A bequest to the Cultural Trust will qualify your estate for a charitable deduction equal to the entire amount you bequeath. The Cultural Tax Credit may not be used in conjunction with a federal deduction by a gift to the Trust.
Here is some sample language to include in your will:
A general bequest:
“I give to Oregon Cultural Trust, whose current legal address is Oregon Cultural Trust Fund, c/o Business Oregon, 775 Summer St NE, Suite 200, Salem, Oregon 97301 the sum of $___________ (or specifically describe property or percentage of estate or residual), to be used for its general charitable purposes as the Board of Directors of the Oregon Cultural Trust shall determine.”
Your gift will be acknowledged in the Oregon Cultural Trust’s Annual Report unless you request otherwise.
The property and any additions shall be accounted for and designated by Business Oregon as the Fund for Cultural Development (“Fund”).
Have questions? Contact Aili Schreiner at aili.schreiner@biz.oregon.gov or 503.428.0963.
