NEWS FROM THE DRESSAGE FOUNDATION
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 dressagefoundation.org/support/planned_giving.html or by contacting Jenny Johnson, TDF’s executive director, at (402) 434-8585 or firstname.lastname@example.org.
The Boomer Family, including (from left) Lowell, Gladys, John and Jim