Another Powerful Gift: Bequests
By: H Nieh
Tags: Fundraising Advice, Fundraising Ideas, Bequest, Fundraising, Nonprofit Fundraising

Fundraising. We know what this is at the most basic level: raising funds. So many non-profits and organizations use tools and best practices to procure funding to operate, grow, and continuously strive toward their missions. And yet, there are lesser known, but nonetheless just as impactful ways to give, such as a bequest.

An excellent way for you to support New Energy Nexus’ mission is to leave us a bequest in your will, living trust or with a codicil. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life. Another benefit is that you are able to leave a lasting legacy.

Giving is not just about donation, but about making a difference.

Our Legal Name and Address: New Energy Nexus, is a 501(c) 3 tax-exempt charitable organization, located at: 436 14th Street, Suite 1220, Oakland CA 94612.

New Energy Nexus’ Federal Tax ID/EIN: 26–1339988

Date of Incorporation: October 27, 2008

*Before we get started, a special thank you to UnitedWay and The American Cancer Society for guidance on the sample text!

Types of Bequests

There are a number of ways you can make a bequest to New Energy Nexus:

Specific Bequest. A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to New Energy Nexus.

Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to New Energy Nexus.

Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to New Energy Nexus.

Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to New Energy Nexus.

Bequest Benefits

A bequest is generally a revocable gift, which means it can be changed or modified at any time. You can choose to designate that a bequest be used for a general or specific purpose so you have the peace of mind knowing that your gift will be used as intended. Bequests are exempt from federal estate taxes. If you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.

Types of Bequests

In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to New Energy Nexus in your estate plan. We have provided some basic bequest language to assist you and your attorney.

1. Specific Bequest

If you are considering making an outright bequest to New Energy Nexus, we recommend the following language:

Bequest of a Specific Dollar Amount

I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to New Energy Nexus, a nonprofit organization located at 436 14th Street, Suite 1220, Oakland CA 94612, Federal Tax ID #26–1339988, for New Energy Nexus’ general use and purpose.

Bequest of Specific Personal Property

I hereby give, devise and bequeath DESCRIPTION OF PROPERTY to New Energy Nexus, a nonprofit organization located at 436 14th Street, Suite 1220, Oakland CA 94612, Federal Tax ID #26–1339988, for New Energy Nexus’ general use and purpose.

Bequest of Specific Real Estate

I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to New Energy Nexus, a nonprofit organization located at 436 14th Street, Suite 1220, Oakland CA 94612, Federal Tax ID #26–1339988, for New Energy Nexus’ general use and purpose.

2. Percentage Bequest

If you are considering making a bequest of a percentage of your estate to New Energy Nexus, we recommend the following language:

I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to New Energy Nexus, a nonprofit organization located at 436 14th Street, Suite 1220, Oakland CA 94612, Federal Tax ID #26–1339988, for New Energy Nexus’ general use and purpose.

3. Residual Bequest

I hereby give, devise and bequeath to New Energy Nexus, a nonprofit organization located at 436 14th Street, Suite 1220, Oakland CA 94612, Federal Tax ID #26–1339988, ALL OR A PERCENTAGE of the rest, residue and remainder of my estate to be used for New Energy Nexus’ general use and purpose.

4. Contingent Bequest

If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to New Energy Nexus, a nonprofit organization located at 436 14th Street, Suite 1220, Oakland CA 94612, Federal Tax ID #26–1339988, DESCRIPTION OF PROPERTY to be used for New Energy Nexus’ general use and purpose.

Restricted Bequests

If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.

If you are making a restricted bequest, we recommend that your attorney include the following provision to give New Energy Nexus flexibility should it no longer be possible for our New Energy Nexus to use your gift as you originally intended:

If, in the judgment of the Board of Directors of New Energy Nexus, it shall become impossible for New Energy Nexus to use this bequest to accomplish the specific purposes of this bequest, New Energy Nexus may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest.

The Clean Fight NY

Sample Language Below

Sample Bequest of Remainder of Estate

“I give, devise, and bequeath to the New Energy Nexus TAX I.D. #26–1339988, all [or state the fraction or percentage] of the rest, residue, and remainder of my estate, both real and personal. New Energy Nexus may be contacted in care of its headquarters 436 14th Street, Suite 1220, Oakland CA 94612.”

Sample Bequest of Specific Amount

“I give, devise, and bequeath $_____ to the New Energy Nexus. TAX I.D. #26–1339988. The American Cancer Society may be contacted in care of its headquarters at 436 14th Street, Suite 1220, Oakland CA 94612”

These are merely suggestions as to content and should be written or adapted by legal counsel to fit the contributor’s individual situation.

Sample Bequest of Residue of Estate (after probate costs and other expenses):

I give to New Energy Nexus, currently of 436 14th Street, Suite 1220, Oakland CA 94612, ___% of the rest and residue of my estate to be used in such a manner as the Board of Directors of New Energy Nexus shall, in its sole discretion, determine.

Safety Language

Language added whenever a gift is restricted

In the event the purposes of the restriction, in the opinion of the Board of Directors of New Energy Nexus, can no longer be served, the Board may devote any remaining assets exclusively for charitable purposes that: (i) are within the scope of the charitable purpose, (ii) most nearly approximate the original purpose of the gift; and (iii) benefits the charity.

Thank You

We would like to take the opportunity to extend to you our warm appreciation for your kind consideration; we are truly honored to be thought of in this way. We find some our friends prefer to keep anonymity and we most honorably respect that. If you would like to let us know of your intentions, we invite you to contact us so we can extend our thank you personally.