Dick Myren (59BSC), of Sun Lakes, Arizona, will soon work his 60th tax season as an accountant, and his love for numbers began at the University of Iowa.
“I’m very fortunate to have gotten my degree from Iowa,” says Myren, who was the first in his family to go to college. “And when you have benefited like I have, it’s great to give back.”
That’s why Myren set up a charitable remainder unitrust to benefit the Tippie College of Business. You can establish one, too, by irrevocably transferring assets to a charity—such as the University of Iowa Center for Advancement—who then invests the assets and pays you an annual variable income. When the trust term ends, the assets are distributed for your designated purpose.
“I collect five percent of the previous year’s value every December, which helps my wife, Sandy, and me do some special things around Christmas time,” says Myren.