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Parent Update Monday, April 19, 2021 3:45 PM

 Monday Parent Update 4/19/2021
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Planned Giving

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From its founding in 1832, Overbrook has depended on planned gifts to endow the school and sustain its important mission in the future.

By remembering Overbrook in your will, establishing a charitable gift annuity or charitable trust, or making Overbrook a beneficiary of your IRA or Life Insurance Policy, you may be able to create a lifetime stream of income for you and/or a member of your family, as well as enjoy a significant charitable income tax or estate tax deduction.

Your planned gift can help grow Overbrook’s endowment or can support a specific interest or program. We honor all those who have included Overbrook in their estate plans with membership in the Julius Friedlander Planned Giving Society.

logo for Julius Friedlander Giving Society

What is the Julius Friedlander Planned Giving Society?

The Julius Friedlander Planned Giving Society honors those who have provided a lasting legacy for tomorrow’s students by making a life-income gift or remembering Overbrook in their will or estate plan.

The Society is named for Julius Friedlander, who was the founding Principal of Overbrook. Donors interested in joining the Julius Friedlander Planned Giving Society can do so via any number of giving vehicles, included by not limited to:

BEQUEST

The most common form of deferred gift to Overbrook is a bequest contained in a person's will or revocable (living) trust. A charitable bequest is a provision in your will that names Overbrook as the recipient of part of your estate.

A bequest to OSB will be applied to the school’s endowment. Through its growth from gifts/bequests and earnings, the endowment insures the school’s financial stability by providing the means for the school to maintain and upgrade existing facilities as well as seed money to create new programs in response to changing needs of our students. When drafting a will, there are various types of bequests for different needs:
  • Specific Bequest: Name Overbrook as the beneficiary of a stated amount of money, a particular piece of property, or a stated percentage of your estate.
  • Residuary Bequest: Designate Overbrook to receive all or a portion of the remainder of your estate once all specific bequests (to family and friends) have been satisfied.
  • Contingent Bequest: Often, individuals provide that assets should go to family members or friends. However, it is important to provide for a contingent beneficiary to receive assets in case your primary beneficiaries predecease you.

Bequests to Overbrook are deductible from your gross estate and can therefore offer potentially significant estate tax savings. There is no limit on the amount you can leave to Overbrook or to other charitable organizations through your will.

SAMPLE WORDING: (PLEASE CONSULT AN ATTORNEY)

"I give, devise and bequeath to Overbrook School for the Blind, a non-profit organization in the Commonwealth of Pennsylvania, the sum of $_____ (or _____% of my estate) (or all of the residuary of my estate) to be used for its endowment.

BENEFICIARY DESIGNATION

By designating Overbrook as the beneficiary of your life insurance or retirement assets, you can enjoy some flexibility in your charitable giving as well as certain tax advantages. Overbrook will receive the specified assets upon your death, and you have the option of changing the eventual recipient throughout your life.

Donors who have included Overbrook in their estate plans should notify the Development Office (215-877-0313 ext. 264). It is the only way Overbrook will know about the gifts and be able to say "thank you." Recognition of one gift may well inspire generosity in others.


 

Mail-in Donations

For check gifts or pledges, please print, complete and mail in our donation form.
Development Office
Overbrook School for the Blind
6333 Malvern Avenue
Philadelphia, PA 19151-2597
Fax: 215-877-2709



There are many ways to make a tax-deductible donation to Overbrook, including several programs to which you can direct your gift. If you have any questions or for more detailed information, please contact Robert Smith in our Development Office at 215-877-0313, ext. 264 or rsmith@obs.org.


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