(AP ) Lucas is currently the chairman of Edutopia, which is part of the George Lucas Educational Foundation. He could put money into that or create a new foundation which would be funded from the sale.
George Lucas Donating Disney Sale Billions to Charity
NOVEMBER 02, 2012Alex Ben Block, The Hollywood Reporter
By the end of the year, the $4.05 billion sale of Lucasfilm to Disney should be finalized. And since George Lucas owns 100 percent of his company - which has little to no debt -- all that money goes to him. “George Lucas has expressed his intention, in the event the deal closes, to donate the majority of the proceeds to his philanthropic endeavors.”