The Episcopal Day School Endowment Fund was established in 1960 from an initial donation by Hubert Hudson and trustees Dr. James Stillman, Hubert R. Hudson, Kermit Cromack, Fount Ray, and Clyde Tandy, to provide for the advancement of the Episcopal Day School. The Endowment Fund allows family, friends and alumni of EDS to give through a variety of means.
The Endowment Fund encourages and facilitates the giving of material gifts such as money and property. The funds enhance and supplement the financial resources of the Episcopal Day School beyond the annual operating budget and annual fund campaigns of the school. Participation in the program enables friends of EDS to present a gift that will continue to give for generations to come.
Gifts of all sizes are appreciated, and may be made during one’s lifetime or through one’s estate. Funds are applied based on recommendations from the fund administrator and approved by the Endowment Board. Memorial gifts are also encouraged.
Endowment Board Members
Liz Hainley – President
Frank Wood – Secretary
Bill Conner – Treasurer
Wesley Reed – Trustee
Nancy Rodriguez – School Board President
Lynda McCrocklin – School Director (non-voting member)
Laurie McKim – Advent Rector (non-voting member)
CHARITABLE GIFT ANNUITY
Make a gift of cash or stock today to receive guaranteed income for life at attractive rates, an income tax deduction, and benefit the Endowment fund’s programs beyond your lifetime.
BEQUEST BY WILL OR LIVING TRUST
Make the Endowment fund a beneficiary of your estate to reduce taxes and benefit the school’s programs beyond your lifetime.
GIFTS OF SECURITIES
This method can create an income tax deduction, avoids long-term capital gains tax and reduces estate taxes, all while benefiting The Episcopal Day School.
GIFT OF RETIREMENT PLAN
Name the Endowment fund as beneficiary of your IRA, 401(k), 403(b) or other plan, and avoid taxation while benefiting The Episcopal Day School.
GIFT OF LIFE INSURANCE POLICY
Name the Endowment fund as beneficiary of an existing paid-up whole life policy.
CHARITABLE REMAINDER TRUST
Set aside assets today such as cash, securities or real estate, and receive income for life, an immediate income tax deduction, estate tax savings, and create a future gift for EDS.
Please refer to these Frequently Asked Questions in Regards to our Endowment Program.
I have questions about the endowment fund, who can I speak to?
If you have questions about the endowment fund or planned gifts, please contact, Board President, Liz Hainley at email@example.com who can put you in contact with our financial advisor or someone who can address your specific question.
What is the difference between the Annual Fund and Endowment Fund?
• Annual giving supports the operating budget and, thereby, benefits current students each year.
• Endowment giving benefits current and future students. The original gift is invested in the pooled endowment fund.
I would like to make a gift to the Endowment Fund, but I am undecided whether to make a gift during my lifetime or at my death. What are the pros and cons?
A gift during your lifetime would give you an income tax deduction and would reduce your income taxes if you itemize; however, one must re- member that as a result of making such a gift to the Endowment Fund in your lifetime, you would no longer receive the income generated by that gifted asset, unless a sophisticated instrument (charitable trust) were utilized which allowed you to retain income from the gifted asset for your lifetime. A gift through your estate might allow you to make a larger gift since you would be using financial resources which might no longer be needed after your death – particularly if you survive your spouse. A gift through your estate would reduce your taxable estate if your estate were subject to estate taxes.
What is the proper name and address of the Endowment Fund to be utilized if I want to make a gift during my lifetime or upon my death?
Episcopal Day School
34 N. Coria Street
Brownsville, TX 78520
Some beneficiary forms will also require you to include the federal tax identification number, which is: 74-6046723.
Is there a donation form?
Please complete this form and mail to the address listed above.
Why should I consider contributing to The Episcopal Day School Endowment Fund (“Endowment Fund”)?
The Endowment Fund is in place to provide a large, stable financial base for EDS which would allow the school to withstand a severe recession or a catastrophic occurrence. The Endowment Fund is also a good choice for a memorial to a deceased friend or family member.
If I want to make a gift to the Endowment Fund through my Will, or Revocable Trust, do I have to re-write my estate-planning document?
No. If you have a Will you can simply execute a codicil which acts as an amendment to your present Will, or if you have a Revocable Trust, you can simply execute an Amendment to that document. These are very simple procedures; however, as it is prudent to review your estate planning documents periodically, such a decision presents a good opportunity to do so.
If I decide to make a gift through my Will or Trust, must I designate a fixed amount of money?
No. There are several options. First one could specify a fixed amount of money; second, one could specify a fixed percentage of his/her estate; third, one could specify a fixed percentage of his/her residual estate (that portion remaining after other specified bequests have been made); and fourth, one might also designate the Endowment Fund as a contingent beneficiary— meaning that the Endowment Fund would only receive a gift if a primary beneficiary dies first.
May I provide for a gift of real estate or bequest personal property in my estate planning documents to the Endowment Fund?
Absolutely. The Endowment Fund would receive this property through your Will or Revocable Trust and would sell the property and invest the proceeds.
How do I make a gift at my death from my IRA account?
You could simply execute a new beneficiary form and submit it to the financial institution holding your retirement account. You may name the Endowment Fund as the primary beneficiary, but if you are married, you would probably elect to name your surviving spouse as primary beneficiary, and the Endowment Fund as secondary beneficiary, unless your surviving spouse would not need or want to be named as primary beneficiary. Also, if your surviving spouse were named as primary beneficiary at the time of your death, you could provide that if your surviving spouse disclaimed any interest in the IRA account, such disclaimed interest would result in the disclaimed asset(s) being distributed to the Endowment Fund.
How do I make a gift at my death from my 401 K account, SEP, or Keough?
In the same way you would make a gift through your IRA account.
If I have a life insurance policy on my life that I no longer need, how do I make a gift of same or a portion of the proceeds of that policy at my death?
As owner of the policy, you should simply complete a new beneficiary form and submit it to your life insurance company.
If I don’t want to make a gift through my estate, but wish to help build the Endowment Fund, will you accept cash or securities now?
Absolutely. We appreciate and will accept any gifts of cash or securities at any time.
How is the Endowment Fund invested?
The allocations of our investment fund are revised periodically and reviewed on a frequequent basis by our Endowment Board. Our board is advised by Wells Fargo Advisors regarding our portfolio. The portfolio is comprised mostly of low-risk mutual funds and a small portion of stocks.
Can I cancel my gift to the Endowment Fund made through my estate planning documents or retirement account if some unforeseen problem occurs?
Certainly. During your lifetime, as long as you remain mentally competent, any such future gift can be completely cancelled by simply revising your estate planning documents, or by removing the Endowment Fund as a beneficiary of your IRA, 401 K account, SEP, Keogh (or any other retirement plan) or life insurance policy; however such designations become final and irrevocable upon your death.
I still have some questions, who can I contact?
If you have general questions about the Endowment Board and projects, please contact President, Liz Hainley: firstname.lastname@example.org . Liz can put you in touch with someone who can answer your specific question.
Thank you for your interest in the Episcopal Day School and we appreciate your consideration in donating to the EDS Endowment Fund!
34 N. Coria Street, Brownsville, Texas 78520 • Phone: (956) 542-5231 • Fax: (956) 504-9486 • © Episcopal Day School, 2015, All rights reserved.