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A Family of Bulldogs

NoycesA love for Drake University is contagious.

For the Noyces, it started with family matriarch and patriarch, Patricia and Richard, who moved to Des Moines from Kansas nearly 60 years ago for a job opportunity.

The couple valued community involvement and began their relationship with Drake by attending basketball and football games and the Drake Relays.

Their relationship deepened as, one by one, their three children attended the University. The Noyce family now counts six Drake alumni among its ranks.

While Richard passed away in 2008 and Patricia in 2013, their legacy will remain strong at the University through a bequest that created the Richard J. and Patricia A. Noyce National Alumni Scholarship and the Richard J. and Patricia A. Noyce George A. Carpenter Scholarship, which will ensure a Drake education for generations of Bulldogs.

"When I think of what was important to my parents, I think: family, friends, faith, and community," said son Jim Noyce, BN’78, as he recalled Richard and Patricia’s turn as Drake’s 1984 Parents of the Year.

"They believed strongly that the college experience should extend beyond the classroom—that community is a key aspect of a holistic education. They also believed that Drake provided that back in the '70s and '80s when my siblings and I attended, and that it continues today."

Celebrating Generosity
Richard and Patricia were honored at the 2015 Scholarship Luncheon, where the recipients of their scholarships paid tribute to their legacy. First-year Musical Theatre major and Noyce Alumni Scholar Jackson Kealy performed a number from Broadway’s Mary Poppins.

"I picked 'Anything Can Happen’ because I felt it encapsulated the possibilities that have been opened up to me," said Kealy. "Drake is my dream school, and it is only possible for me to attend because of the Noyce family’s generous support.

Kevin Maisto, senior Marketing and Management double major, current student body president, and the Noyce Carpenter Scholar, spoke about the life-changing opportunities Drake has provided him: seeing two U.S. presidents, examining policy debates in the nation’s capital, participating in a Model European Union in Brussels, serving on the Student Senate, and landing a seat for the national Democratic presidential debate in Sheslow Auditorium. All, he underscored, made possible by support from the Noyce family.

"Receiving this scholarship has reinforced my perspective of giving back," said Maisto, who arrived at Drake hoping to make a difference, and who will make his first gift to the University next year in order to help bring similar opportunities to new students.

Share Your Drake Story
If you would like to ensure that your Drake story is carried on to the next generation, contact John Amato at 515-271-2849 or to discuss your giving options.

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A charitable bequest is one or two sentences in your will or living trust that leave to Drake University 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 to Drake University, a nonprofit corporation currently located at 2507 University Ave., Des Moines, IA 50311, or its successor thereto, ______________ [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 Drake 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 Drake 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 Drake 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 Drake where you agree to make a gift to Drake 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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