Gifts From Your Estate
The next time you update your estate planning, why not consider leaving 1% of your estate to the Foundation General Endowment Fund? It’s a very simple addition to your estate planning documents and your gift will ensure that the osteopathic profession in the Northwest will have the support from the Foundation well beyond your lifetime! Just provide the following language to your estate planning professionals:
“I give to Northwest Osteopathic Medical Foundation (93-0882138), whose current mailing address is 273 N. Grant St., Canby, OR 97013, one percent (1%) of my residual estate to be placed in its General Endowment Fund and held in perpetuity. The return on this endowment is to be used as the Board of Directors of Northwest Osteopathic Medical Foundation shall determine.”
Gifts of Life Insurance
There are several ways to use life insurance as a way to provide a substantial legacy to the Foundation. (LINK here for more information.)
- Charitable Giving Riders on Life Insurance – added to existing large insurance policies naming a charitable organization as an additional beneficiary. *
- Policy Donations – By donating existing policies, donor’s may benefit from reduced estate taxes and income taxes. Charitable organizations become the beneficiary. *
- Naming a Charity as Beneficiary – a simple way to donate but has limited tax benefits.*
- Gifting Policy Dividends – Take your life insurance policy dividends and donate them as cash.*
Each of these methods has different income and estate tax considerations and your specific situation will determine what legacy gift would be best for you. Consult with your insurance agent and tax advisor.
Gift Acceptance, Investment and Spending Policies of the Foundation are available for review HERE.