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The Maine Way the Strauss Family Gives Back

Ted and Janice Strauss

Ted and Janice Strauss have planned a gift through their estate to fund a scholarship for Bowdoin College and Purdue University students.

Ted '65 and Janice Strauss have a strong conviction that there is probably no better use of money than providing an excellent educational opportunity for someone who otherwise would not be able to afford it.

Determined to give back, Ted and Janice have an estate plan that splits their assets in two, both halves benefiting higher education. Half of their estate will benefit Purdue University, Janice's alma mater; the other half will be creating opportunities for students here at Bowdoin College.

Realizing a Need
Janice and Ted were pleased that Bowdoin continues to select a significant number of applicants from Maine. Their funds will directly benefit students from Maine in need of financial assistance.

The Strausses' assets will fund the Janice Filipowicz Strauss and William Theodore Strauss III Memorial Scholarship.

Personal Philosophy
In their daily lives, Janice and Ted believe in the power of investment.

"An endowed scholarship is truly the gift that keeps on giving. Your gift becomes part of Bowdoin's endowment and the income from it will continue to aid future students not just for a year or two, but indefinitely," Ted says.

Meet Our Donors
Janice and Ted live in a saltbox house that dates back to 1734 in South Salem, New York. They restored the home, which is now in the National Register of Historic Places.

They are avid sailors who enjoy sailing Eagle's Wing, their classic Sabre 34 sloop, from the Saugatuck Harbor Yacht Club in Westport, Connecticut.

Janice founded her own marketing and marketing research practice after working for General Foods and Richardson Vicks. She later opened Janice F. Strauss American Antiques, an antique dealership focusing on investment quality American furniture.

After working as a programmer, instructor, systems engineer and senior manager with International Business Machines Corp. for 30 years, Ted founded Ted Strauss Websites LLC, and has designed over 450 websites.

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A charitable bequest is one or two sentences in your will or living trust that leave to Bowdoin College 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, [name], of [city, state, ZIP], give, devise and bequeath to Bowdoin College [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 a charitable account sponsored by a public charity that donors use to support their philanthropy.

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.

A lead trust holds appreciating assets for a term of years (or for your lifetime), and makes quarterly or annual payments to Bowdoin College. The College benefits from the stream of reliable, steady gifts from the lead trust, and you're able to witness the impact of your gifts during your lifetime. At the end of the trust's term, all remaining trust assets are distributed to your designated beneficiaries with greatly reduced (in some cases zeroing out) gift and estate tax, regardless of how much the trust has grown.

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 Bowdoin as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. 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 Bowdoin 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 Bowdoin where you agree to make a gift to Bowdoin 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.

With a retained life estate, the donor(s) irrevocably deeds a personal residence or farm to the College, but retains the right to live in it for the rest of his/her life, a term of years, or a combination of the two. The term is most commonly measured by the life of the donor or of the donor and the donor’s spouse.

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