Leaving a Legacy for the Next Generation

About 50 years ago, when Barbara Schwarz ’76 was a student at Valparaiso University, she discovered that her family’s connection to the University ran much deeper than she realized. She explains, “About 50 years ago was the 50th anniversary of Valpo becoming a Lutheran institution. I was a student at Valpo then, so my grandmother contacted me to tell me she and my grandfather had donated funds towards that effort and are listed as founders of the University! It was an interesting twist in my Valpo experience.”

After earning her degree in mathematics in 1976, Barb enlisted in the Army, which brought her to Washington, D.C. After her years of service were complete, she settled into a career working mainly on satellite ground systems for organizations such as NASA and the U.S. Air Force. Throughout her career, Barb remained a strong supporter of Valpo, honoring her and her family’s unique connections to the University.

When it came time to start planning her estate, Barb decided to include Valpo in not only her will but also her retirement plan. She says her decision to do this had a lot to do with the tax advantages of that choice. “I didn’t have many opportunities to contribute to a Roth IRA until about three years before I retired. Since most of my funds are in qualified accounts, it made sense to consider the tax advantages and let the University get the most bang for its buck,” Barb explains.

For Barb’s legacy gifts, she’s designated all funds as unrestricted — to be used for Valpo’s areas of greatest need. Her experiences as a treasurer in various community organizations inspired this choice. She says, “An organization needs to be able to react. One of the biggest reasons I believe in unrestricted giving is because I want the people making those decisions to have the resources they need to react to needs as they arise.”

Barb says she gives back to Valpo because she believes in the power of giving. “Giving back is a blessing. I cherish my time at Valpo and my connection with the University. I want the next generation to have the same opportunities I had.” She says she hopes others consider the legacy they want to leave when making their financial plans. “Talk to your tax advisor, and ensure you give efficiently. But, really think about what you want your impact to be on this world. What do you want your Valpo legacy to be?”

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