Through a bequest, you can establish an enduring commitment to the Homer community and continue the pattern of philanthropy established during your lifetime. A bequest can help to ensure the things you supported and cared about can continue. Those who notify us of bequests are invited to join our Legacy Society and will receive recognition, now and in the future, that will in turn encourage others to consider bequests as both a planned giving option and a way of giving back to their communities. A bequest can easily be made by naming the Homer Foundation as beneficiary in your estate planning documents.

An outright bequest may be unrestricted, may add to an existing fund of the Foundation or may establish a new fund. If a donor already has a will in place, a simple codicil can be written. The following is sample language only. We encourage you to contact an estate planning professional or staff at the Homer Foundation to determine exactly which language is most appropriate to fulfill your goals for your charitable legacy.

Sample Language

Below is sample language which can be inserted into your estate planning documents.

Unrestricted Bequest ( no minimum)

I bequeath ______________________ (describe dollar amount, property to be given, or proportion of your residuary estate) to the Homer Foundation (EIN #92-0139183), a tax exempt organization under IRC Section 501 (c)(3), for its general charitable purposes.

Bequest to an Existing Fund ( no minimum)

I bequeath ______________________ (describe dollar amount, property to be given, or proportion of your residuary estate) to the Homer Foundation (EIN #92-0139183), a tax exempt organization under IRC Section 501 (c)(3), to be added to the __________________ Fund, a component fund of the Homer Foundation, and I direct that this bequest become part of this Fund.

Bequest to Create a Field of Interest Fund ( minimum $10,000)

I bequeath ______________________ (describe dollar amount, property to be given, or proportion of your residuary estate) to the Homer Foundation (EIN #92-0139183), a tax exempt organization under IRC Section 501 (c)(3), to establish the _____________________ Fund, a component fund from which grants are to be made preferably for the following purpose ________________________ (Examples, care of the hungry and/or homeless, programs aiding children, protection of the environment, arts programs, etc.).

Bequest to Create a Donor Advised Fund ( minimum $10,000)

I bequeath ______________________ (describe dollar amount, property to be given, or proportion of your residuary estate) to the Homer Foundation (EIN #92-0139183), a tax exempt organization under IRC Section 501 (c)(3), to establish the _____________________ Fund, a component fund from which grants are to be made from time to time. I direct that a Donor Advisor ______________________ be appointed to make recommendations concerning grants from the Fund, provided the proposed grants are in keeping with the Policy established by the Foundation. I recognize that these recommendations may be accepted or rejected, in whole or in part, by the governing board in its sole discretion.

Bequest to Create a Scholarship Fund ( minimum $10,000)

I bequeath ______________________ (describe dollar amount, property to be given, or proportion of your residuary estate) to the Homer Foundation (EIN #92-0139183), a tax exempt organization under IRC Section 501 (c)(3), to establish the _____________________ Scholarship Fund, a component fund from which scholarships are to be made annually. I request that the following criteria be considered when awarding scholarships: ______________________ (Qualifications of applicants, which may include: technical training, field of study, attendance at a specific university, school or program, GPA, extra-curricular activities, graduation from a specific school, etc.).

Life Insurance

Another way to make a generous and lasting impact in the community is through your life insurance policy. You can make a gift of your paid-up life insurance policy by making the Homer Foundation as the owner and beneficiary of your policy. To gift your life insurance, simply contact your insurer and ask for a change of beneficiary/ownership form. Then designate the Homer Foundation as the new owner/beneficiary.

 

More Questions?

If you have any questions about bequests or planned giving to the Homer Foundation, please contact us at (907) 235-0541, email us at info@homerfoundation.org, or stop by the office at 3733 Ben Walters Lane, suite 4 (the lower level of the Kachemak Bay Title building), Homer, Alaska.