of your booklet, G

ift Planning O

pportunities with R

eal Estate.

I am pleased to inform

you that I

have included

am considering including

the University of R

ochester in my estate plans.

(Please fold and tape closed before mailing.)

Please send m

e information on the follow

ing: (Please check)

Charitable trusts

Charitable gift annuities

Real estate: retained life estate

Donor-advised funds

Retirem

ent-plan gifts G

eorge Eastm

an Circle

______________________________________________N

ame

______________________________________________School/C

lass

______________________________________________A

ddress

______________________________________________C

ity/State/ZIP

______________________________________________B

usiness Phone Hom

e Phone

______________________________________________B

irth Date(s)

______________________________________________E

-Mail A

ddress

(Please P

rint)

//

590 Mt. Hope AvenueRochester, New York 14620

Nonprofit Org.U.S. Postage

PAIDIndianapolis, INPermit No. 8478

DETACH HERE

5

Spring 2009 • Issue 31

You should consult your attorney about the applicability to your own situation of the legal principles contained herein.

Leon W

inans ’30 — G

ift of His H

ome

Fulfilled an U

nimaginable L

egacy

Leon W

inans would be described by m

any as a man of m

odest means.

Through hard w

ork he had paid for his home in C

larence, New

York,

and by age 80 built an investment portfolio, bringing the total value of

his estate to about $180,000. Little did he know

his generosity would be

noted more than a decade after his passing.

Leon cherished his experience at the U

niversity. He never m

issed a class reunion, w

as an enthusiastic volunteer, and made annual gifts like clockw

ork.

Leon aspired to do m

ore. In his later years, he stayed awake at night m

ulling over various strategies that w

ould enable him to fulfill his obligations to his

family and his desire to pass on a m

eaningful legacy to the University.

Feb. 17, 1985

Dear Jack:

You wrote me a month or two ago and

asked me about leavi

ng the University

my estate....

I have been debati

ng this for

some

time and finally

last night,

a solutio

n

came to me, of turning our home over

to the University

to sell

after my

wife

decid

es to move....

Sincerely

yours,

Leon H

enry Winans ’30

Interpres, 1931 (b. 1905–d. 1994)

continued on inside

A H

ost of Charitable O

ptions1. O

utright Gift

Many find that appreciated real estate is the best

asset to give because of the ability to reduce or even elim

inate the capital-gain tax that will be due if the

property is sold. Additionally, the donor can claim

a deduction for the property’s full fair-m

arket value.

2. Bargain Sale

An ow

ner transfers real estate to a charitable organization in exchange for a paym

ent that is less than the full value of the property. T

ypically, the donor qualifies for a charitable deduction equal to the difference betw

een the fair-market value of the

property and the amount of the paym

ent received.

3. Retained L

ife Estate

With a gift of a rem

ainder interest with a retained life

estate, you receive a valuable charitable deduction by transferring ow

nership to the University of R

ochester w

hile retaining the right to live in your home for life.

4. Charitable R

emainder T

rust

Real estate is an excellent asset to fund a charitable

remainder trust, w

hich makes paym

ents for life, or for a term

of up to 20 years, to one or more

designated beneficiaries. These paym

ents are based on the value of the trust’s assets. A

t the term

ination of the trust, the remaining assets pass

to a designated charity. The value of this “charitable

remainder” qualifies for a charitable deduction.

Real E

state …

continued from page 3

Gift PlanningOpportunities with Real Estate

We

Are

Her

e to

Hel

pA

gift

of r

eal e

stat

e ca

n be

a p

ower

ful p

lann

ing

tool

fo

r a c

hari

tabl

y m

inde

d pe

rson

, and

we

wan

t to

be

help

ful a

ny w

ay w

e ca

n. F

or a

sta

rt, w

e w

ould

like

to

send

you

a c

ompl

imen

tary

cop

y of

our

boo

klet

, Gif

t P

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Comments_______________________________________

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CONFIDENTIALWe’d like to hear from you.

We invite you to call us, return this reply card, or visit our Web site (www.rochester.plannedgifts.org) to request a complimentary copy of our booklet, Gift Planning Opportunities with Real Estate. We would be happy to meet with you or your advisor about a gift to the University of Rochester.

Please send me a free copy of your booklet, Gift Planning Opportunities with Real Estate.

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the University of Rochester in my estate plans.

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Please send me information on the following: (Please check)

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Spring 2009 • Issue 31

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Leon Winans ’30 — Gift of His Home Fulfilled an Unimaginable Legacy

Leon Winans would be described by many as a man of modest means. Through hard work he had paid for his home in Clarence, New York, and by age 80 built an investment portfolio, bringing the total value of his estate to about $180,000. Little did he know his generosity would be noted more than a decade after his passing.

Leon cherished his experience at the University. He never missed a class reunion, was an enthusiastic volunteer, and made annual gifts like clockwork.

Leon aspired to do more. In his later years, he stayed awake at night mulling over various strategies that would enable him to fulfill his obligations to his family and his desire to pass on a meaningful legacy to the University.

Feb. 17, 1985Dear Jack:

You wrote me a month or two ago and asked me about leaving the University my estate....

I have been debating this for some time and finally last night, a solution came to me, of turning our home over to the University to sell after my wife decides to move....

Sincerely yours,Leon Henry Winans ’30 Interpres, 1931 (b. 1905–d. 1994)

continued on inside

A Host of Charitable Options1. Outright Gift

Many find that appreciated real estate is the best asset to give because of the ability to reduce or even eliminate the capital-gain tax that will be due if the property is sold. Additionally, the donor can claim a deduction for the property’s full fair-market value.

2. Bargain Sale

An owner transfers real estate to a charitable organization in exchange for a payment that is less than the full value of the property. Typically, the donor qualifies for a charitable deduction equal to the difference between the fair-market value of the property and the amount of the payment received.

3. Retained Life Estate

With a gift of a remainder interest with a retained life estate, you receive a valuable charitable deduction by transferring ownership to the University of Rochester while retaining the right to live in your home for life.

4. Charitable Remainder Trust

Real estate is an excellent asset to fund a charitable remainder trust, which makes payments for life, or for a term of up to 20 years, to one or more designated beneficiaries. These payments are based on the value of the trust’s assets. At the termination of the trust, the remaining assets pass to a designated charity. The value of this “charitable remainder” qualifies for a charitable deduction.

Real Estate … continued from page 3

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Office of Trusts & Estates

(585) 275-7547(800) Meliora (635-4672) kreckel@alumni.rochester.edu www.rochester.plannedgifts.org

Questions or Comments?

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2008–2009 Harmon S. Potter Scholarship Recipients: Loren Pavlovic ’12, Caitlin Morrison ’12, Lillian Dickerson ’12, Conor Flynn ’12, James vavra ’12, Matthew Doyle ’12. Not pictured: Rheannon Harvey ’12, Margaret Hill ’12, and Daniel Wolfanger ’12.

In 1985, he and his wife Eva made an agreement with the University by which they would make a gift of their home but retain the right to live in it until the passing of the survivor. This gift represented one-third of Leon’s estate.

Although it would have brought him extraordinary satisfaction, Leon did not live to witness the tremendous impact of his generosity. At his direction, the proceeds from the sale of his home in 1993 became part of the Harmon S. Potter Scholarship Endowment, which is invested in the University’s diversified endowment. By 2008, the initial sum of $60,000 produced by the house sale had grown to $274,000. In addition, $115,000 has been drawn from the fund’s earnings to provide scholarships for deserving Rochester students. (See photo below.)

And this is only the beginning. By dreaming beyond the seeming limitations of his circumstances, Leon left a legacy benefiting undergraduates for countless generations to come.

Leon Winans ’30 … continued from cover Making Your Real Estate Work for YouWhy Consider a Gift of Real Estate?

• It may be an appealing alternative to sale of appreciated property, because capital-gain tax liability is reduced

• You can retain cash and other liquid assets

• Property management and sale responsibilities can be minimized or eliminated

• annual maintenance costs can be converted into a lifelong income stream

• Significant charitable objectives can be realized

Houle Station, donated outright by Glenn and Jeannine ’56N Houle in December 2008, will support a scholarship endowment for School of Nursing students. “The gifting of Houle Station is an act of gratitude for all the School has meant to our family.”

Highly Diversified UR Endowment Supports Long-Term Growth

Gifts destined for endowment purposes have enjoyed respectable growth in excess of public benchmarks, due to the University’s widely diversified investment strategy. In the past eight years, Rochester’s endowment has cumulatively provided more than $600 million in support of the University’s academic programs, while also increasing in value from $1.1 billion to approximately $1.4 billion. The investment strategy serves as a successful steward not only for gifts earmarked for endowment, as evidenced by the four-fold growth in Leon Winans’ gift over the past 15 years, but also for donors with charitable remainder trusts (CRTs).

Since 2007, the assets of all new CRTs for which the University serves as trustee have been invested in the University’s endowment. trust beneficiaries may enjoy higher relative trust payments, and the University benefits through higher remainder-interest values.

University of Rochester Endowment Asset Allocation June 30, 2008

Fixed Income, 6.5%

International Equity, 17.6%

Domestic Equity, 19.4%

Hedge, 28.3%

Distressed, 2.6%

Venture, 3.2%

Buyouts, 10.7%

Real Estate, 7.5%

Mining/Commodities, 0.1%

Timber, 1.4%Energy, 2.7%

continued on page 5