Peter and Julie Heimark

Planning for the Future Legacy Gifts

Peter and Julie HeimarkPeter and Julie Heimark’s experience as Campbell Hall parents spans all three divisions, beginning when their oldest, Kjiel '24, started in kindergarten. With their youngest, Kazi '26, now in high school, they have a broad perspective of the school and its offerings. Julie has served in numerous volunteer positions at CH, including as Parents’ Association President for two years and Executive Vice President for one year as well as Bagpiper’s Ball Auction Co-Chair, Hospitality Co-Chair, and Class Coordinator.

“One of the most important aspects of the school for us was the focus on spiritual development,” says Julie. “We wanted our children to have the opportunity to be part of a community that embraces and teaches the same values that we, as a family, live by.”

They found that their children were not only receiving a strong moral foundation, but were flourishing through the exploration of a number of varied interests. “Our kids have been given so many opportunities to discover different aspects of who they are,” says Peter. “They’ve participated in musicals, theater, dance, sports, and math olympiads, finding some of their passions along the way. Campbell Hall is a place that truly lets kids direct their own journey and supports them every step of the way.”

When the Heimarks were renewing their life insurance policy, the provider gave them the opportunity to designate a charity as a beneficiary at no additional cost to them. This has become an increasingly common practice among life insurance companies, winning some clients over with this gift-giving strategy. It benefits the client, the insurance company, and the charitable organization!

Legacy gifts are vital to Campbell Hall’s long-term financial health by providing a future revenue stream that can supplement other means of raising funds. As an integral part of their family for more than a decade, the Heimarks felt that there was no better nonprofit to designate their gift to than Campbell Hall. “As the Parents’ Association President at the time, I was involved in helping Campbell Hall celebrate the 75th anniversary,” Julie explains. “It was a momentous occasion that brought the whole community together. It was then that I really contemplated the longevity of the school and it brought home to me the need to sustain such an important educational institution.”

A charitable bequest is one or two sentences in your will or living trust that leave to Campbell Hall 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

"I give to Campbell Hall, a nonprofit corporation currently located at 4533 Laurel Canyon Boulevard, Studio City, CA 91607, or its successor thereto, ______________ [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 Campbell Hall 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 Campbell Hall 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 Campbell Hall 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 Campbell Hall where you agree to make a gift to Campbell Hall 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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