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The Zelle Society

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The Zelle Society is named for Robert K. Zelle, who died in June of 2010.

Bob Zelle was a philanthropist with a special interest in education. In the early 1980's, when Harvey Sperling was USN's director, Mr. Zelle found that University School reminded him in many ways of his alma mater, the John Burroughs School in St. Louis. In 1985 he joined the USN Board of Trustees, serving for twelve pivotal years of the school's growth and development.

When he retired from National Life and Casualty in 1970, he turned his attention to investment and philanthropy. He served on the boards of Darlington School, Vanderbilt University Medical Center, University School of Nashville and Alive Hospice. He was one of the founders of the Community Foundation of Middle Tennessee. In 1980, he founded Reel Broadcasting Company and WZTV- Channel 17, Nashville's first independent television station.

In 1989, Bob Zelle established a charitable remainder unitrust, naming USN as a beneficiary. This testamentary gift was the largest of its kind in the history of the school. In honor of exceptional philanthropic leadership, the USN Board of Trustees established the Robert K. Zelle Society, a donor recognition society. The Society was announced in 1997, and Bob was honored at the October 1997 board meeting with a formal resolution.

University School of Nashville benefited from Bob's wisdom. From his time on our Board of Trustees (1985 - 1997) through 2010, he supported and advised our school's Directors (Harvey Sperling, Ed Costello, and Vince Durnan). Each found his leadership and counsel invaluable.

"I believe very much in secondary school education, and University School is worthy of my support. I know of no other school where parents and students alike appreciate and enjoy the learning that goes on here."

The Zelle Society membership recognizes friends of the school who have made a provision for USN in their estate plans. Today, the Zelle Society includes estate planning vehicles from a growing group of trustees, alumni, parents, grandparents, and faculty. And University School remains grateful to its namesake, Robert K. Zelle.

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A charitable bequest is one or two sentences in your will or living trust that leave to University School of Nashville 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 University School of Nashville [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 USN 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 USN 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 USN 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 USN where you agree to make a gift to USN 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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