The message you send with a Legacy Gift will be heard for generations to come, furthering the Foundation’s mission of “ awarding grants and scholarships to promote the heritage and culture of Norway, and to provide assistance to our members, lodges and their communities.”

How do I start?
There are a variety of ways to plan a future gift for the Sons of Norway Foundation. Some include Gift by Will, Revocable Trust or Beneficiary Designation, Major Memorial Gifts, Creating a scholarship, Gifts by Charitable Trust, Gifts of Life Insurance, Appreciated Stock, and Real Estate. Our staff is happy to work with you and your legal and financial advisors to help you accomplish your planned giving goals.

May I designate my gift to a specific fund?
Yes. You may also establish a fund or scholarship. Currently you may designate your gift to any of the following sources, The Humanitarian Fund, The Sons of Norway, Heritage and Culture Fund, The King Olav V Norwegian-American Heritage Fund and the General Fund. To designate your gift for a special purpose, please talk with the Director of Sons of Norway Foundation.

Gifts by Will, Revocable Trust or Beneficiary Designation
A testamentary bequest may be designated for general support, permanent scholarship, or for another purpose. Many friends prefer that their bequest be used to meet the Foundation’s greatest needs at the time the gift is realized. Some individuals designate the Foundation as the primary beneficiary of their estate or name the Sons of Norway Foundation as a contingent beneficiary in the event that a loved one predeceases them. Others designate the Foundation as the beneficiary of a specific bequest from the estate.

Giving Life Insurance
By making Sons of Norway Foundation the owner and irrevocable beneficiary of an existing policy, you may take an immediate federal income tax deduction for approximately the cash value of the policy. The Foundation will immediately receive the dividends from the policy and will ultimately receive the insurance proceeds as well.

Another option is to purchase a new policy and name S/N Foundation as the owner and irrevocable beneficiary. You receive a charitable contribution deduction for all premium payments, and you can make a substantial contribution that otherwise may not have been possible. Speak with your Sons of Norway Field Agent who has information that may assist you and always consult with your tax advisor regarding the availability of the tax deductions.

Gifts by Charitable Trust
A gift of cash, stock, or other property to Sons of Norway Foundation can provide a guaranteed lifetime income to you, your spouse, and if you wish, other beneficiaries. The trust may be set up to provide immediate income or can be invested to grow until a future date. Once the term of the annuity is complete, the remaining assets are added to the Sons of Norway Foundation fund of your choice to help sustain the Foundation’s ongoing mission.

A Charitable Trust may also be established to provide payments to the Foundation for a term of years. After the completion of the term, the trust principal goes to your children, grandchildren, or others free of, or at greatly reduced, federal gift and estate tax. Please note that a generation skipping tax [GST] is imposed on large transfers to grandchildren and others who are more than one generation younger than you.

Gifts of Real Estate
If you own a home or other real estate that has appreciated in value and you would like to give a gift of substance to the Sons of Norway Foundation, consider a life estate gift. This allows you to keep using the property, possibly get a current income-tax deduction, and remove all or part of the property value from your taxable estate. You may also consider outright gifts of real estate without the reservation of a life interest.

Gifts of Appreciated Stock
Gifts of appreciated stock may be placed in any of our Sons of Norway Foundation funds. Your gift qualifies for a tax deduction on the full market value of your stock; plus, you avoid capital gains tax that would otherwise arise from the sale of these stocks.

How to get started
To help you begin your look into charitable giving, consult your financial planner and an attorney who specializes in estate planning. They’ll help you determine what gift techniques are best for you. The impact you may have for the Sons of Norway Foundation may be much greater than you think. Feel free to contact the Director of the Sons of Norway Foundation to help you get started.