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Scholarship Allows Students to Reach Their Goals

When Edward H. Dahly made a provision in his will to establish a scholarship to help Drake students, he probably didn't know what a difference it would make on so many young people. Below, you can hear from a few fortunate recipients of the Dahly scholarship about how this meaningful support has helped them. To learn how you can make a similar impact, contact us today. 

"I am humbled to have been the recipient of the generous Dahly scholarship. I received offers to attend other pharmacy schools whose tuition was much less than Drake's. Because I was awarded such a wonderful gift, I was able to attend Drake and receive an education I believe I could not receive at any other school. I feel fortunate to be a student here and to be a part of the pharmacy profession. I will always have gratitude for the donor who funded my scholarship and know that because of their generosity I was able to attain my Drake degree."
—Brodie J. Nielson, PharmD Candidate 2012, West Des Moines, Iowa 

"When I was looking at colleges, a Drake alumnus encouraged me to take a look at Drake. With one visit, I knew Drake was the school for me, although I had a few more hurdles in terms of getting into Drake and also affording my education. I was overjoyed the day my acceptance letter came, not only because I got into Drake, but because the letter informed me that I would be receiving the Edward H. Dahly Scholarship. The Dahly scholarship made it possible for me to attend Drake, and the University has given me a foundation I can grow on and also the tools to create my own path." 
—Danielle M. Hinz, junior, triple major in art history, chemistry and biochemistry/ microbiology, Red Wing, Minn. 

"Scholarship support has meant everything in my college experience. A large part of the reason I chose to come to Drake was because of the great financial aid I received. Without the support of alumni and other donors, I would not be at Drake today. I am so thankful for all the opportunities Drake has given to me and these were all made possible by generous donations. The picture is one from my recent study abroad experience in Uganda with the CBPA's Uganda summer seminar. The trip was possible for me because I was able to save the money I made working to pay for the trip as my scholarships helped cover my regular academic year costs at Drake." 
—Kjersten Krantz-Odendahl, junior, actuarial science major, Little Falls, Minn. 

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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.

Personal Estate Planning Kit Request Form

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