Gift Honors "Strong" Culver Connections

"I know three things that you are supposed to do," says Robert F. Calman '50, only half-joking. "1. Go to Culver. 2. Send your kids to Culver. 3. Support Culver after you graduate."

Bob, 73, has done all three. During his Culver years, the native of Des Moines, Iowa, played in the band for four years, was manager of the varsity baseball team, and was a member of the varsity squash team. He participated in soccer and basketball as well and was a member of the Honor Council, the Hop Club, and the Cum Laude Society. He served on the Roll Call staff and graduated with the rank of first lieutenant.

Two of his children also graduated from Culver—Andrew '78 and Camille '79—and his stepson Robert attended the Naval School. "They have all said that their strongest connections were made during their teen years away at school," Bob reflects. "It was the same for me."

Among other gifts over the years, Bob's will includes a bequest of a portion of the remainder of his IRA to Culver.

"The most tax-effective way for an old-timer to give is at death from his IRA or other tax-deferred account," Bob explains. "That eliminates both federal estate and income tax on the donation. If you die with funds in your IRA, those funds will be included at gross value in your estate and also be subject to federal income tax as ordinary income to the recipients," such as your heirs.

By contrast, if you provide for an IRA gift to Culver at death, "your IRA works for you until you die," Bob says. "Your heirs won't get the asset that would have carried the highest burden of taxes."

After Culver, Bob made a career in finance and industry, serving as chairman and CEO of Echo Bay Mines Ltd., a gold and silver mining company, until his retirement in 1996.

In 1975, Bob established the Ernest K. Gann Award, which is given to an outstanding Winter School aviation student.

"Were you a scholarship student?" he asks. "Someone else, long ago, decided to help an unknown person get a better education. Why not do the same for another young person now?"

I would like to have a confidential planned giving conversation with a representative