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Two Short Years Made a Big Difference for Priscilla Krider Rensis '47

Priscilla Krider Rensis When she arrived at Hathaway Brown as a junior in high school, Priscilla Krider Rensis began creating memories that still make her smile. She entered with Barbara Gibbs, her friend from Canton, Ohio, and the two lived together in Raymond Hall. "I remember studying under the covers with flashlights, and cramming for tests with Barb," Priscilla says. "I also recall boys throwing snowballs at the window to get our attention." Most of all, Priscilla credits her HB education for paving the way to acceptance at Wellesley College.

Since graduating from HB in 1947, Priscilla has been a consistent contributor to the annual fund and she also created a charitable gift annuity with HB, which places her in the Mary E. Raymond Legacy Society. "I have been involved with the Legacy Society at our church, so I was very familiar with the benefits to the recipients of such legacy gifts as well as the many benefits for the donor," she says. "Because of the familiarity, I wanted to do something special for HB."

Priscilla believes her philanthropic spirit began with the example of her mother, who volunteered with the American Red Cross Gray Ladies during World War II. "I even rolled bandages for the troops with Mother," Priscilla says.

After Priscilla and her husband, Ray, moved their four children to Madison, Conn., she became the church school director at St. Andrew's Episcopal Church and was involved in a multichurch project to help a Vietnamese family settle in Madison. Later, she volunteered as project coordinator to welcome and help a family of eight who had escaped from Serbian rule in Kosovo. "Language, rides, jobs, schools, the town and beaches kept us busy for many months," Priscilla says.

More recently, Priscilla has been active with the 1685 Deacon John Grave House Foundation, a local historical site and museum, preserved for its 17th century architectural integrity. Much of this was possible because of her 33-year career as a realtor, associated with a company that strongly believes in giving back to the community.

"I was fortunate to have two good years at HB," Priscilla says. "Contributing was an easy decision. I owned some nicely appreciated stock, so a charitable gift annuity made good sense in my particular situation."

You may wish to consider a charitable gift annuity with HB as part of your planned giving. A gift annuity is a simple contract between a donor and HB. The donor makes a gift of cash or property to HB and, in return, we agree to pay the donor fixed, dependable payments for life. Upon the donor's passing, the gift transfers directly to HB. For more information on this planned giving opportunity, please contact Terry Kurtz at 216-320-8799 or tkurtz@hb.edu">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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