by John Mulder, President

Several weeks ago, Jim Street, a generous giver and life-long Kingdom builder, went home to be with the Lord. During their lives, Jim and his wife, Jan, gave more than a quarter of a million dollars to support Christian values in education through their family Donor Advised Fund in partnership with WaterStone. As an enduring legacy, personal property, as well as business interests including partnerships, Limited Liability Companies, and a Subchapter S corporation, were left in their entirety to support the fulfillment of their vision for Christian education.

<img src="{filedir_1}Benefit-Wise-Planning.jpg" width="325" height="217" class="floatright" />By means of a series of plans developed during their lives and business structures recommended by their advisors and WaterStone, over $1 million has been saved in taxes. In addition, quick post estate action on the part of WaterStone and key professional advisors, led to an additional $1 million in tax savings.

Following the Streets’ intent, the business interests remain operational through a special trust created by WaterStone to maximize long term value and impact.

WaterStone is now working with the family’s business associates to develop plans for additional product lines as new business contracts are being negotiated. Sustained cash flow will provide for continuation and potential expansion of the charitable activity. In addition, strategies regarding other estate assets have been crafted with a long-term approach in mind.

The funds which otherwise would have gone for taxes and the additional cash flow from new business opportunities will be redeployed to finance Christian values in educational programs and scholarships. Based on the couple’s long-term relationship with WaterStone and a well-crafted purpose statement, a significant history of giving has taken shape. What began as a ripple in a small pond in the mid-1990s has become a giving stream that will be measured in the millions and will impact hundreds, perhaps thousands, punctuating a lifetime of generosity for His honor and His glory.

Effective planning, wise advisors, and WaterStone’s abilities to deal with complex assets with creative solutions, have assisted this family in expanding their legacy. The Streets’ passion will ripple through Christian education both in the donors’ home state and other national institutions for a long time to come.

For a print version of the entire fall 2011 Ripple Effect newsletter, <a href="{filedir_1}RippleEffect_Newsletter_2011.pdf">download the pdf</a>.