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Gift & Estate Planning

Holekamp Family Chair in Athletics Honors Athletic Directors Past and Present

The new Athletic Center opened in 2013The $45 million Campaign for Burroughs transformed 40 percent of the campus, including athletic facilities, performing arts spaces and student areas. The campaign also strengthened the school's endowment. Longtime Burroughs supporters Kerry and Bill Holekamp '66 were able to double their contribution to the campaign through a legacy gift—half as an outright gift and half through an insurance policy.

Through their support, Kerry and Bill created the Holekamp Family Chair in Athletics, an endowed chair that supports the school's athletic director. The chair honors all of the school's greats: Tom McConnell, Skippy Keefer, Jim Lemen and many more in our 90-year history. Peter Tasker has held the position since 2010. As part of their gift, the Holekamps also named the athletic director's office in memory of Bill's father, Louis R. Holekamp.

Thanks to the Holekamps and more than 1,400 other members of the JBS community, the school received donations and pledges to the Campaign for Burroughs exceeding $45 million.

Throughout the campaign, several Burroughs families significantly increased their contributions through legacy gifts, while realizing substantial tax savings. Legacy gifts, also referred to as planned gifts, can be given now to immediately support JBS or can be part of an estate plan as a way to leave a final legacy. Here are some legacy giving options:

A Gift of Life insurance

  • You can name Burroughs as the sole beneficiary (or co-beneficiary) of an existing life insurance policy. After your lifetime, the proceeds of the policy go to JBS.
  • You can make Burroughs the owner of a new policy, resulting in more tax savings for you. The face value of the policy is removed from your taxable estate, future premiums paid on the policy can be treated as charitable gifts, and if the policy has a cash value, you can take an immediate tax deduction.

A Gift in Your Will or Revocable Living Trust
You can name Burroughs in your will or trust by adding just a few simple sentences to your estate plan. Because this gift doesn't go into effect until your death, you can change your mind at any time. You can leave a specific amount, a specific percentage of your full estate or your entire estate to Burroughs.

A Gift That Provides You with Income for Life
Through a life income gift, you give a gift to Burroughs and, in return, Burroughs will provide you or someone you designate with an income for life. After your lifetime, the remaining balance of your gift supports Burroughs. Charitable remainder trusts and charitable lead trusts are popular options.

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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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