CREATE A LEGACY

Oaks of Righteousness Legacy

Legacy giving creates an opportunity to make an enduring impact on First Lutheran Classical School. Planned giving can range from a simple one-time monetary donation to the designation of a future gift using a will, retirement account, life insurance policy, or other assets. Some may wish to set up a scholarship or endowment fund or help with the funding of a specific expense.

Gifts of securities, such as stocks and mutual funds, may entitle the donor to an income tax charitable deduction equal to their full market value and may avoid taxation of capital gains.

Annuities can be attractive to both the school and to donors because of interest paid and monthly, quarterly, or annual designated contributions. This allows the school to include guaranteed income in their budget planning. 

Donations can be designated as either “restricted” or “unrestricted.” Restricted funds (by IRS ruling) must be used for their designated purpose, whereas unrestricted donations and “in kind” gifts may be used for routine operations or as the school sees fit. 

FLCS is a non-profit organization. All donations of cash, stocks, bonds, real property, equipment, or supplies may be tax deductible on your federal and state tax returns. In some states, such as Montana, donations to 501(c)(3) organizations may even generate a tax credit to the donor. 

In addition, Congress passed legislation several years ago that allows individuals age 70 ½ and older to donate a tax-free charitable gift up to $100,000 annually from their IRA account. Please consult with your tax accountant, financial advisor, insurance agent, or attorney to see how you could benefit from planned giving to FLCS. 

Contact us to receive information regarding sample language for use in wills, trusts, or letters announcing a restricted or unrestricted bequest (i.e., gift). The Tax Identification Number (TIN) of FLCS should be included in your will, trust, or letter of designation. 

“They will be called oaks of righteousness, a planting of the Lord for the display of his splendor” (Isaiah 61:3).