Caxy Legacy Challenge
Deferred Giving, Immediate Impact
$200,000 Caxy Legacy Challenge supports LFA today and tomorrow
The Lake Forest Academy Caxy Legacy Challenge (CLC) empowers estate gift donors to see both immediate and long-term impact when they inform LFA of a new or previously undocumented deferred gift commitment. This creative program is fueled by Ferry Hall alumna Sheri Kersch Schultz ’72 of Seattle and LFA alumnus David Gupta ’81 of Chicago.
With documentation of a new or existing estate gift, CLC donors gain access to funds from a challenge pool of $200,000 made possible by Kersch Schultz and Gupta. The estate gift donor then directs the unlocked challenge pool dollars—up to $10,000 per donor—to an existing endowment fund of her/his choice.
“Sheri's and David's latest commitment to the Academy is an incentive for Ferry Hall alumnae, LFA alumni, parents of alumni, current parents and friends to plan for the future,” said Head of School Chris Tennyson. “Their generosity opens the door to bonus philanthropy that benefits LFA today. This is truly an appreciated partnership of a Ferry Hall alumna and LFA alumnus.”
A strong endowment provides security in the face of unforeseen circumstances—such as those experienced during the COVID-19 pandemic. The Academy’s endowment continues to grow through estate gifts, endowed fund commitments and prudent investment management, though a school of LFA’s size, stature, age, operational breadth and program expanse needs a substantially larger endowment to remain competitive with other independent schools. Guided by national independent school standards, LFA seeks to grow its endowment to three times the operating budget (for fiscal year 2022-23, LFA’s operating budget is $26.29 million). This will position the school well for the future, allowing it to offer deserving students access to scholarships while attracting and retaining first-rate faculty. The market value of LFA’s endowment has hovered near $60 million in recent months.
What are the details of the Caxy Legacy Challenge?
CLC participants are afforded the opportunity to simultaneously create a perpetual philanthropic legacy at LFA while also seeing immediate impact from their commitment.
Details include:
- New estate gift commitments or existing commitments not previously documented with the school will be eligible for the Caxy Legacy Challenge.
- Eligible commitments include gifts from wills, living trusts, charitable trusts and beneficiary designations. Other estate gifts may be considered on a case-by-case basis.
- Eligible estate gift commitments of $50,000 or more will unlock 10% of the gift’s face value from a challenge pool—to a maximum of $10,000.
- Challenge pool funds will be directed to an existing endowment fund of the donor’s choice.
- Estate gift commitments must be documented via an LFA Bequest Intention Notification form and/or a copy of the page of the donor’s will, living trust, charitable trust or beneficiary designation pertaining to the gift benefiting LFA.
- All CLC participants will gain membership in the Richards & Tremain Society—a recognition organization for members of the LFA/Ferry Hall community who have included the school in their estate plans.
For more information about the Caxy Legacy Challenge or to inform the Academy of your estate commitment, please contact a member of LFA's Advancement team:
Ruth Keyso: rkeyso@lfanet.org
Christine Ryder: cryder@lfanet.org
Garry Sloan: gsloan@lfanet.org