Bequest Language

SAMPLE BEQUEST LANGUAGE

The following language is suitable for inclusion in the will of a donor who wishes to leave a bequest to the community foundation:

 

I bequeath to the Parke County Community Foundation, an Indiana nonprofit corporation, FED ID#35-1881810, ______________________________________________________________________________________(describe bequest – for example, “Ten Thousand Dollars” or “all of the residue of my estate”) to be used in all furtherance of the charitable purposes of the community foundation as defined in and subject to the provisions of its Articles of Incorporation and Bylaws.

 

If the amount of the bequest meets the minimum contribution requirements for an endowment or legacy fund, the donor may create a separately identifiable fund by name and purpose by adding language from one of the four options that follow:

 

This bequest will be used to establish a component fund to be known as the ________________________________________Fund.  I direct that the annual distribution of the fund be used exclusively for the charitable purposes set forth in the Articles and Bylaws of the community foundation as determined from time to time by the governing board.

 

 

This bequest will be used to establish a component fund to be known as the ________________________________________ Fund.  I direct that the annual distribution of the Fund be used for ____________________________________

(specify charitable purpose or example, “the care of the homeless” or “senior citizen health care”).

 

This bequest will be used to establish a component fund to be known as the ________________________________________ Fund.  I direct that the annual distribution of the Fund be used to support _______________________________

(insert name(s) of particular charitable agency(s) to be supported, for example, “the ABC Community Hospital” or the ABC School District”).

 

 

This bequest will be used to establish a component fund to be known as the ________________________________________ Fund.  I direct that an Advisor’s Committee consisting of ________________________ may make written recommendations from time to time to the governing board provided the proposed grant is in furtherance of the general charitable purposes of the community foundation as determined by the Board of Directors.

 

*As of 4/1/07 minimum contribution for a component endowment fund is $5,000.

Legacy Fund/Unrestricted Purpose (Option 1)
Field of Interest Fund (Option 2)
Designated (Agency) Fund (Option 3)
Donor Advised Fund (Option 4)

115 N. Market Street

PO Box 276

Rockville, IN 47872

Fax:

765-569-5383

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