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Lisa Mortimer ’88: Committed to Supporting HB for Life

By Lisa Murtha

Lisa MortimerLisa Mortimer '88 is an HB Lifer and a fourth-generation legacy at the school. She and her husband, Walter Cha (University School '88), sent both of their daughters—Libby '15 and Maggie '17—to HB, too. But those aren’t the only reasons Lisa chose to become a Mary Raymond Legacy Society member.

"Two of the greatest gifts HB gave me were the ability to think critically and to express that through writing and speech," says Lisa. "The teachers asked me to question things and not just accept something as truth for face value."

Lisa learned how unique these gifts were when she went off to study sociology at Bucknell University and later, earn her Master's of Social Service Administration from Case Western Reserve.

"Not being afraid to have a voice in the conversation was not something everyone else had experienced in school," Lisa says. "That really was a gift made possible by the women who came before me."

So, before Lisa and Walt moved back to Cleveland after 13 years in Philadelphia, and even before they had kids, Lisa—then a family therapist and consultant to schools—chose to include HB in her will.

"It's an acknowledgement of that gift to myself," says Lisa, "but also a way to make sure other girls have the same opportunity."

Today, Lisa is an active member of the HB community, serving on the school's board of trustees, chairing the student-faculty life committee and sitting on HB's alumnae council. She's also the incoming president of University School's Hunting Valley Campus Parents' Association (son William is a member of the Class of 2020).

Lisa's life-long involvement with the school gives her a unique perspective on the ways HB has both changed and stayed the same.

"Even though the building and a lot of the programs look different, there are still a lot of common threads—the value of innovation, the value of critical thinking and expression through writing or art," she says. "The school still provides so many opportunities to try out your voice and grow and establish it."

You too can insure that future generations of women will have the same opportunities. If you have any questions or wish to discuss an estate gift for HB, please contact Mary Rainsberger at 216-320-8115 or mrainsberger@hb.edu.

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A charitable bequest is one or two sentences in your will or living trust that leave to Hathaway Brown School 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 Hathaway Brown 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 Hathaway Brown School 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 Hathaway Brown School 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 Hathaway Brown School 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 Hathaway Brown School where you agree to make a gift to Hathaway Brown School 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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