Ed Ferry '59: Pure gold

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What is it like to stand on the gold medal podium at the Olympics? Ed Ferry '59 can tell you. Just five years after graduating from Lakeside School, Ferry and his Stanford University crew coach Conn Findlay won a gold medal in coxed pairs at the 1964 Summer Olympics in Tokyo.

"After I had rowed for a year, Conn asked me to row in a pair with him. He had already won medals in two previous Olympics, one with Dan Ayrault, future Lakeside head, as his partner. It was a young athlete's dream. We rowed together for four years and I committed myself to train my absolute hardest. I knew we could not guarantee a win, even working as hard as we did, so I focused on trying my very best."

Ferry is a member of the Founders Circle, a group of dedicated donors who have provided for Lakeside in their estate plans. His specific bequest to the school is his gold medal. "I valued the friendships and sports I experienced at Lakeside. I was not a very good student academically and got into a lot of trouble. Three teachers held out hope for me-coach Don Anderson mentored me; Fred Bleakney befriended me and taught me English, philosophy, and the joy of learning; and Headmaster Dexter Strong stood behind me and gave me a second chance."

At Lakeside, Ferry was successful at football, basketball, and track. With Fritz Cantonwine '59, he was co-captain of the football team that went undefeated for three years. "Athletics were very important to me because my grades were mediocre and I wanted to be good at something." At that time, Lakeside didn't offer rowing as a sport, so it wasn't until he got to Stanford that Ferry began to row. He went out for football first, but quit after a week, and went out for crew the same day. This decision shaped his life.

"Because of the deep Seattle tradition of rowing due to legendary Pocock boat builders and excellence of the University of Washington crew teams, I knew and respected the sport before I tried it. I learned the pursuit of excellence, physical and mental discipline, and what is possible if you give your all to an endeavor. I was self-employed for my entire career because self-starting came naturally, honed by the discipline of crew. Another result of the sport was learning to live in the present. If you miss a stroke, you can't stop and dwell on it. One must live and be in the present rather than the past or future. This is a lesson I have carried throughout my life."

During his four years at Stanford Ferry participated in the Navy's Reserve Officers Training Program (ROTC), and after graduation served in active duty for two years. While on active duty, Ferry continued to focus on rowing. He won Olympic gold while serving in the Navy. Following his years of service, he earned an MBA from the University of Pennsylvania's Wharton School of Business.

In the early 1970s, Ferry spent two and a half years living in a Volkswagen camper as he toured Europe, India, and Africa before settling in the Bay Area. His travels prompted him to start Tent 'n' Trek, which took 34 high school students each year to eight different countries on a six-week camping adventure. The trips had both cultural and athletic components, and most years, there were a few Lakeside students among the participants. After closing Tent 'n' Trek in 1986, Ferry began building high-end speculative homes in Marin County. He and his wife Brenda live on Mount Tamalpais in a home that he built.

Ferry is also committed to giving back through community service. The activities that have been most meaningful to him include delivering groceries from the Marin County Food Bank to people confined to their homes, and tutoring high school students to help them become the first in their families to attend college.

When asked why he decided to include Lakeside in his estate plan, Ferry said, "My time at Lakeside, especially running football wind sprints, laid the foundation for my success in life. For that I am grateful."

A charitable bequest is one or two sentences in your will or living trust that leave to Lakeside 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 give to Lakeside School, a nonprofit corporation currently located at 14050 1st Ave NE, Seattle, WA 98125, 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 Lakeside 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 Lakeside 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 Lakeside 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 Lakeside where you agree to make a gift to Lakeside 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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