A Bequest From a Beloved Zoo Pioneer

In the 1960s, Ernie Greup chaired the Site Selection Committee that chose Randolph County as the setting for the future North Carolina Zoo. Later, as Vice Chairman of the N.C. Zoological Authority, Greup chaired the Advisory Board Nominations Committee, the Research Facility Liaison Committee, the Legislative Communication Committee and the Special Land Use Committee. He remained an active N.C. Zoological Park Council member throughout the rest of the century. In that role, he championed causes for elderly and physically challenged people visiting the Zoo.

In October, the Estate of Ernest W. and Jeanne S. Greup sent the majority of a $500,000 bequest to the N.C. Zoo Society. In appreciation for this gift, and for Greup's many years of service, the Society held a ceremony in his honor.

During the ceremony, staff memorialized Ernie Greup's devotion to the Zoo's disabled and elderly visitors by placing a plaque on the bridge leading into Africa. That bridge-which offers a level walk from the parking lot to the threshold of Africa's Wachovia Akiba Market-fulfilled a dream of Greup's. The bridge spans a small valley near the entrance and, consequently, prevents visitors from having to walk down and up a hill to enter or leave Africa.

The Greup bequest became part of the Lion's Pride Fund, which the Society treats like an endowment to support special needs of the North Carolina Zoo.

Ernie Greup worked with WTVD-TV in Durham. He joined that station in 1954. He was the station's first Program Manager and its Director of Public Affairs.

A charitable bequest is one or two sentences in your will or living trust that leave to North Carolina Zoo Society 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 give to North Carolina Zoo Society, a nonprofit corporation currently located at Asheboro, NC, or its successor thereto, ______________* [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 the N.C. Zoo Society 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 the N.C. Zoo Society 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 the N.C. Zoo Society 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 the N.C. Zoo Society where you agree to make a gift to the N.C. Zoo Society 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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