From left: Jerry Leer Professor, Paul M. Fischer, Ph.D., ’65 and Certified Public Accountant, Ed Vander Grinten ’66, ’70
Ed Vander Grinten's life changed when his teacher and mentor, accounting professor Jerry Leer, recommended him for an accountant trainee program at UWM's Department of Housing. While still an undergraduate student, Ed became the business manager for UWM dormitories, charged with setting up and maintaining all financial records.
The position's responsibilities allowed Ed to apply classroom theory to real world business, built his confidence, and laid the foundation for his successful career as a certified public accountant.
Ed has chosen to express his gratitude to Professor Leer and UWM's Sheldon B. Lubar School of Business by making an estate gift to endow the Edward L. Vander Grinten '66, '70 Scholarship Fund at the UWM Foundation. The scholarship will support graduate and undergraduate students majoring in accounting who hope to become certified public accountants.
"I owe my success to the remarkable training I received at UWM, both in the classroom and through my campus employment," Ed says. "It gives me great satisfaction to think I will help future students manage the rising cost of receiving such a great education."
Like many students at the time, Ed chose to attend UWM so he could save money by living at home. He earned his bachelor's degree in accounting in 1966 and his MBA in 1970. He opened his own public accounting practice in 1976 and continues to serve clients 38 years later.
"Ed Vander Grinten's generous gift helps us ensure that our accounting program will continue to flourish in the future," Dean of theLubar School, Timothy Smunt says. "Generations of accounting students will know of Ed's legacy and be inspired to follow in his footsteps."
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.
Gretchen E. Miller, J.D. Director, Gift Planning and Agreements (414) 229-3067 firstname.lastname@example.org
A charitable bequest is one or two sentences in your will or living trust that leave to the UWM Foundation 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 ($___)(___% of my estate) to the UWM Foundation, Inc., a not-for-profit corporation with its principal office in Milwaukee, Wisconsin, for the benefit of the University of Wisconsin - Milwaukee, (as an unrestricted gift) (to be used in support of....)."
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 the UWM Foundation 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 the UWM Foundation 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 the UWM Foundation 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 the UWM Foundation where you agree to make a gift to the UWM Foundation 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.