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 541-355-5660 or [email protected] 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.
You can contribute a life insurance policy to the Education Foundation for Bend-La Pine Schools 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.
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 for Bend-La Pine Schools in your will. You can name a specific amount or indicate a percentage of your estate to be directed to the Foundation.
This concept originated thanks to Kevin Freihoefer at Wells Fargo Bank. A donation in support of a Spotlight Award allows a donor to “spotlight” a retired educator or philanthropist with a focus on a specific subject, school, program, or classroom project. Spotlight Award’s must be in-keeping with Education Foundation mission. Depending on the amount of the gift, they may be one time awards (ranging from $500 – $2,500) or recurring in perpetuity through the establishment of an endowment ($25,000 or more). Donated funds, less a nominal administration fee, will be awarded to educators in the form of Classroom Grants. The availability of the Spotlight Award and the criteria will be announced to schools during the annual application process. Applicant(s) who best meet the intent of the gift will be the recipient of the grant. The benefactor/donor will receive recognition on our website, through a press release, and will be invited to attend the annual Donor Reception in the spring. If the Spotlight Awards is made on behalf of a retired educator, the gift will also be announced at the district’s yearly Retired Educators Luncheon. See below for examples of past one-time gifts and recurring awards.
Wallace Wilson Spotlight Award (Recurring)
The Wallace Wilson Spotlight Award was made possible through a $50,000 endowment fund launched by Mrs. Faith Wilson to honor Mr. Wilson’s life-long commitment to teaching and promoting the study of science, especially earth sciences. One grant of approximately $2,000 will be awarded each year to a grant applicant at Pilot Butte Middle School to support learning in this subject area.