Craft your legacy with a planned gift to support North House
Our long-term strength relies on the generous support of donors who want to make North House part of their life’s story by joining the legacy circle.
You can join the Legacy Circle by making a bequest through an estate plan, naming North House as the beneficiary on a life insurance plan, IRA, or retirement plan, creating a gift annuity or charitable trust, or making a gift of real estate. All are planned giving options that make a tremendous difference for the sustainability of the folk school.
When you take this step, you are joining with dozens of other supporters who have already made this commitment, including many instructors, staff, and board members - who believe that the work that happens every day here at North House has shaped their lives, and want to ensure that the programs continue inspiring the hands, the heart, and the mind for generations to come.
Our long-term strength relies on the financial reinforcement of donors through bequests, charitable annuities gifts, and other life-income gifts. Your planned gift today will help us thrive tomorrow and beyond.
It’s a simple process, and even a small gift has a lasting impact. As designated by our Board of Directors, legacy gifts will be invested in our endowment unless otherwise specified by the donor.
Many supporters include a bequest in their will or estate plan. There are many different options for these kinds of gifts. The sample language on this page is provided for informational purposes to help you think through how you’d like to shape your legacy and should be reviewed by qualified legal and tax advisors before use. Every estate is different, and small differences in wording can have significant legal and tax consequences.
Sample Bequest Language
Click on each section to learn more
Specific Bequest - A specific bequest leaves a fixed dollar amount, a particular asset, or a defined piece of property to a nonprofit. It is the simplest and most common form of charitable bequest.
Bequest of a specific dollar amount:
I give and devise to North House Folk School, a nonprofit organization located at 500w Hwy 61, Grand Marais, Minnesota 55604, Federal Tax ID #41-1878887, the sum of $___________, to be used for its general purposes (or for the support of a specific program or fund).
Bequest of specific personal property:
I give and devise to North House Folk School, a nonprofit organization located at 500w Hwy 61, Grand Marais, Minnesota 55604, Federal Tax ID #41-1878887, [DESCRIPTION OF PROPERTY], to be used for its general purposes.
Bequest of specific real estate:
I give and devise all of my right, title, and interest in and to the real estate located at [ADDRESS OR LEGAL DESCRIPTION] to North House Folk School, a nonprofit organization located at 500w Hwy 61, Grand Marais, Minnesota 55604, Federal Tax ID #41-1878887, to be used for its general purposes.
Percentage Bequest Language - A percentage bequest leaves a fixed percentage of your total estate to a nonprofit. This approach allows the size of your gift to rise and fall with the value of your estate, which many donors prefer.
I give and devise to North House Folk School, a nonprofit organization located at 500w Hwy 61, Grand Marais, Minnesota 55604, Federal Tax ID #41-1878887, ____ percent (___%) of my total estate, determined as of the date of my death, to be used for its general purposes.
Residual Bequest Language - A residual bequest is paid from whatever remains in your estate after all expenses, debts, taxes, and specific bequests have been satisfied. Donors who want to provide for family first often use this structure.
I give and devise to North House Folk School, a nonprofit organization located at 500w Hwy 61, Grand Marais, Minnesota 55604, Federal Tax ID #41-1878887, all (or ____ percent) of the rest, residue, and remainder of my estate, both real and personal, to be used for its general purposes (or for the support of a specific program or fund).
Contingent Bequest Language - A contingent bequest directs assets to a nonprofit only if a primary beneficiary does not survive you, or if another stated condition cannot be met. It functions as a safety net within an estate plan.
If [PRIMARY BENEFICIARY] does not survive me, I give and devise to North House Folk School, a nonprofit organization located at 500w Hwy 61, Grand Marais, Minnesota 55604, Federal Tax ID #41-1878887, the sum of $_________ (or all, or ____ percent, of the residue of
Retirement Plan Beneficiary Language - Naming a nonprofit as the beneficiary of an IRA, 401(k), 403(b), Keogh, or other qualified retirement plan is often the most tax-efficient way to make a charitable gift. Because these assets would otherwise pass to heirs burdened by both estate and income taxes, giving them to charity preserves more of the estate’s remaining value for family.
This gift is made directly on the plan administrator’s beneficiary designation form — no attorney is required, and no change to your will is needed. Donors should consult their tax advisor about the specific benefits of their situation.
North House Folk School, a nonprofit organization located at 500w Hwy 61, Grand Marais, Minnesota 55604, Federal Tax ID #41-1878887, as beneficiary of ____ percent (___%) of this account.
Restricted Bequest Language - A restricted bequest directs a gift toward a specific program, purpose, or fund. Because circumstances can change over decades, donors are encouraged to include flexible language that allows the nonprofit to honor the spirit of the gift even if the original purpose becomes impossible or impractical.
I give and devise to North House Folk School, a nonprofit organization located at 500w Hwy 61, Grand Marais, Minnesota 55604, Federal Tax ID #41-1878887, the sum of $_________ (or ____ percent of my estate), to be used for [SPECIFIC PURPOSE].
If, in the judgment of the Board of Directors of North House Folk School, it becomes impossible or impractical to use this bequest for the stated purpose, the Board may apply the income and principal of this gift to a purpose as closely related as possible to my original intent.
Donors considering a restricted bequest are strongly encouraged to discuss the intended purpose with the nonprofit in advance, to confirm the gift can be accepted and used as intended.
Benefits
- Knowledge that you are assuring North House’s vitality for future generations
- The process of clarifying your legacy can be incredibly satisfying
- Opportunity for advantageous estate and income tax benefits
- Invitation to the annual Legacy Circle Gathering each Summer Solstice and Wooden Boat Show
- Special recognition in our Annual Report