The message you send with a Legacy Gift will be heard
for generations to come, furthering the Foundations
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 Foundations
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
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
Foundations 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
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. Theyll 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.