Thursday, September 23, 1982
Daily Nebraskan
NU Foundation seeks land gifts
By Chris Welsch
Giving land to NU can be very profitable.
A donation of appreciated agricultural land can yield
a lifetime income as well as being an excellent tax shel
ter, according to J. Robert Sandberg, vice president of
planned gifts at the NU Foundation.
The donated land usually is sold and invested in money
market funds, Sandberg said. The donor receives an
annual income based on the value of the gift, typically
7 percent to 8 percent of the total value.
The income from the trust is sometimes two to three
times more than the owner earned before, he said.
Gifts of land always have been a part of the NU
Foundation's program, Sandberg said.
"The wealth of Nebraska is essentially in its land,"
Sandberg said. "We don't have many people with million
dollar stock portfolios or art collections."
In 1977 the NU Foundation began a "capital cam
paign" to increase funds generated through gifts of land,
he said.
More than $50 million was collected during the drive,
which lasted until 1980, he said. The NU Foundation
has taken out advertisements in the Nebraska Farmer
and the Nebraska Cattleman magazines in an effort to
increase land gifts.
"We are not involved in a campaign now; however,
Author to be speaker
Peter Nabokov, author and doctoral candidate in the
architecture department at the University of California
Berkeley, will be the featured speaker at the Great Plains
Studies Center Friday.
The lecture will deal with "American Indian Archi
tecture and Its Relationship to Cosmology."
Nabokov has worked as a research associate at the
Museum of Natural History and the Human Resources
Research Organization, and he'has written several books
dealing with Native Americans.
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the foundation is taking steps to increase gifts," he
said.
Many landowners in the high-income bracket can
afford to make outright gifts to the NU Foundation,
Sandberg said. An outright gift of land is 100 percent
tax deductable.
There is no capital gains taxation on past apprecia
tion, he said.
Many landowners cannot afford an outright gift, he
said. For them a "split-interest" transfer can be bene
ficial. The age limit for the "split interest" program is 50,
Sandberg said. A donor retains income from the land
until he and or his spouse dies, when the trust is trans
ferred to the NU Foundation.
A donor often specifies what department he or she
wants to support, according to Edward J. Hirsch, vice
president of the foundation.
"A donor may specify where he wants his money
to go," he said. "We recently had a large gift directed
to the Law College."
The proposed constitutional amendment designed
to protect farm families from corporate interests will
have no effect on the NU Foundation's land program,
he said.
"A donor can give his land to us as a corporation
or as an individual," Hirsch said. "We've never sold
land to a corporation," he added.
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HI
Head For
oi)U-JwM-(jX
Downtown
Thursday, September 23
From 6 PM to 9 PM
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