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Giving Back to Something Bigger

Jim McLaughlin and Nancy Hillman Lacy

Jim McLaughlin and classmate Nancy Hillman Lacy ’73 on campus for the luncheon during their 45th reunion in 2018.

Can two years in a school be more than a fleeting teenage experience or truly leave a lasting impact on a student? They were—and they did—for Jim McLaughlin ’73, who joined Peabody Demonstration School for his junior and senior åyears. For Jim, PDS was a rare example of a private Nashville high school where students were given great opportunities to explore their potential and personal interests. He thrived in this unique school environment.

“I learned later in life that going to this school was to become something bigger, and it prepared me for successes in a competitive, evolving social world. I’ve continued to be impressed by the commitment to excellence in education with an emphasis on recognizing and empowering diversity.

“Since my graduation in 1973, I have kept up with USN and maintained lifelong friendships with former classmates—those friendhips originally formed in and outside the classroom—in musical groups and art projects, on Student Council, and yearbook staff.”

Jim has followed the school’s development since PDS transitioned to University School of Nashville and through the decades. “I realized I went to school with and knew many members of the Board of Trustees and school leaders who contributed to the school’s financial foundations.”

Professional life and travel have brought intersections with fellow USN alumni, and Jim continues to be amazed at the broad range of successes for alumni in many fields: business, art, politics, publishing, law, medicine, and more.

“This school gave me many gifts and for that I am grateful. I encourage fellow alumni to reflect on how your life would have been without PDS/USN. I hope to ‘pay it forward’ to the next generation of students by giving annually and including the school in my will. Both ways of giving ensure the legacy of USN.”

Give a gift that supports future students. To learn more about leaving your mark at USN, contact Anne Westfall at (615) 277-7495 or awestfall@usn.org.

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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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