ONSC Legacy Club
Leave a legacy by making a planned gift to ONSC and joining the ONSC Legacy Club!
Planned giving is a way to make a future gift as part of your estate plan. With the assistance of your estate planning advisors, you can make a charitable bequest in your will or trust to ONSC as a beneficiary.
When you make a planned gift to ONSC, you become a part of the ONSC Legacy Club. The Club was created to help grow ONSC’s operational endowment and sustain its annual programming. Club members are invited to gather annually for a personal update from ONSC’s board chair and executive director, and are regularly recognized for being pillars of support.
To become a member of the Club, all we ask is that you inform us that you have made a planned gift. Details will always be kept private, and joining the Club is not contingent upon the size or type of planned gift.
ONSC will gladly work with your estate planning professionals to help determine the best plan for you and your loved ones.
For more information, please contact:
Rose Brown, Executive Director
479-202-8340
Frequently Asked Questions
What is the purpose of the Legacy Club?
The Legacy Club was created to develop and provide a permanent source of supplemental funding for ONSC’s educational programming, campus care, and operational endowment.
Currently, ONSC charitable giving is received from two sources: direct giving by donors through an annual appeal, and fundraising events.
The Legacy Club is designed to provide a third permanent source of funds to support ONSC’s mission. The Legacy Club provides funding for the following:
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Educational programming and campus care: These funds will be used to support educational programming, including but not limited to program scholarships to schools or individuals, camps, and public programming. Campus care includes all ongoing and major maintenance to ensure our facilities are efficient, attractive, comfortable, and safe.
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Operational Endowment: ONSC has an endowment through Arkansas Community Foundation that stands alone, is invested professionally, grows into the future, and exists in perpetuity, providing an annual third source of funds for operations.
When a legacy gift matures, funds will be allocated to the two investment areas as decided by the board of directors based on ONSC’s current goals and needs.
I already give to ONSC annually, why give again?
ONSC appreciates your annual giving! Your gifts support our educational programs, campus care, and operations. The Legacy Club will provide for an additional source of funding allowing you to have a positive impact on ONSC and our community for years into the future.
What are some of the benefits of giving to the Legacy Club with my estate plan?
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Your assets remain in your control during your lifetime
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You can modify your bequest if your life circumstances change
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It is private; the amount of your bequest will only be released if you desire or upon your death
Is my gift tax deductible?
Yes, the Legacy Club is operated by ONSC, which is incorporated in the State of Arkansas, and is a qualified, tax-exempt organization under Internal Revenue Code § 501(c)(3).
Bequests are also fully deductible for federal tax purposes. They may be deductible for state inheritance taxes also.
Do I have to specify a specific dollar amount in my estate plan?
No, a request can be a specific dollar amount (“I bequeath the sum of Ten Thousand [$10,000] Dollars”) or it can be a percentage amount ("I bequeath Ten [10%] Percent of the residue of my estate")
How do I name the Legacy Fund in my estate plan?
In your estate plan, please include: Ozark Natural Science Center, EIN 71-0705259 with principal business address of 1905 Madison 1305, Huntsville, AR 72740
Does the Legacy Club accept gifts of stocks and bonds?
Gifts of appreciated securities (bonds and stock, including stock in closely held companies) may be donated. Such gifts often provide important tax advantages. Their full fair market value is deductible as a charitable contribution up to 30 percent of your adjusted gross income. As with gifts of cash, deduction amounts exceeding this limit may be carried forward for up to five additional years. The added benefit of giving appreciated securities is the avoidance of the capital gains tax on the appreciated portion of the gift. Gifts of closely held stock enjoy the same tax benefits as gifts of publicly traded stock.*
Can I designate the Legacy Club as a beneficiary to my life insurance?
Yes, life insurance policies also can be used as charitable gifts. If you name the Ozark Natural Science Center Legacy Club as the owner and beneficiary of an existing or new life insurance policy, you receive an immediate tax deduction, which usually approximates the cash surrender value of the policy. All subsequent premium payments made by you will be deductible as a charitable contribution. There is no minimum dollar amount of the life insurance policies to be considered for acceptance. *
Can I designate the Legacy Club as a beneficiary retirement account?
Yes, the Legacy Fund can be designated as the beneficiary of your retirement plan (IRA/401k etc.) as the sole beneficiary or a percentage beneficiary. *
Can my estate gift be contingent on other factors or conditions?
Yes, the gift could only take effect if certain conditions are met. For example, it may state, “In the event my spouse does not survive me, I give to the Ozark Natural Science Center Legacy Fund for $___ amount.”
I already have a completed will / estate plan. Is it expensive to make a change and include the Legacy Fund?
You can amend a will or trust to make a gift without rewriting the entire document. Your attorney can prepare a simple document, called a codicil, which adds a new bequest to the Legacy Club while reaffirming the other terms of your will. Similarly, an attorney can prepare an amendment to a revocable trust to add the Legacy Club as a beneficiary.
Are there other types of gifts I can give?
Yes, the fund can accept real estate and tangible personal property. These gifts must be approved first by the Ozark Natural Science Center Board of Directors.
Can I make a donation now?
Yes, in addition to including the Legacy Club in your estate plans, we welcome all types of gifts.
Online: Visit the ONSC website, www.onsc.us/donate. Choose “Legacy Club”
Mail or In Person: Simply make your check payable to the Ozark Natural Science Center and write, in the memo line “Legacy Club”. Send the check to the following address:
Ozark Natural Science Center
1905 Madison 1305, Huntsville, AR 72740
Other Gifts: For other gifts such as appreciate stocks, please contact info@onsc.us
How is the fund managed? How can I be sure it is safe in the future?
When the gift is received the board of directors will determine how the funds will be divided between 1) educational programming and campus care and 2) operational endowment based on ONSC’s current needs. Our endowment is operated by Arkansas Community Foundation. Visit the ARCF website for more information.
Who decides when the funds are spent? How is it decided?
The Legacy Club was established with a set of guidelines to regulate its operations. Distributions from the fund will be recommended by the ONSC Board of Directors who govern this 501(c)(3) organization.
Would the club like to know when I include the Legacy Club in my estate plans?
Yes, please! We would like to formally recognize that you have included the Legacy Club in your plans. If you prefer to remain anonymous, we would still like to know about your planned gift for our own internal planning purposes.
Also, once we know that you have included the Legacy Club in your plans, we will no longer have to include you in our annual outreach for the Legacy Club.
* Information provided is not intended to be tax or legal advice. Please consult a qualified financial advisor before making a gift.