Passion Is Jim Hubbard's Driving Force

Jim HubbardA passion for Fort Worth Country Day is what drives Jim Hubbard's active role in both fundraising and planned giving for the school. "My girls literally grew up here," he says. "The young women they have become — their ideals, morals, values, self-confidence and success — is a tribute to the school and the experiences they had here."

Parents to two FWCD graduates, Jim and his wife, Teresa, have always been supportive of the school's fundraising efforts. "There is no private school or college that runs without an annual fund. It's the lifeblood of the school's operations," he says. One year ago, the couple became more involved in planned giving, joining the Peter A. Schwartz Legacy Society, which is named for the school's founding headmaster.

"It makes perfect sense for parents, grandparents, past parents and alumni to make a planned gift," Jim says. "If we all leave a little bit, we collectively create a tremendous legacy for the future."

Jim's goal as former advancement committee chairman and planned giving ambassador is to continue to educate those closest to the school about the importance of including Fort Worth Country Day in their estate plans. "These gifts help build our endowment, which, in turn, ensures a strong future for the school and the next generations of students," he says.

He hopes that the school's ongoing outreach efforts will encourage others to join the Legacy Society. "There is so much flexibility in making a planned gift," Jim says. "You can designate a set percentage of your estate or even a specific amount." As for the right time, he added: "You are never too young to start thinking about the future of your children and your grandchildren."

A charitable bequest is one or two sentences in your will or living trust that leave to Fort Worth Country Day 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

"I, [name], of [city, state, ZIP], give, devise and bequeath to Fort Worth Country Day School [written amount or percentage of the estate or description of property] for its unrestricted use and purpose."

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 FWCD 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 FWCD 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 FWCD 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 FWCD where you agree to make a gift to FWCD 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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