Make a Planned Gift
List Us in Your Will:
Planned giving, like including the Outdoor Lab Foundation in your will, allows you to decide how to distribute your assets after you pass away. Listing us in your estate is a fantastic way to ensure future generations of Jeffco students have access to Outdoor Lab. We recommend that you consult with your attorney or tax advisor for the various tax benefits and restrictions that may apply to your specific situation. Staff at the Foundation are available to you and your advisors to answer questions or help arrange a planned gift that meets your needs.
Name Us as a Beneficiary of Your Retirement Plan:
One easy way for you to support Outdoor Lab is to name the Outdoor Lab Foundation a Beneficiary of Your Retirement Plan
You can take care of Outdoor Lab and your heirs by making the Outdoor Lab Foundation a full or partial beneficiary of your IRA, 401(k) or other qualified retirement plan. The taxes applied to your retirement plan assets may be different than you imagined—in fact, using retirement assets to make a donation and leaving other assets to your heirs often enables you to give more to your heirs.
How It Works:
Your financial advisor and Outdoor Lab Foundation’s staff can help you determine whether income from a gift plan or withdrawals from your retirement account would most benefit your heirs.
Here's the Process:
You name Outdoor Lab Foundation as the beneficiary of a qualifying retirement plan through a beneficiary designation form, ensuring assets will not be included in your taxable estate. An extra step may be required to designate a 401(k).
After your lifetime, the remainder of your plan passes to the Foundation tax-free and to any other named heirs.
What is a Beneficiary Designation Form?
Contact your retirement plan manager for this document or contact the Outdoor Lab Foundation for support in obtaining it for you. A designation of beneficiary form outlines your desire to have the funds due upon your death paid out in a particular way – to heirs or charities. Your original designation remains in force whether it still reflects your wishes or not, until you submit another form to cancel prior designations or to designate a new beneficiary.
Benefits for You:
- You may be able to pass assets without paying the remainder left in your retirement account. Since the Foundation is a non-profit organization, we won't pay income tax on the distribution, nor will the gift be subject to estate tax. The entire amount comes to us, and your heirs will benefit from a reduced estate tax burden.
- Continue to take withdrawals during your lifetime.
- Change the beneficiary if your circumstances change.
- Ensure the transformational experiences of Outdoor Lab carry on.
