Bequests that are more than $10,000 can establish a named endowed fund at the Valley Community Foundation to benefit the community or a specific nonprofit organization(s) in perpetuity. Bequests of any size can be added to an existing fund of the Valley Community Foundation, as well.
Sample Language for a Bequest
For the benefit of a specific nonprofit organization:
“I give (or bequeath) to [official name of eligible organization], located in [city, state], a non-stock, charitable corporation, for general charitable purposes, the following assets: [insert assets]."
To establish a permanent endowed fund at the Valley Community Foundation designated for a specific organization the additional following language would be appropriate:
“This gift is intended to create an endowed designated fund for charitable purposes in accordance with the Certificate of Incorporation and the By-Laws of the Valley Community Foundation. It is my desire that this fund be known as the [insert name] Fund. Annual distributions from the Fund, as determined in accordance with the spending rule policies of the Valley Community Foundation, shall be awarded to [name of organization].”
To add to an existing fund at the Valley Community Foundation the additional following language would be appropriate
(if nonprofit organization has an existing fund at VCF, you may want to suggest this to your donor):
“This gift is intended to be an addition to the [insert Fund name] Fund in accordance with the Certificate of Incorporation and the By-Laws of the Valley Community Foundation”
