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Planned Giving

Make a Gift ButtonA growing number of North Park University supporters contribute through planned, or deferred, gifts. We recognize their legacy with Heritage Circle membership.

Covenant Trust Company

Covenant Trust Company (CTC) has partnered with North Park University to provide valuable financial and legacy planning assistance and support. The CTC website contains a wide variety of resources and information about financial and legacy planning, including trustee services, asset management, retirement planning and charitable planned giving.

Common Planned Giving Methods

Bequests

Charitable bequests enable individuals to make significant gifts through estate plans. It provides lasting legacy of support for our students.

Charitable Gift Annuities

The Charitable Gift Annuity allows the donor to make a significant gift to North Park, achieve a charitable tax deduction, and also receive annual income for the remainder of life.

Charitable Remainder Trusts

To establish a Charitable Remainder Trust (CRT), a donor transfers assets into an irrevocable charitable trust that specifies how trust income and the charitable remainder are to be distributed. The donor continues to receive income from the trust, or directs this income to another person, and receives a partial income tax deduction in the year the CRT is established.

Charitable Lead Trusts

This type of trust allows a donor to place assets in a trust for a specified amount of time during which the charity receives income generated by that asset. At the conclusion of the designated time period, the asset reverts back to the donor or family member's estate.

Charitable Life Estate

A Charitable Life Estate is a gift agreement allowing a donor to give their home or farm to a charity while retaining the right to live in it during their lifetime. Upon their death, ownership of the property transfers to that designated charity.

Life Insurance

Ownership of a paid-up existing life insurance policy can be transferred to a charity, or the donor can name North Park University as the beneficiary of a life insurance policy.

Retirement Plan Assets

A donor can designate North Park University to receive any remaining assets of an IRA, Keogh, or other qualified pension or profit-sharing plan.

Revocable Living Trust

A Revocable Living Trust is a legal agreement that titles a person’s assets into a trust, which preserves the privacy of that donor’s assets and avoids probate costs upon their death. Assets from that trust are dispersed upon the trust owner’s death as specified during their lifetime.

For more information contact the Office of Development by email or by our toll free number (866) 366-8096.

Mel Soderstrom and Karl Clifton-Soderstrom