1. Planned Giving
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  3. The Summit on Race in America

The Summit on Race in America

"I speak tonight for the dignity of man and the destiny of democracy."

Summit panel

Bob Santelli, founding executive director of the GRAMMY Museum; Claudette Robinson, member of The Miracles; Duke Fakir, founding member of The Four Tops; and Mary Wilson founding member of The Supremes discuss how Motown forever changed American music, business, and perceptions of African-Americans.

President Lyndon Baines Johnson used those words in March 1965 to open his most resonant speech, his appeal to the nation to support voting rights as a sacred trust in his quest toward equal rights for all Americans. But as LBJ knew, the destiny of democracy is not preordained. It is in the hands of every generation of Americans with a charge to leave it stronger for the next. The salvation of history must be earned in our times.

Despite the strides made toward civil rights, racism in today's America continues to be a pressing issue. To that end, last April the LBJ Foundation took a substantive look at the racial divisions we face today at The Summit on Race in America, bringing together activists and thought leaders for conversations, performances, and presentations on the challenges we face on race today and possible solutions to heal the racial divide. The Summit, which was free and open to the public, brought together approximately 4,000 people during the three days of programming to discuss current race-related issues—including voting rights, immigration, movement building, economic empowerment, and the portrayal of race through the media.

Participants at The Summit included civil rights legends Andrew Young and Dolores Huerta; Madeleine Albright, former Secretary of State; Bryan Stevenson, founder and Executive Director of the Equal Justice Initiative; Valerie Jarrett, the longest serving advisor to President Obama; Brittany Packnett, co-host of Pod Save the People and Teach for America's Vice President of National Community Alliances; comedians George Lopez, Sasheer Zamata, Dulcé Sloan, and Aparna Nancherla; and musicians Wyclef Jean and Jimmy Jam. (A full list of participants and video of the programs can be found at lbjsummitonrace.org.)

In celebration of the 60th anniversary of Motown Records, The Summit concluded with a preview of the library's exhibit, Motown: The Sound of Young America, which will remain open through January 2020. The Motown legends who joined The Summit on Race in America included: Duke Fakir, founding member of the Four Tops; Claudette Robinson, member of the Miracles; and Mary Wilson, founding member of the Supremes.

"While no exploration of the complex issue of race can be definitive or complete," said LBJ Foundation President and CEO Mark K. Updegrove, "we know that in bringing together myriad voices representing perspectives across the racial divide, The Summit on Race in America promoted a deeper understanding of the challenges our country faces. In doing so, we came one step closer to strengthening our resolve for meaningful change and fostering greater unity among all Americans."

A charitable bequest is one or two sentences in your will or living trust that leave to the LBJ Foundation 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 the LBJ Foundation, a nonprofit corporation currently located at 2313 Red River Street, Austin, TX 78705, 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 LBJ Foundation 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 LBJ Foundation 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 LBJ Foundation 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 LBJ Foundation where you agree to make a gift to the LBJ Foundation 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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