Join the visionary group of individuals committed to preserving the future of Helen Bush’s dream of The Bush School. Your estate commitment will create opportunities for students for generations and provide the gift of education, inquisitive and nurturing exploration, and community that our students cherish today. Join members of The Bush School community in creating a legacy for the future.
We’re here to help! Below are three quick actions steps you can take if you are interested in making a planned gift to the Bush School:
1. Contact Sharon Hurt at 206-326-7776 or email@example.com
for additional information on bequests or to chat more about the different options for including The Bush School in your will or estate plan.
2. Seek the advice of your financial or legal advisor.
3. If you include The Bush School in your plans, please use our legal name and federal tax ID.Legal Name
: The Bush SchoolAddress
: 3400 E Harrison Street Seattle WA 98112Federal Tax ID Number
: Please contact us for our federal tax ID number.
If you are curious about how to determine which Planned Giving vehicle may be best for you, PlannedGiving.com provides helpful resources here
. Below are some brief descriptions of common Planned Gift types with examples of how the contribution benefits both The Bush School and the planned gift donors.Some Common Types of Planned Gifts
Memorials and Tribute Gifts: Honor Someone Special With a Future Gift in Their Name
Establishing a memorial or tribute gift is a meaningful way to honor or memorialize your loved one. This type of gift is lasting tribute to your loved one and make a difference in generations of students and faculty at The Bush School.
An Example of How a Memorial or Tribute Gift Works:
When Mary's father passed away, she knew she wanted to do something that would ensure his memory would live on. She remembered that during his lifetime he mentioned how grateful he was for the education his children had been provided at The Bush School.
Mary decided to make a gift to The Bush School in her father's name. Now her father's legacy lives on at The Bush School. With this gift, Mary also received a federal income tax charitable deduction and also a eliminated capital gains tax.
Make a Gift Tax-Free With An IRA Rollover Distribution: A Tax-Saving Way to Help The Bush School
If you are 70½ years old or older, you can take advantage of a simple way to benefit The Bush School and receive tax benefits in return. You can give any amount up to $100,000 per year from your IRA directly to a qualified charity such as ours without having to pay income taxes on the money. This popular gift option is commonly called the IRA charitable rollover.
Why Consider this Gift?
Your gift will be put to use today, allowing you to see the difference your donation is making. You pay no income taxes on the gift. The transfer generates neither taxable income nor a tax deduction, so you benefit even if you do not itemize your deductions. Since the gift doesn’t count as income, it can reduce your annual income level and may help lower your Medicare premiums and decrease the amount of Social Security that is subject to tax.
Make an Endowed Gift: Your Gift Can Last Forever
An endowment gift to The Bush School today provides long-term stability for the education we provide. When you make a donation to our endowment, you give a gift with both immediate and long-term benefits. Endowment donations are invested. A portion of the annual income from the investment is used to address immediate needs at The Bush School. The remaining funds are reinvested and strengthen The Bush School's financial foundation.
An Example of How Endowed Gifts Work:
Longtime supporters Meredith and Fred have two goals: First, they want to make sure The Bush School continues to receive support after they're gone. Second, they want to memorialize Fred's parents, Mr. and Mrs. Smith. Meredith and Fred make a $50,000 donation to The Bush School, which we invest, and each year, a portion of the income from the invested money will be used to support our mission in honor of the Smiths. Plus, Meredith and Fred qualify for a federal income tax charitable deduction on their taxes.
Charitable Lead Trust Contributions: Protect Your Assets
You can benefit from the tax savings that result from supporting The Bush School without giving up the assets that you'd like your family to receive someday with a donation in the form of a charitable lead trust.
There are two ways that charitable lead trusts make payments to The Bush School:
- A charitable lead annuity trust pays a fixed amount each year to The Bush School and is more attractive when interest rates are low.
- A charitable lead unitrust pays a variable amount each year based on the value of the assets in the trust. With a unitrust, if the trust's assets go up in value, for example, the payments to The Bush School go up as well.
An Example of a Charitable Lead Trust Gift Works:
William would like to support The Bush School and provide for his children. George received a windfall amount of income and needs a large income tax deduction to offset the income. Following his advisor's recommendation, George funds a grantor charitable lead annuity trust with assets valued at $1,000,000. George's trust pays $70,000 (7% of the initial fair market value) to The Bush School each year for 15 years, which will total $1,050,000. After that, the balance in the trust reverts back to George. He receives an income tax charitable deduction of $955,700. Assuming the trust earns an average 6% annual rate of return, George receives approximately $767,240 at the end of the trust term.
*Based on a 1.2% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.