Gratitude Motivates Steubes to Give Back

Steube FamilyPaul Steube '65 and Ed Steube '62 remember SLUH with fondness and gratitude because it provided them more than an excellent education. It served as a springboard for success and a foundation for a meaningful life.

After SLUH, Paul went to Georgetown University; Ed went to Princeton University. Ed was on SLUH's 1961 Missouri state championship basketball team. Their parents were active at the school and friends with some of the faculty and Jesuits.

When Paul graduated from college, he spent 12 years in the Air Force and served as a captain. Eventually, he followed in his father's footsteps—as did Ed—in financial services. Paul worked for commercial banks in St. Louis as a trust investment officer, and Ed spent much of his career at Wall Street firms in New York.

In recent years, under Paul's lead, the Edward and Dorothy Steube Memorial Scholarship was created to honor the Steube brothers' parents and to keep SLUH affordable.

"I appreciated the socio-economic diversity when I was at SLUH," says Paul, who provides his funding of the scholarship by making gifts from his IRA required minimum distributions. "It made for a good cross-section of the population, and I want that to continue."

"The Jesuits and lay faculty at SLUH were a real influence in my life," says Ed. "They certainly delivered what I considered to have been the highest quality education that I ever encountered."

In addition to contributing to the family scholarship, Paul included a provision in his trust for a bequest to SLUH simply because "the school has done a lot for my family and me, and I wanted to leave something to them."

A dedicated volunteer who chairs the Stewardship Committee at his parish and helps SLUH fundraising efforts, Paul says, "When you donate your time, talent and treasure, you receive so much more than you give."

SLUH's Endowed, Named Scholarship Program provides an opportunity to give the gift of SLUH to future generations. It enables donors to honor and recognize significant individuals, such as alumni, faculty or family, by creating an endowed scholarship from which the earnings will provide financial aid to SLUH students. A partially endowed named scholarship may be created with an investment of $30,000. A fully endowed named scholarship provides earnings projected to meet the equivalent of a full tuition annually. The investment required to create a fully endowed named scholarship is currently $300,000. This amount will increase to $325,000 in 2021. For more information about creating a legacy at SLUH through an endowed scholarship, contact Linda Domeyer at (314) 269-2113 or at ldomeyer@sluh.org.

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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