For the Greater Glory of God

Katy and Dick Baalmann

Katy and Dick '53 Baalmann

Katy and Dick '53 Baalmann always valued Catholic education, so it was fortuitous when they first met, in 1952, at a CYC meeting. Dick was the president of CYC of Immacolata at the end of his junior year at SLUH.

"A group of Our Lady of Lourdes girls went to Immacolata to meet the CYC boys," recalls Katy. The couple dated through high school before both attending Saint Louis University.

Katy says Dick was entrepreneurial-minded and became a business owner in college. "He bought his first hardware store when he was a junior at SLU. He had done a few entrepreneurial things prior to that, including selling lawn mowers for his grandfather's company."

After college graduation—and a two-year stint in the Air Force—Dick focused on expanding the hardware business. In 1959, he became president of Ace Hardware Center of Missouri and Illinois, a position he held until 2012. Following retirement, Dick devoted his attention to commercial property development and management as well as other civic and charitable works.

In 2014, the Baalmanns established an endowed scholarship at SLUH—the Dick '53 and Katy Baalmann Scholarship—to help ensure a quality education experience to all qualified young men, regardless of their families' economic circumstances.

"Dick loved everything about SLUH," says Katy. "He was a member of the rifle team and loved it. He became a close friend of Fr. Jim Reinert, a Jesuit scholastic at the time. He had a sound system in his car and they were able to pull the car down onto the football field and lead cheers for the football team."

Dick, a past member of SLUH's Board of Trustees and former chair of the Endowment Committee, struggled with his health before his death in 2019.

Katy chose to honor his legacy with a bequest gift to support the Chapel renovation project, a cornerstone of SLUH's Go Forth bicentennial campaign. "Catholic education was very important to Dick because it taught a sense of discipline, honor and duty. He was a daily Mass-goer throughout high school and spent a lot of time in the Chapel. It's gratifying to support the effort to refurbish the Chapel because it's a part of the school that was so important to him."

She adds that giving with a bequest helps to "make sure that Catholic education is available to students of all economic backgrounds."

The Baalmanns' generosity is a lasting tribute to a couple bound by their faith, from the moment they met throughout their entire lives.

Does someone in your life share a special connection to SLUH? A gift in your estate plan is a meaningful and lasting way to honor them. Contact Linda Domeyer at (314) 269-2113 or ldomeyer@sluh.org to learn more.

A charitable bequest is one or two sentences in your will or living trust that leave to St. Louis University High School 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

UNRESTRICTED USE AND PURPOSE
"I, [name], of [city, state, ZIP], give, devise and bequeath to St. Louis University High School [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

RESTRICTED USE AND PURPOSE
"I, [name], of [city, state, ZIP], give, devise and bequeath to St. Louis University High School [written amount or percentage of the estate or description of property] for [scholarship name or another specific 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 SLUH 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 SLUH 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 SLUH 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 SLUH where you agree to make a gift to SLUH 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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