Planned Giving
Bequest Language
If you haven't listed the Green River College Foundation as a charitable beneficiary in your will or estate, here are some ideas you could take to your estate advisor:
Green River College Foundation,
12401 S.E. 320th Street,
Auburn, Washington, 98092,
EIN 51-0168649
253-288-3330
Fax 253-288-3420
[email protected]
Options and Suggested Language
You may leave an unrestricted or restricted bequest of cash, property, or a portion or the entire residue of your estate. The following suggested language illustrates these options:
The "Basic" Approach
"I give to Green River College Foundation the sum of $_________" (or specifically described property), followed by whatever details the donor wishes to add concerning use of the gift, the establishment of a memorial fund, etc."
The Unrestricted Bequest:
"I give, devise, bequeath to Green River College Foundation, 12401 S.E. 320th Street, Auburn, Washington, 98092, EIN 51-0168649 (insert sum, percentage, description of property), which shall be held as an endowment named the (insert name) Fund, to be invested and the income distributed (semi-annually, annually) where the Green River Foundation Board of Directors determines the need is greatest."
The Restricted Bequest:
"I give, devise, bequeath to Green River College Foundation, 12401 S.E. 320th Street, Auburn, Washington, 98092, EIN 51-0168649, (insert sum, percentage, description of property) to be held as an endowment known as the (insert name) Fund, to be invested and only the income distributed (semi-annually, annually) in the following manner: (donor should list designation here such as scholarships, library book purchases, technology, etc. and special desires for selection criteria as agreed upon with Foundation . Usually, these details should correspond with a written fund agreement)."
The Residuary Bequest (may be restricted/unrestricted):
"All of the rest, residue, and remainder of my estate, both real and personal, of every kind and description, wherever situated and whether now owned or hereafter acquired, including any property with respect to which I may have power of appointment, I give, devise, bequeath to Green River College Foundation, 12401 S.E. 320th Street, Auburn, Washington, 98092, EIN 51-0168649 To be held, invested, and reinvested in perpetuity as the (insert name) Fund, and the income therefrom used to (insert purpose or designation here)."
Safety-Valve Language:
"If, in the future, there is no longer a need or circumstances should render this bequest impossible or impractical so specified in the opinion of Green River College Foundation's Board of Directors, to use the gift for the purposes above set forth, then the Board of Directors may in their discretion use the gift to improve the quality of education at Green River College, keeping in mind the original wishes of the donor. In any such alternative application, the support made available by this bequest shall be clearly identified and distinguished as the (insert name) Fund."
This language is merely provided to you as an example of more common bequest commitments. We encourage you to have further dialogue with our staff to discuss giving options, as well as close consultation with your attorney in all matters related to your Will and Estate Planning.
Green River College Foundation,
12401 S.E. 320th Street,
Auburn, Washington, 98092,
EIN 51-0168649
253-288-3330
Fax 253-288-3420
[email protected]
Options and Suggested Language
You may leave an unrestricted or restricted bequest of cash, property, or a portion or the entire residue of your estate. The following suggested language illustrates these options:
The "Basic" Approach
"I give to Green River College Foundation the sum of $_________" (or specifically described property), followed by whatever details the donor wishes to add concerning use of the gift, the establishment of a memorial fund, etc."
The Unrestricted Bequest:
"I give, devise, bequeath to Green River College Foundation, 12401 S.E. 320th Street, Auburn, Washington, 98092, EIN 51-0168649 (insert sum, percentage, description of property), which shall be held as an endowment named the (insert name) Fund, to be invested and the income distributed (semi-annually, annually) where the Green River Foundation Board of Directors determines the need is greatest."
The Restricted Bequest:
"I give, devise, bequeath to Green River College Foundation, 12401 S.E. 320th Street, Auburn, Washington, 98092, EIN 51-0168649, (insert sum, percentage, description of property) to be held as an endowment known as the (insert name) Fund, to be invested and only the income distributed (semi-annually, annually) in the following manner: (donor should list designation here such as scholarships, library book purchases, technology, etc. and special desires for selection criteria as agreed upon with Foundation . Usually, these details should correspond with a written fund agreement)."
The Residuary Bequest (may be restricted/unrestricted):
"All of the rest, residue, and remainder of my estate, both real and personal, of every kind and description, wherever situated and whether now owned or hereafter acquired, including any property with respect to which I may have power of appointment, I give, devise, bequeath to Green River College Foundation, 12401 S.E. 320th Street, Auburn, Washington, 98092, EIN 51-0168649 To be held, invested, and reinvested in perpetuity as the (insert name) Fund, and the income therefrom used to (insert purpose or designation here)."
Safety-Valve Language:
"If, in the future, there is no longer a need or circumstances should render this bequest impossible or impractical so specified in the opinion of Green River College Foundation's Board of Directors, to use the gift for the purposes above set forth, then the Board of Directors may in their discretion use the gift to improve the quality of education at Green River College, keeping in mind the original wishes of the donor. In any such alternative application, the support made available by this bequest shall be clearly identified and distinguished as the (insert name) Fund."
This language is merely provided to you as an example of more common bequest commitments. We encourage you to have further dialogue with our staff to discuss giving options, as well as close consultation with your attorney in all matters related to your Will and Estate Planning.