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It Is More Blessed To Give Than To Receive

It Is More Blessed To Give Than To Receive
Avoiding $96,000 in capital gains tax they transferred their rental property to a Charitable Remainder Trust (CRT), which provides a secondary retirement income.

These are the words of Hank and Sherri Bode as they describe their investments in Azusa Pacific University. Together they have served 75 years at APU in teaching, administration and as donors.

The Bodes chose an effective estate planning tool available to anyone holding appreciated assets. Avoiding $96,000 in capital gains tax they transferred their rental property to a Charitable Remainder Trust (CRT), which provides a secondary retirement income. This donation also reduced their Federal and State income taxes. They will establish an endowment fund providing scholarships. It is a win/win situation for the university and the Bodes.

Hank has a unique childhood story as he grew up in Haarlem, Holland during World War II. His father worked in the underground for which he received a recognition medal from Queen Wilhelmina of Holland. His parents took considerable risk by hiding a Jewish girl in their home. Two of Hank’s school mates were killed during one of the many bombing raids. When he was 15, Hank’s family immigrated to America leaving many of their possessions behind to start a new life in Anaheim, California.

Sherri Spurling Bode grew up in a Christian home as a preacher’s daughter. She knew APU was the place for her when she heard the college choir in Seattle. Shortly after arriving at APU, Sherri and Hank met at the Free Methodist Church in Anaheim. They married two years later.

Music has always been a passion, talent and love in Sherri’s life; at the age of four she sang in the “Spurling Sisters” trio. After graduating from APU with honors, the Music Department recognizing her talents offered her a part time teaching position even before completing her Masters of Arts degree in vocal performance at Cal State Fullerton. That was the beginning of a 30 year career as a professor of music at APU for Sherri.

Hank began his 45 year career at APU as the Chief Financial Officer in 1965. After receiving his MBA from Pepperdine, APU invested in Hank and encouraged him to pursue his law degree. Today he holds the title of Vice President Emeritus and works in the estate planning office. Hank enjoys telling donors that an investment with APU pays outstanding dividends as evidenced by the graduates who have made significant impact around the world.

Hank and Sherri know APU is a place where students can grow spiritually, academically and socially. They have witnessed this in both of their children, Brian and Suzanne, who graduated from APU. This fall their first grandchild, Brianna, will be attending APU.

The Charitable Remainder Trust is a great way to invest at APU because the Trust proceeds will be used to train Godly leaders. As Sherri says, “It truly is a blessing to give, but we have received even more than we have given - a joyous and satisfying life and blessings beyond our wildest dreams.”


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