FRIENDS SUPPORTING EXCELLENCE AT NOLS | A PUBLICATION OF THE NOLS DEVELOPMENT OFFICE | MAY 2021
NOLS’ STEP FORWARD CAMPAIGN ENDS ON TIME AND OVER GOAL
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ive years ago, NOLS mapped out a daring plan: to raise $30 million dollars by Dec. 31, 2020. Thanks to the generosity of thousands of donors in that half decade, including many of you, we reached that goal. In fact, we exceeded it, tallying $31 million when the calendar-year page turned. Step Forward: The Campaign for NOLS closed successfully and in the designated timeline, in spite of the monumental financial challenges of 2020. Thank you for the part you may have played. During the Step Forward campaign, donor support provided: Nearly $15 million for Immediate Support The global pandemic created a situation that required immediate support for the continued success of the school. Unrestricted philanthropic gifts instantly and directly support our students, instructors, programs, curriculum, and research. $13 million for Access and Affordability
Access and Affordability is the campaign priority where we seek to drive focused investment to the endowment so that we can help students secure access to a NOLS education. For over fifty years, we’ve built NOLS into the world-class institution we are today, and it was time to bring our life-changing experiences to a wider audience. The campaign strengthened and extended our
Step Forward: The Campaign for NOLS strengthened and expanded our mission. Lindsay Nohl
mission, making a NOLS experience more accessible and more affordable in order to educate the leaders of tomorrow—students as diverse as the world and as broad as the wilderness. We are proud to work with a variety of national and local organizations to give underserved and underrepresented youth the tools they need to thrive in their academic and professional pursuits. By increasing scholarship funding, we are able to expose more people to the wilderness through full and partial assistance. Additionally, the NOLS Fellowship Program provides people of color with employment and education opportunities
to learn skills that are transferable to any career path. Through a $13 million investment in the endowment we can ensure that strategic priorities like these are not left to chance, securing access to a NOLS education for generations to come. $1.8 million for Campus Improvements The wilderness is at the heart of who we are and what we do. But our physical locations have been vital to facilitate every student’s experience, and today the majority of our students learn wilderness medicine skills for life inside classrooms. CONTINUED ON PG. 4
“While donor generosity sustains us every year, we are especially grateful for gifts given in the last year. Not only did your contributions help us through a potentially ruinous time, but donations to our $30 million Step Forward campaign ended in December of 2020 at a remarkable $31 million. All of this in one of the most challenging years NOLS has ever seen. Thank you.” —Terri Watson NOLS President
FRIENDS IS FOR PEOPLE COMMITTED TO HELPING NOLS PROVIDE THE WORLD’S BEST EDUCATION IN WILDERNESS SKILLS AND LEADERSHIP. This newsletter aims to provide useful and interesting information on charitable gift planning and supporters of the school. NOLS is not engaged in rendering legal or tax advisory services. State laws govern wills, trusts, and many charitable gifts, and these laws vary from state to state. While NOLS welcomes and encourages inquiries about the material in this publication, individuals should consult with their professional advisors when planning their wills or deferred gifts.
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Will Covey
LIFE-INCOME GIFTS: THE GIFTS THAT PAY YOU BACK
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id you know that you can donate an asset to NOLS now and continue to receive income from that property? We call it a “lifeincome gift”—the gift that pays you back. As the name implies, a life-income gift pays you income for life or a term of up to 20 years and lets you realize your philanthropic goals. These gifts pay income and often save taxes—income, capital gains, and estate taxes—for you and your heirs.
Charitable Gift Annuities Of all the gifts that pay you back with a life income, the charitable gift annuity is the simplest. A gift annuity is a contract that you, the donor, sign with NOLS. Unlike a trust, you contribute your gift directly to NOLS. We then agree to pay you or your designated beneficiary a fixed income based on a percentage of the gift. Gift annuities come in all sizes, beginning with as little as $10,000. For example, you might contribute $10,000 to NOLS. If your income is 7 percent of that gift, you will receive $700 every year for the rest of your life. (Gift annuity payments can also be established for two lives—yours and your spouse’s.) Your payments are guaranteed by NOLS, regardless
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on a percentage of your gift. In this case, however, we defer income payments until a future date, usually when you expect to retire or incur college tuition expenses. Because of this postponement, the payment to you is higher than the payment for a gift annuity that pays immediate income. The current income-tax deduction is also higher. In addition, part of the principal used to make your gift eventually will be returned to you in the form of income payments, so part of your income will be tax-free. Benefits of a charitable gift annuity fre- The deferred gift annuity is especially attractive to donors still in high-income quently include: years who are looking for both tax deduc• Simplicity tions and additional sources of future • Guaranteed income for life income. • Payments guaranteed by NOLS • Current income-tax charitable deduction Benefits of a deferred-payment gift annuity: • Simplicity • Partly tax-free income • Higher guaranteed, fixed income than a • Partial bypass of the penalty capitalcurrent gift annuity gains tax on the sale of appreciated assets • Partly tax-free income • Estate tax savings, and • Generous current income-tax charitable • A future gift to NOLS deduction Deferred Payment Gift Annuity • Reduction of the penalty capital gains If future income is your goal, you can choose tax on the sale of appreciated assets, and to delay income payments from your gift • Eventual gift to NOLS and wilderness annuity. You make a gift directly to NOLS, education. and we guarantee you a fixed income based of how the gift annuity investments perform. NOLS uses gift annuity rates established by the American Council on Gift Annuities. The annuity-income beneficiary’s age is the deciding factor in determining the payment rate. Gift annuities can be funded with cash or marketable securities. Depending on the type of asset used to fund the gift annuity, a portion of your gift-annuity payments could be tax-free. In addition, you will receive a charitable income-tax deduction for a portion of your gift-annuity investment.
INSIDER NEWS
RECONNECT WITH NOLS’ ALUMNI ONLINE GATHERINGS If you haven’t discovered them yet, be sure to check out NOLS’ COVID-safe Alumni Online Gatherings. This series of live online programs grew out of a desire to stay in touch with our grads in as intimate a way as possible while also following pandemicsafety protocols. Alumni Online Gatherings replace our popular in-person Alumni Reunions, at least for the time being. (But you don’t have to travel to attend!) They include speakers with expertise in subjects like outdoor photography, climbing Mount Everest, and how skills learned at NOLS transfer to your everyday life. Learn how to join us at www.nols. edu/events.
Instructor Lynn Petzold recently spoke about the four leadership styles at an Alumni Online Gathering.
SUMMIT TEAM
WHAT IS THE NOLS SUMMIT TEAM? By Anne McGowan, Development Communications Coordinator
Join the NOLS Summit Team An additional benefit to using a charitable-gift annuity to fund a donation is membership in the NOLS Summit Team, our recognition society for donors who include NOLS in their estate plans or other long-term giving strategies. Through their generous commitments of current and future support, NOLS Summit Team members are creating a legacy for wilderness education.
Call NOLS for More Information None of us donates to NOLS simply to save taxes. Each of us give for personal reasons: a belief in the NOLS mission, a desire to preserve wilderness, a commitment to creating opportunities for wilderness and leadership education, or maybe a compelling interest in the school’s past and future achievements. Regardless of your reason for donating, most individuals want to stretch their assets to do the most good for the most people. Charitable gift annuities and other life income gifts are among the financial arrangements that allow donors to mesh philanthropic goals with personal and family financial obligations.
The Summit Team is our legacy society for those who have included the school in their estate plan or have made a deferred gift to NOLS. They care deeply about the school’s mission and wish to support that work through bequests in their wills and other deferred gifts. Established in 1999, it honors those who have made it a personal priority to support wilderness education. By including NOLS in their estate plans, Summit Team members commit to creating a strong future for the school. The generosity and foresight of the Summit Team ensures that generations of students will be able to experience the rewards of a NOLS education. Presently, the NOLS Summit Team has almost 200 members who have chosen to name NOLS a beneficiary of their estate plan. For many of them, a planned gift conveys a powerful message. It’s a testament to the last 56 years of the school, a demonstration of their strong belief in the power of a NOLS education, and the value of positive, ethical leaders. Members of the Summit Team are recognized in the annual State of the School report. They are extended an invitation each fall to join the NOLS Board of
Summit Team members include NOLS in their will or estate plan. Anne McGowan
Trustees and Advisory Council for the school’s annual meeting and celebration, and receive this newsletter. Additionally, a planned gift can benefit you. By leaving NOLS in your estate plans, you may be eligible for a charitable income-tax deduction on your taxes or avoid estate and capital gains taxes for you and your heirs. You must donate by Dec. 31 to gain tax benefits for this year. Find out how you can help ensure the future of NOLS, leave a legacy, and benefit your heirs. Call 800-332-4280, email us at development@nols.edu, or see www.nols. edu/giving for more information about planned giving at NOLS.
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LIFE-INCOME GIFTS CONTINUED
We would welcome the opportunity to talk with you and your advisors about these and other tax-smart ways to achieve your goals.
For more information about making a legacy gift, or to let us know you’ve left NOLS in your will, contact us at development@nols.edu or 800-332-4280. In all cases, a financial advisor can help you determine the right gift for you. ©Winton C. Smith, Jr.
Prasad Gadgil
Have you left a gift to NOLS in your will or estate plan?
STEP FORWARD CAMPAIGN CONTINUED
As we’ve expanded to 15 locations across seven countries, and NOLS Wilderness Medicine continues to grow, our need for additional infrastructure also increased. And providing ways to maintain the assets we already own was imperative. Through capital improvements, we are poised to meet our growing demand and continue leading the industry through the next fifty years. $1.4 million for Sustainability Donations to the sustainability portion of our goal not only supported our conservation and reduction goals, but endowed a public policy director position. Generous friends and alumni like you stepped forward to ensure NOLS remains here, dedicated to being the leading source and teacher of wilderness skills, producing competent and ethical leaders for communities all over the world, and advocating for our wilderness classrooms.
If you have remembered NOLS in this thoughtful and generous way, please let us know. We’d love the opportunity to thank you and include you in our legacy group, the Summit Team. To contact the NOLS advancement team, call 800-332-4280, or email us at development@ nols.edu.
Planned Gifts Played a Vital Role in the Campaign
PHILANTHROPIC TIDBIT
CARES ACT TAX INCENTIVES EXTENDED—AND BOLSTERED By Anne McGowan, Development Communications Coordinator
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upporters of NOLS and other nonprofit organizations were given a gift late last year: several key provisions of the CARES Act were extended into the new year—and, in one case, increased. First, the universal charitable deduction has not only been extended but given an upgrade. The new deduction is $300 for single filers and $600 for married couples filing jointly. This incentive is available to taxpayers who take the standard deduction, and for cash gifts to qualified charities. It does not include gifts to supporting organizations or donor advised funds. Second, the act raised the cap on annual contributions to public charities. Typically, contributions to public charities are limited to a percentage of a taxpayer’s adjusted gross income. The CARES Act lifted the cap on annual contributions for those who itemize,
A portion of all Planned Gifts made to NOLS since the beginning of the campaign in 2016 were counted toward our goal. The percentage that was included depended on several variables, including the age of the donor at the time the gift was made. All planned gifts to NOLS support our endowment, ensuring NOLS’ stability for years to come. We are grateful for your gifts, planned and otherwise, and appreciate the security they help provide. No person or organization succeeds on their own, and we are grateful that these gifts show just some of the ways the NOLS community is stepping up in challenging times.
The CARES Act also raised the cap on annual gifts to public charities. Anne McGowan
increasing it from 60 percent to 100 percent of AGI for 2020 (and now also for 2021). Any excess contributions available can be carried over to the next five years. For corporations, the law raised the annual limit from 10 percent to 25 percent of taxable income.
NOLS | 284 Lincoln Street, Lander WY 82520 | 800.332.4280 Anne McGowan, Editor. To subscribe, contact: NOLS Development development@nols.edu | 307.335.2273. The Friends Newsletter is printed on 30%-PCW FSC-certified paper.
Learn more about NOLS’ Planned Giving options on our website at www.nols. edu/planned-giving, or call NOLS Development office at 800-332-4280. NOLS.EDU | 4