All of us who donate our time to Bend-La Pine Schools have given a tremendous gift to our children and community. But did you know that anyone can leave a lasting gift for our public schools? There are many ways to leave a gift, but the most common is through a will.
For more information about these and other ways you can leave a lasting legacy for Bend-La Pine Schools, please contact the Education Foundation at 541-322-5493 or educfund@bend.k12.or.us. Some of the many different planned giving options are:
Life Income Gifts
Life income gifts allow you to receive an income as a result of making a charitable gift. Depending on the type of plan you choose, the income can be fixed or variable and can be for you or other beneficiaries you choose. For example, you might create a charitable remainder trust to pay income to you for life and contribute money, stock or other property to it. Once placed in the trust, the assets can be sold (avoiding capital gains tax) and the proceeds reinvested to produce a higher yield. Life income gifts entitle you to an immediate income tax deduction, which is based on the present value of your future gift to us.
Life Insurance
You can contribute a life insurance policy to the Education Foundation by naming us as either the owner of the policy or simply as the beneficiary. If you name us as owner and beneficiary, you will be entitled to an income tax deduction limited to the lower of the value of the policy or your cost basis in the contract. In addition, if you continue to pay premiums on a policy that we own, you can deduct the premium payments.
Real Estate
If you own property that is not subject to a mortgage and has appreciated in value, a charitable gift may be an attractive option. You can claim an income tax deduction based on the fair market value of the property, avoid all capital gains taxes and remove that asset from your taxable estate. Or, you can transfer your home or farm to the Education Foundation now and continue to use the property for the rest of your life. Due to the complexities involved, we encourage you to contact us to discuss any gift of real estate.
Wills/Bequests
The easiest way to leave a legacy for our children is to remember the Education Foundation in your will. You can name a specific amount or indicate a percentage of your estate to be directed to the Education Foundation.
When Making a Charitable Bequest to the Education Foundation:
Sample Language for Wills and Estate Plans
I bequeath to the School Foundation, Inc, DBA as the Education Foundation for Bend-La Pine Schools, an Oregon non-profit organization, with its principal offices located at 520 NW Wall Street, PO Box 6566, Bend, Oregon, 97708, the sum of $______ (or ____% of my residuary estate) to be used at the discretion of its governing board for the Education Foundation's ongoing work to enrich and strengthen our community by investing in the education of our children.
Please note that the sample language above should be written or adapted by legal counsel to fit your individual situation.
Additional Information for Your Attorney
Legal name: The School Foundation, Inc. DBA Education Foundation For Bend-La Pine Schools
Address: PO Box 6566, Bend, OR 97708
Phone: 541-322-5493
Federal Tax ID #: 93-1064935
The Education Foundation for Bend-La Pine Schools is a 501(c)(3) tax-exempt, not-for-profit organization