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Nanci Fox Taylor: Remembering What's Important in Life

Nanci Fox Taylor Early in their marriage, Nanci Fox Taylor and her husband, John, created a will in which they named several organizations that had played an important role in their lives, including Hathaway Brown.

"Hathaway Brown has been part of my life almost as far back as I can remember," says Nanci, who entered HB in seventh grade and graduated from high school in 1972. "My mother, Joan McDonald Fox Graham, was in the Class of 1949 and my sisters, Debbie Fox Roderer and Betsi Fox Oliver, followed me at HB."

Nanci often thinks of her mother, who passed away in 1984 at the age of 52. She remembers how important it was for her mother to give back to the school as a volunteer. Her mother also left a gift to Hathaway Brown in her will.

When she recalls her own experiences at HB, Nanci considers them to be "life-shaping." As a junior, she was managing editor of the school newspaper, The Hathaway Brown Review. That experience nurtured her love of writing and her interest in the newspaper field. At Dickinson College, Nanci wrote headlines and articles for the newspaper and, as part of the layout department, was responsible for "putting together a puzzle" of headlines, articles and artwork. She became managing editor of The Dickinsonian in her junior year and was appointed editor-in-chief as a senior.

Today, Nanci and John are permanent residents at a Virginia mountain resort. They devote much of their time to Wintergreen Performing Arts (WPA) and its month-long music festival that includes 250 artistic events. Nanci has served as board vice president and chair of the marketing committee. She continues to feed her love of language by editing and proofing just about everything that comes out of the organization. "It seems like someone is always asking me to proofread," Nanci says. "I still have my ninth grade grammar book, which I refer to on occasion when I am editing."

Nanci's recent involvement in development efforts for both WPA and Dickinson has shown her that every contribution counts. She understands that a will is a private and personal matter but has come forward with her decision to include HB in her own will with the hope that it may inspire others to do the same. "It's important that the fine opportunities HB affords to young women are there for the next generation," Nanci says.

Leaving a gift in your will or estate plan is meaningful and enduring—and it is a gift that almost everyone can make. To find out more about this planned giving opportunity, please contact Terry Kurtz at 216-320-8799 or tkurtz@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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