USF needs a strong endowment to ensure long-term stability

Fred Bellum calls the University of Sioux Falls "my foundation." It's where he developed a desire to serve others, and it's where he solidified his understanding of the "mission of Christians in the world."

Today, more than 50 years later, Bellum and his wife, Renee, are strengthening the University's "foundation" with a gift to its endowment fund from their IRA (individual retirement account). Under the Pension Protection Act of 2006, money can be transferred from an IRA to a qualified nonprofit without paying federal income taxes.

Bellum, who graduated from USF in 1955 with a major in physical education and minors in math and chemistry, took the school's "Culture for Service" motto to heart. He forged a career in education, starting as a teacher in his hometown of Timber Lake, S.D., and retiring as superintendent of the Columbus, Neb., public school district.

"To me," says Bellum, "'Culture for Service' meant that my education required me to go and serve others—which I did. And most of my friends at the University went to professions that serve people.

"I believe in this mission, and believe that the University of Sioux Falls needs a strong endowment to keep it stable in future years."

In addition to the gift from their IRA, Bellum and his wife donate monthly to the University, contribute to various fundraising events and will leave USF a bequest in their will.

"Giving from an IRA works well," says Bellum, a member of the USF Board of Trustees since 1999. "You can give without paying income taxes and it helps the endowment.

"At this time in our society, small Christian colleges play a tremendous role—and have a unique niche—in preparing students for the future. A strong endowment ensures that (the University of Sioux Falls) will always be here."