Dressage Today - - Arena News -

W hen Low­ell Boomer founded The Dres­sage Foun­da­tion (TDF) in 1989, he knew that fi­nan­cial help would be needed by eques­tri­ans and dres­sage clubs at that time and also in the fu­ture. Know­ing that, he put gifts in place to ben­e­fit TDF’s grant re­cip­i­ents then and now.

In 2001, Boomer cre­ated two char­i­ta­ble re­main­der uni­trusts, funded with his com­pany stock and val­ued at $200,000 each. Through the uni­trusts, he avoided cap­i­tal-gains taxes, re­ceived a char­i­ta­ble tax de­duc­tion at that time and re­ceived life­time in­come from the uni­trusts while the as­sets grew tax-free in­side the uni­trusts.

When Boomer passed away in 2011 at the age of 100, pay­ment of the an­nual in­come from the uni­trusts trans­ferred to his sons, John and Jim, and their spouses. With the re­cent pass­ing of Jim and his wife, Lois, the re­main­ing as­sets in one of the uni­trusts, to­tal­ing over $328,000, has been gifted to TDF.

When he es­tab­lished the uni­trusts, Boomer said, “Through the use of th­ese two char­i­ta­ble re­main­der uni­trusts, I have been able to ex­tend the value of as­sets built over my life­time to pro­vide in­come for me in my se­nior years, to pro­vide in­come for my two sons and their fam­i­lies dur­ing their se­nior years and then to help the eques­trian sport in which my fam­ily and I have spent so many en­rich­ing, en­joy­able years.”

The fore­sight that Boomer had for the needs of his beloved sport has now strength­ened the fu­ture of TDF by en­abling en­able in­creased fi­nan­cial support for U.S. dres­sage even fur­ther into the fu­ture.

“The Boomer fam­ily has given so much to our sport in so many ways,” said Maryal Bar­nett, chair of TDF’s board of di­rec­tors. “How can we ever thank them enough?”

More in­for­ma­tion about Boomer's ex­tra­or­di­nary gift to The Dres­sage Foun­da­tion, as well as de­tails about char­i­ta­ble re­main­der uni­trusts, can be found at dres­sage­foun­da­­giv­ing.html or by con­tact­ing Jenny John­son, TDF’s ex­ec­u­tive di­rec­tor, at (402) 434-8585 or jenny@dres­sage­foun­da­

The Boomer Fam­ily, in­clud­ing (from left) Low­ell, Gla­dys, John and Jim

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.