Commander Charles R. Braley Jr. ’48 and Mrs. Braley: Charitable Gift Annuities Support Naval Academy

Commander Charles R. Braley Jr.Information Technology is an area that retired Commander Charles R. Braley Jr., SC, USN knows well. As he says, "I built my career in IT and saw the exciting future that it held."

After graduating from the United States Naval Academy, Commander Braley '48 received his MBA from Stanford University in 1956. Following a staff assignment in the 7th Fleet, he started his career in Electronic Data Processing (now IT) with two "leading edge" projects. He developed a prototype computer center, followed by assignment to a CNO project to provide EDP support fleet-wide for maintenance and inventory management. This involved acquisition of 65 computers and coordinating their installation.

After retirement, CDR Braley was director of information systems for a major corporation and participated in development of a family cellular telephone company until it was sold in 2006.

After the Class of 1948's gift supporting the initial IT major and learning about the Naval Academy Leadership Development Program, CDR Braley and his wife decided to continue giving charitable gift annuities for the Info Tech endowment and the Foundation's Annual Fund. "We were attracted to the life-income option of the charitable annuities," CDR Braley explains. "It is a great way to support the Naval Academy and continue to receive income."

Although he is now retired, CDR Braley and his wife, Mary Goode Braley, like to remain active. The couple has traveled extensively throughout Hawaii and Europe, along with annual visits to his hometown in Oregon. Married 64 years, they have three children, six grandchildren, and one great-grandchild.

"I regard my opportunity to serve in the United States Navy as a challenging experience and am pleased to have the opportunity to support the Naval Academy," he says. In giving back, the Braleys' gifts will benefit the IT program and future generations of Naval Academy leaders.


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A charitable bequest is one or two sentences in your will or living trust that leave to the United States Naval Academy 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 United States Naval Academy Foundation, a nonprofit corporation currently located at 274 Wood Road, Annapolis, Maryland 21402, 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 Naval Academy 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, 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 Naval Academy 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 Naval Academy 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 Naval Academy Foundation where you agree to make a gift to the Naval Academy 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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