The Robert H. Flarsheim Society was established in 1999 to recognize, honor and thank alumni and friends who have included the University of Missouri-Kansas City (or any of its colleges and schools) in their estate plans or other planned gift arrangements. The Society also helps raise awareness about the benefits of charitable gift planning and encourages and assists those who may also wish to make a planned gift to UMKC Foundation.
Members of the Robert H. Flarsheim Society are specially recognized in university publications, and are provided access to additional university resources, activities, events and benefits. It is through their collective personal interest, support and generosity that UMKC's important role in educating and inspiring students from many backgrounds can be assured.
The Society was named for Bob Flarsheim, a long-time neighbor of UMKC, because his compelling life story epitomizes many of the values that we cherish at UMKC.
Bob was a self-made man with a profound sense of community and a sincere love of education. He built a successful food brokerage business and invested wisely. Later in life, Bob became a business development banker and was able to guide many budding entrepreneurs in creating and growing some of Kansas City's most successful businesses today. Bob was a life-long learner with an unquenchable thirst for knowledge and an expansive range of interests. He found "teachers" everywhere, and enjoyed exchanging ideas on everything from art and architecture, to culture, current events, gardening, poetry, and even telecommunications engineering. Bob generously gave of his resources to many educational, scientific and cultural organizations and witnessed how his gifts could impact peoples' lives.
UMKC was especially favored. He bought the house next door to the Chancellor's residence, served as a charter member of the University Associates, gave generously to a variety of UMKC causes, engaged students, faculty and staff in impromptu discussions, and became so much a part of campus life that in 1993 at UMKC's 60th anniversary celebration, Bob was named an honorary alumnus.
At his death, Bob Flarsheim bequeathed his home and more than $8.8 million to UMKC - the largest planned gift in the history of the university - with instructions to create an endowment to beautify and care for the campus in perpetuity. His vision of a beautiful campus will be assured for generations.
Members of the Robert H. Flarsheim Society also share a similar vision and look to leave their own legacy at UMKC in an area of special interest. They believe strongly in the mission and benefits of higher education to both individuals and communities. Together, their planned gifts will provide an opportunity to build a better university to give new generations of students the opportunity to learn, be creative and generous, and have their own special impact on their communities and other people.
We invite you to consider making your own lasting legacy at UMKC. For more information about the Robert H. Flarsheim Society, please contact Jeff Chapman, University of Missouri-Kansas City, at 816-235-5554 or email@example.com. You may also visit UMKC Foundation's gift planning website at http://umkc.mylegacygift.org/ for more information about how you can leave your legacy for UMKC and its future students.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
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Kansas City, MO
A charitable bequest is one or two sentences in your will or living trust that leave to University of Missouri-Kansas City 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 University of Missouri-Kansas City [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 UMKC 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 UMKC 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 UMKC 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 UMKC where you agree to make a gift to UMKC 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.