The following sample bequest language may be helpful for your attorney in drafting will provisions.
“I give, devise, and bequeath to Colorado State University Foundation (Tax ID#: 23-7098397), a not-for-profit corporation existing under the laws of the State of Colorado, and located at Fort Collins, Colorado, __________ (percent of your estate, dollars, property, securities, etc.) to be used for ___________ (however you wish for your gift to be used) at Colorado State University.”
If you would like to create a named endowment fund ($25,000 minimum to establish a permanent endowment) with a portion of the annual income designated for a particular purpose, you can express your wishes this way:
“I give, devise, and bequeath to Colorado State University Foundation, a not-for-profit corporation existing under the laws of the State of Colorado, and located at Fort Collins, Colorado (Tax ID#: 23-7098397), __________ (percent of your estate, dollars, property, securities, etc.) to constitute the __________ fund (whatever name you wish to call it within University naming policies). This fund shall be invested by the directors of the Colorado State University Foundation and a portion of the annual income thereof utilized for __________ (whatever you would like the earnings to be used for) at Colorado State University.”
It is also a good idea to include a “saving clause” in your will, in case something happens making it impossible for Colorado State University to carry out your wishes exactly as stated in your bequest. A “saving clause” might read as follows:
“In the event any provision of this bequest shall become void, illegal, impractical, unnecessary, or impossible of performance because of laws or social or economic conditions, which determination shall be made by the board of directors of the CSU Foundation, and as a result thereof, the board of directors shall then determine the best use of the bequest in keeping with the original intent of the donor.”
If the bequest is designated for the use of a college or department within a college, add the following phrase: “. . . in cooperation with the dean of the College of __________.”
The Colorado State University Foundation is a Colorado nonprofit corporation exempted from federal income taxation as a section 501(c)(3) publicly supported charity.
It is always a good idea to share your plans with the gift planning office at Colorado State University in order that we may be certain that the language used will accurately carry out your desires. For further information, please call us at (970) 491-3414.
- Complete the Statement of Intent form to let us know of your gift intentions and to ensure peace of mind that your gift will have the desired impact at CSU. If you have already completed this form, or an early version, there is no need to complete it again.
- Contact the Office of Gift Planning at (970) 491-3414 or email@example.com for additional information on bequests or to discuss the different options for including CSU in your will or estate plan.
- Seek the advice of your financial or legal advisor.
- When including CSU in your plans, please use our legal name and federal tax ID.
Legal Name: Colorado State University Foundation
Location: PO Box 1870, Fort Collins, CO 80522
Federal Tax ID Number: 23-7098397
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.