A coeducational day school serving students JK-12

Katherine Selz Mayer

Planned Giving

Katherine Mayer

Katherine Selz Mayer joined Girls' Latin School in eighth grade. "I remember all of my teachers' names and what they looked like," Mrs. Mayer once reflected. "Miss Mabel Slade Vickery was Headmistress, Miss Bates taught Latin, Miss Hood English, Miss Jarrett mathematics, and Miss Porter physical education," said Mrs. Mayer, who was an avid athlete, playing field hockey and basketball at Latin and was an accomplished golfer. "The education provided by the fine faculty carried over into my college years. Miss Hood was as thorough and accomplished as any English professor that I subsequently had at Vassar College."

Mrs. Mayer's relationship with Latin School extended far past her graduation in 1927. She was the mother of Frank (Denny) Dewey Mayer, Jr. '51, Barbara Mayer Marks '54, and Susan Mayer Wood '58; grandmother of Katherine Wood Baldwin '83 and Elizabeth Wood-Hull '85; and great-grandmother of current Lower School students Robert, Henry, Isaiah (Ike), and Freddie Baldwin.

Throughout her lifetime, Katherine Selz Mayer was an avid supporter of the Latin School. She served as a member of its Board of Trustees from 1956-1961 and as honorary chair of the 1995 Campaign for Latin. Mrs. Mayer continued to attend Latin School events her entire life, including an alumni event less than one month before her death at age 97.

The Selz family has had a long-standing commitment to scholarship and education. In 1903, Mrs. Mayer's grandfather, Morris Selz, created the one of the first scholarships at the University of Chicago that continues to be awarded to the woman with the best grade point average at the end of her freshman year. While in high school, Mrs. Mayer was active in the Friendly Relations Club, which gave financial aid to foreign students who were studying in Chicago. In 1991, Mrs. Mayer and her sisters, Margaret (Maggie) Block '30, Eleanor (Ellie) Shoenberg '34, and Barbara Lebus '36, created the Mr. and Mrs. Abraham K. Selz Endowed Scholarship Fund in memory of their parents.

Mrs. Mayer established a gift annuity at Latin with the hope that others would follow her example. Gift annuities provide a steady source of life-income as well as significant tax benefits. Mrs. Mayer described gift annuities as "an excellent vehicle for giving painlessly."

For more information on gift annuities, please contact Anne Hobbs at 312-582-6042.

We are indeed grateful to Mrs. Mayer and to her family for their enduring commitment to the Latin School of Chicago.

A charitable bequest is one or two sentences in your will or living trust that leave to Latin School 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 Latin School of Chicago [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 an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to Latin School or other charities. You cannot direct the gifts.

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.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. 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 Latin School as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. 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 Latin School 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 Latin School where you agree to make a gift to Latin School 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.
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