Laying Down the Law

Tarleton Graduate Appreciates Value of Giving Back

Mark Childers

“Giving back is critical on a number of levels. One, in particular, is paving the way for those who come behind you.”
–Mark Childers

Ask Mark Childers and he’ll tell you: “You’re only as good as the opportunity provided to you. Meaning you can be the most talented individual, brightest individual out there, but unless you’re given the opportunity to showcase those things, you’ll be lost in obscurity.”

That credo is the impetus behind Mark and Kathrine’s donations to Tarleton State University—specifically, the criminal justice program.

Mark retired from government service after a career that featured 18 years with the Secret Service and eight years with the U.S. Marshals Service. He is now associate vice president of the Department of Public Safety at Baylor University in Waco.

An Abilene native, he got his start in law enforcement at Tarleton where he earned a bachelor’s degree in criminal justice in 1987.

“Initially, Tarleton was on my radar for football,” he says. “I came and played for a couple of years and realized there wasn’t much of a future in football for me, so I focused on studies to graduate and get a job.”

He was invited back to Stephenville in 2004 for recognition as the University’s Outstanding Young Alumnus. He’s aware of the many changes on campus since he received his degree, and he still holds a passion for Tarleton and the criminal justice department.

“It’s a great program with great instructors. In my opinion, it prepares you as well as or better than any university in the United States for a career in criminal justice.”

Though Mark has donated to the University in the past by traditional means—via check—he recently made a gift of stocks, taking advantage of tax regulations. Capital gains taxes come into play when dealing with stocks that a donor has held longer than a year. If a donor sells their stock before giving to the Foundation, it is possible the donor would have to pay taxes on the gained value of the stocks. If a donor gives stock directly to the Foundation, there is a potential charitable tax deduction based on the fair market value of the assets as of the date of the transfer, eliminating capital gains taxes on those securities altogether. As always, one should consult with their financial advisor and/or tax professional for details on how this might affect individual tax needs and situations.

“My goal was two-fold when I started contributions to Tarleton,” he says. “One was to support the new stadium, and the other was to endow a criminal justice scholarship, which we established. It will be fully endowed within the next six to eight months.”

The Mark G. and Kathrine L. Childers CJ Leadership Scholarship Endowment will be awarded to a criminal justice student who maintains a 3.2 grade-point average and is involved in leadership experiences such as volunteer work, student government, ROTC or athletics.

“I think it’s important to give back when you attend a great university like Tarleton State and you receive that education,” Mark says. “Giving back is critical on a number of levels. One, in particular, is paving the way for those who come behind you.”

You, like Mark and Kathrine, can pay forward a Tarleton education for deserving students through a future gift. Contact Janice Horak at 254-968-9857 or jhorak@tarleton.edu to learn more.

 

A charitable bequest is one or two sentences in your will or living trust that leave to Tarleton State University 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

 Bequest Language

"I, [name], of [city, state ZIP], give, devise and bequeath to Tarleton State University Foundation, Inc. [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

"I, [name], of [city, state ZIP], give, devise and bequeath to Tarleton State University [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 Tarleton 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 potential 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 may qualify for a federal income tax charitable deduction when you itemize. 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 Tarleton as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. 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 Tarleton 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 Tarleton where you agree to make a gift to Tarleton 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.
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