Inspire Generations

Steve Atwell was a vibrant presence at Discovery World, where he spent more than 14 years as the Director of Development. Inspired by Steve’s commitment to Discovery World and to Milwaukee youth, the Steve Atwell Memorial Youth Scholarship Endowment was created.

When fully funded, this endowment will ensure that young people in our community can continue in perpetuity to find enrichment and inspiration at Discovery World regardless of their financial status. The investment earnings from this endowment will give unrestricted and personalized access of our STEM programs, camps, research, labs, staff, and collaborative partners to our area’s youth.

Your compassionate gift, pledge, or estate gift commitment to our endowment will create a perpetual legacy of annual support for future generations of Wisconsin kids, families, and schools, such as:

• $1,500 provides $75 annually, the cost of a day’s admission for a family each year
• $3,300 provides $165 annually, the cost of one free Family Plus membership each year
• $7,100 provides $355 annually, the cost of one summer camp scholarship every summer
• $20,000 provides $1,000 annually, the cost of multiple annual field trips with transportation and an educational program for one classroom
• $100,000 provides $5,000 annually, the cost of admission so that over 300 local girls can attend our annual Girls & STEM event

Including a charitable bequest in your will is a simple way to make a lasting gift to Discovery World and your community. You can make a bequest to Discovery World by adding to an existing will or drafting a new one.

Typically, a bequest gift is a stated dollar amount, a percentage of your estate, or the remainder after distributions to other beneficiaries. In doing so you leave a legacy to Discovery World and your community, yet preserve and enjoy assets you might need during your lifetime. Plus, the assets distributed to Discovery World are exempt from estate tax.

To leave a gift to Discovery World in your will, simply share this sentence with your attorney or financial planner:

“I bequeath $__________ or ___________% of my estate to Discovery World LTD, EIN: 39-1691578, located at 500 North Harbor Drive, Milwaukee, WI 53202.”

Giving through life insurance is one of the simplest ways to make a significant contribution to Discovery World and establish your legacy of giving. There are two approaches: You can designate Discovery World as the primary or secondary beneficiary of either 100% or some percentage of the proceeds from the policy, or you can transfer to Discovery World ownership of the policy – either paid in full or for which you continue making premium payments.

The transfer of the policy is a present gift for which a charitable tax deduction may be taken, and your continued payment of premiums is each considered charitable contributions, deductible to the full extent of the law.

Shares of appreciated publicly traded stock are an effective way to support Discovery World and avoid taxation on the gain. We can receive stock gifts directly through your brokerage account; you receive a charitable income tax deduction, usually equivalent to fair market value as determined under IRS guidelines. We will sell the stock and apply the net proceeds toward our mission.

Discovery World will also consider gifts of closely-held business interests such as corporations, limited liability companies, and limited partnerships if an acceptable means of converting the stock into liquid assets can be an anticipated within a reasonable time. This may occur through redemption agreements, liquidation, or asset transfers. These are complex transactions, so consultation with your tax advisor or planning professional is necessary.

Retirement plan assets (those in qualified plans and IRAs) are ideal for charitable giving purposes because these assets are often heavily taxed when passed to non-spouse beneficiaries. To make a future gift of retirement plan assets simply requires a designation of Discovery World as the beneficiary of the plan. Making a present gift of retirement account assets during your lifetime has been permitted under recent law for certain tax years; check with your tax advisor before making a gift of retirement plan assets.

Giving through a Charitable Remainder Trust allows you to receive income for the rest of your life or a specified term of years, knowing that whatever remains will benefit Discovery World. You transfer assets into a trust and receive an immediate charitable deduction. The trust distributes regular income payments to you or to designated family members. You may choose to receive a fixed payment or one that changes with the value of the trust assets; payments can begin immediately, or you can defer them to increase your charitable income tax deduction.

The amount of the payments and the amount of the charitable tax deduction depends on the age of the recipient and the applicable federal rate for determining the present value of an interest for a term of years. Upon the beneficiary’s death or after a defined period of years, the remaining assets in the trust will transfer to Discovery World. Consultation with your tax advisor or planning professional will be required.

A Charitable Lead Trust permits you to remove assets from your estate and benefit Discovery World during the trust’s term. Assets selected by you are transferred into a trust, which pays Discovery World an annual amount to accomplish its mission.

During its term, the trust can be managed by experienced professionals, which may help your trust investments grow over time. When the trust terminates, either upon your death or after a specified number of years, its final assets are transferred to the family members you designate. Any growth in the trust passes to recipients, often with significant transfer-tax savings.

Charitable Lead Trusts may also be created by will as part of your testamentary planning. Charitable Lead Trusts offer financial benefits by sheltering investment earnings from income tax, too. However, at the time your trust is established, you may owe gift tax on the present value of your gift to the final beneficiary. Charitable Lead Trusts can be arranged to make annual distributions of a fixed percentage of the trust assets or distributions of a fixed dollar amount.