Planned Giving
Leave a Legacy to Tucker Maxon School
Planned giving simply means making a charitable gift that is part of your financial or estate plan. Gift planning provides tools to help you leave a legacy that speaks to your vision for your community, and is a forward-thinking choice for philanthropically-minded people of all ages and means.
Tucker Maxon School has been a tremendous resource in this community since 1947. We help all children reach their full potential in school and in life, and with your help, we hope we always will. With a planned gift, your legacy will help endure and safeguard the future of this institution for future generations.
Some people name Tucker Maxon School in their estate plan and never notify us — meaning we miss the opportunity to acknowledge our gratitude to them during their lifetime. If you include Tucker Maxon School in your estate plans, we hope you’ll share this information with us.
With documentation of your planned gift, you’ll receive recognition at the school, as well as invitations to special events for major donors and other VIPs.
In 2018, we began the Tucker Maxon Endowment Fund at the Oregon Community Foundation. The Endowment will provide the school with a stream of funds in perpetuity. When you donate to the Endowment, you donate forever. The Endowment Fund is one way to leave a legacy. For more information, contact Glen Gilbert, Executive Director, glen.gilbert@tuckermaxon.org or 503-235-6551
This is not meant to be tax advice. These deductions are for cash donations to qualified 501(c)(3) organizations, and exclude supporting organizations, donor-advised-funds, and certain private foundations. To see if a charity qualifies you can go to https://www.irs.gov/charities-and-nonprofits and click on “Tax Exempt Organization Search”. Please consult your tax advisor.
HOW TO GIVE
Tucker Maxon School is a permanent institution in our community, serving deaf, hard of hearing, and hearing students since 1947. You can honor Tucker Maxon in your estate planning in a variety of ways. Listed below are some of the most common arrangements.
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Charitable Bequests
Your intent to make a bequest to Tucker Maxon School can be made clear in your will or living trust using simple and clear language, upon consultation with your attorney. You can stipulate a gift of a specific dollar amount, a percentage of the value of your estate, or property such as stock.
Sample Bequest Language:
“I give, devise and bequeath to Tucker Maxon School, a non-profit organization (Tax ID #93-0391592) with a principal business address of 2860 SE Holgate Blvd, Portland, OR 97202, for its general purposes, all [or state the fraction or percentage] of the rest, residue, and remainder of my estate, both real and personal.”
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Retirement Plans
IRAs, 401(k)s, 403(b)s, Keoghs, and other retirement plan assets make up an increasingly large part of many estates. When left to your heirs, these assets can be subject to income, estate, and other transfer taxes. Naming Tucker Maxon School as a beneficiary of all or a percentage of your plan may reduce or eliminate these taxes.
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Give From Your IRA Today
If you are 70 ½ years of age or older, you can make a tax-free gift from your IRA today! This generous, tax-wise gift will help you make the most of your legacy while supporting Tucker Maxon School now.
- Life Insurance
In larger estates, retirement fund assets distributed to family members may be subject to double taxation, first through the donor’s estate tax, and then through the beneficiaries’ income tax. IRA accounts listing Tucker Maxon School as the beneficiary pass to Tucker Maxon School free of estate and income taxes. Not only can Tucker Maxon School be named as the beneficiary of your life insurance policy, but you can also transfer the policy irrevocably to Tucker Maxon School. You may be eligible for an income tax deduction for the policy’s cost basis or cash surrender value (whichever is less). Subsequent premium payments may qualify for a charitable deduction.
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Charitable Remainder Trusts (CRTs)
You may transfer assets to a charitable remainder trust that provides an annual specified distribution percentage to one or more beneficiaries for life, or a term of years. The remainder interest would go to support the Tucker Maxon Endowment Fund.
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Charitable Gift Annuities (CGAs)
In return for a donation of cash or other assets Tucker Maxon and the Oregon Community Fund pays you and/or someone designated by you a fixed payment for life. The remainder interest would go to support the Tucker Maxon Endowment Fund.
The Oregon Community Foundation manages Tucker Maxon School’s Charitable Remainder Trusts and Charitable Gift Annuities. You can contact them at www.oregoncf.org or giftplanning@oregoncf.org
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Memorial Gifts
Many individuals request that survivors send charitable gifts in lieu of flowers. You can request that your friends and loved ones send such memorial gifts to Tucker Maxon School. (Address: 2860 SE Holgate Blvd, Portland, OR 97202.) Donations are also accepted through the Tucker Maxon School website: https://www.tuckermaxon.org/contribute/donate/. Please indicate who is being honored, as well as who should be notified of the memorial gift.
