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Gift & Estate Planning

A Can-Do Attitude

Glenn Johnson SheffieldGlenn Johnson Sheffield '54 has been a positive force in the St. Louis community for many years, and in many ways. The former Mayor of Webster Groves serves countless hours on volunteer boards, is an involved and invested citizen, and supports the arts and education in the St. Louis area. Burroughs holds a special place among the lucky group of organizations she supports. Several years ago, Glenn informed the school she had included JBS in her estate plans. "It's so much easier than people think it is," she says.

"Everyone has the idea that you have to be 'rich' to do this kind of thing, but that's absolutely not true—in fact, anyone can do it," says Glenn, a former member of the JBS Board of Trustees and 2001 Outstanding Alumna. She has designated a percentage of an individual retirement account for Burroughs, a popular choice for those seeking a simple way to include a favorite charity in their estate planning. "It gives you the flexibility to hold on to what you need throughout your lifetime, and the opportunity to give what you can later on."

"Everybody, from an early age, needs to plan what they want to do with their assets and with their estate," says Glenn. "If Burroughs is important to you, this is a way you can help ensure that the school keeps doing the good work it does well into the future. Our kids, (John '79, Ellen '83 and Jamie '85) came to Burroughs and now our grandchildren are JBS students."

Memories of her first day on the Burroughs campus remain crystal clear. "I took the entrance test in the dining room," she recalls. "I can still see myself there, like it was yesterday." She remembers with fondness the '49ers' — the class of seniors who graduated the spring of her first year at JBS. "That whole class was remarkable — real standouts."

Thinking back to her teachers at JBS, Glenn fondly remembers Ralph Weinrich, among others. "I loved to sing, and he actually let me!" she laughs. "He didn't let everyone sing all the time in the glee club. He'd call out to someone saying, 'You, don't sing!'" A highlight for Glenn's singing career at JBS was her performance as Meg Brockie in Brigadoon her senior year. "It was so much fun! People would stop me and say, 'Oh, you're the girl from the show!'"

Though she understates her contributions, Glenn has left her mark on dozens of organizations and activities — everything from zoning codes to mental health to opera. She immersed herself in service activities after her children entered school. In 1972, she joined the Board of Directors of The Repertory Theatre. Given the job of overseeing the conversion of the Brown House into an after-theater club, she learned about for the first time about the various city codes. The next thing she knew, she was on the Webster Groves City Plan Commission. From there she went on to serve on the City Council and was elected as mayor of the city in 1986, serving for eight years. She served on the board of trustees of the Metropolitan Sewer District from 1994 to 2000 and dubbed herself "Queen of the Sewers."

Despite the demands of the public sector, Glenn has always maintained her loyalty to favorite not-for-profit organizations. She is a former trustee and former president of the alumni association for her alma mater, Smith College. In addition to long-time service as a board member of The Repertory Theatre, Glenn has been involved with the Opera Theatre of St. Louis since its beginning 40 years ago and has served as a member of the board since 1981. Additionally, she has recently joined the boards of Ballet Saint Louis, the Webster Community Arts Foundation and Project, Inc., a sheltered workshop for adults with developmental disabilities. "I enjoy what I do. I believe that work is an important part of life. I haven't done much work for money, but I've truly enjoyed everything I've been involved in. Obviously, I still can't resist it!"

How to Make a Difference
Giving back to the organizations that mean the most to you and your loved ones is easier than you think.

When you are planning your estate, consider a beneficiary designation, like Glenn's gift. A legacy gift benefitting Burroughs will allow you to make a real difference for JBS students after your lifetime.

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A charitable bequest is one or two sentences in your will or living trust that leave to Burroughs 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

Bequest Language

The official legal bequest language for John Burroughs School is: "I give to John Burroughs School, a nonprofit educational institution located at 755 South Price Road, St. Louis, Missouri 63124 and incorporated under the laws of the State of Missouri, the sum of $_______ [or the following described property or a designated percentage of my estate], to be used for its general educational purposes."

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 JBS 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 JBS 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 JBS 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 JBS where you agree to make a gift to JBS 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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