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Building Community

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Margaret and Bill Howell grew up in Nashville and, other than their college and graduate school years and eight years in Denver, consider themselves lifelong members of this community. When they returned to Nashville in 1985 for Bill to practice as an historical architect, their daughter Ruth was entering first grade. Fortunately they knew where to begin looking at schools. After all, Margaret's sister Gertrude Caldwell was President of the Board at USN.

"USN was the place for us. We loved the diversity and our girls' broad exposure to so many educational opportunities throughout their sixteen plus years. The teachers really brought out our kids' interests and talents. For example, our daughter Ruth was inspired by Dr. Bibring's science classes to study marine biology. She has worked with the National Marine Sanctuaries in San Francisco, and is now working in D.C. with NOAA. Lorene found her passion in Spanish, thanks to Ms. Iglesias, and in art thanks to Liz Mask and other USN art teachers. She mounted a gallery exhibition as her final project at Hampshire College. And don't forget ultimate Frisbee which continues to be her favorite form of exercise."

Current USN parents have Margaret to thank for helping to develop the Parent Network, a true community-building support network for parents to share ideas, discuss common issues, and learn from each other. She was a member of the USN Board, and, as professor of Italian, very interested in USN students' early exposure to foreign languages. And Bill was busy during his USN parent years volunteering his professional expertise to the long-range planning committee for school expansion, resulting in 3rd floor renovations and the Sperling Center.

The Howells want to see this unifying sense of community continue, both on and off campus, for generations to come. They recently rewrote their will with this goal in mind and have added USN as a beneficiary. Bill says, "University School is an important institution in our city. We want all those things we loved about USN to be there for the next generation. As we look at our values and what is important to us, we are interested in organizations supporting education, advocacy and community organizing for social justice. USN falls into this category."

USN remains a significant community in their lives. It began when Ruth entered first grade and continues to this day. Margaret's "USN moms group" is made up of almost a dozen past USN parents who still get together for lunch and special occasions. "We are not a homogeneous group, nor were our children when they were students at USN; that's what I love about all of us. We have different cultures, employers, interests. All of those qualities still appeal to Bill, to me, and to our kids. That's what keeps us connected to this community. Our girls thank us for sending them to USN!"

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Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

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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