Comprehensive Resource Campaign
John and Arlene Peterson: Indebted to Bethel
"We feel we're in debt to Bethel in a sense for our education and that of our children,"says Arlene Peterson. "It's a wonderful community. Many of the closest friendships we and our children have are still rooted in Bethel."
The Petersons give faithfully to the Annual Fund, which bridges the gap between tuition and Bethel's actual operating costs. They have also taken advantage of a deferred giving option called a Charitable Remainder Unitrust. Working with the Bethel Foundation, the couple deeded rental property to Bethel, who sold the units and created a trust. John and Arlene have an income stream from the fund, but the principal will go to Bethel upon their death. The transaction helped the Petersons avoid capital gains taxes and the expense of selling real estate.
"It's right to pay attention to the tools available to pass some assets on to Bethel, rather than to estate and income tax," says John. "We think Bethel has the opportunity to educate more Christian young people who can impact the world."