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Planned Giving

Bequest Language

pdficon_large.gif Printable Bequest Language

A bequest—a gift in your will—is simple, convenient, and flexible. You can create a legacy through a bequest that fits your particular circumstances. Your bequest can be a specific dollar amount or a percentage of your estate. You can designate your bequest for general use, or you can restrict its use.

Examples of various types of bequests:

Specific bequests are used to make a gift of a specific dollar amount or specific asset (such as securities or personal property).

Residuary bequests are used to give all or a portion of the remainder of your estate after payment of expenses and any specific amounts designated to other beneficiaries.

Including 92Y in your will:

The following includes several examples of suggested bequest wording to benefit 92Y. Each individual situation is unique; therefore, these examples include only some of the possible gift opportunities. We encourage you to discuss your intentions with us to ensure that your wishes will be properly followed and recognized. Because a will is an important legal document, you should seek an attorney's help. To assist you with this important process, we offer suggested wording below.

Percentage of estate for unrestricted purposes:

"I give to the 92nd Street Y, a nonprofit organization located New York, New York, _____ percent (%) of the remainder of my estate for its general charitable purposes.”

Percentage of estate to establish a program fund:

"I give to the 92nd Street Y, a nonprofit organization located New York, New York, _____ percent (%) of the remainder of my estate to establish the ________ Program Fund. This Fund will be used by 92Y during a 5 to 10 year period following its creation for the following purpose: ________________________________________. If changed circumstances should at some future time make it impractical to continue administering the Fund for the purpose designated, then the 92nd Street Y board of directors may redesignate the purpose—provided that the terms adhere as closely as possible to my original intent.”

Specific amount for unrestricted purposes:

"I give to the 92nd Street Y, a nonprofit organization located in New York, New York, the sum of $_______ in cash (or ________ shares of ________ stock) to be used for its general charitable purposes."

Specific amount for specific purposes:

"I give, devise, and bequeath to the 92nd Street Y, a nonprofit organization located in New York, New York, the sum of $_______ in cash or in-kind (or ________ shares of ________ stock) to be used for __________________________________________ at 92Y. If changed circumstances should at some future time make it impractical to continue administering the Fund for the purpose designated, then the 92nd Street Y board of directors may redesignate the purpose—provided the terms adhere as closely as possible to my original intent."

Designating the purpose of a bequest

Unrestricted: The most useful type of bequest is unrestricted, allowing the funds to be allocated wherever the need is greatest, and taking into account that changes (programs, laws, etc.) may necessitate a use that cannot be anticipated at the time of the gift.

Restricted: You may designate your bequest to support a special program or purpose that reflects your interests. You may also restrict your bequest to our endowment. If the bequest is restricted to a specific purpose, it is important that the following wording be added at the end of the provision. This will ensure that, in the remote possibility a specified purpose may cease to need funds in the future, an alternate use for the bequest may be determined.

"If changed circumstances should at some future time make it impractical to continue administering the Fund for the purpose designated, then the 92nd Street Y board of directors may redesignate the purpose—provided the terms adhere as closely as possible to my original intent."

It is also possible to create a named permanent endowment at 92Y with its purpose restricted to a particular use. The minimum amount required to establish a named endowment changes over the years. Please check with us before you include anything specific in your will to make sure we’ll be able to honor your wishes.

Note: Consider adding a provision to your will that instructs your executor to direct to 92Y any bequests that are declined by your heirs. Please contact David Clough, Development Officer for planned giving, at 212.415-5404 or Email to discuss your intentions and to share the news of your future gift. Thank you!

 

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