Bequest
(Sample language)

• Unrestricted Gift: A gift that can be used where need is greatest
  I give to Wells College, a non-profit 501(c)(3) Corporation, headquartered in Aurora, NY the sum of $_______* for its general purposes.
  
• Gift for a Specific Purpose: A gift that is to be used for a specific purpose
  I give to Wells College, a non-profit 501(c)(3) Corporation, headquartered in Aurora, NY the sum of $_______* to be used for [state purpose].
• Perpetual Endowment Fund: A gift that lasts in perpetuity
  I give to Wells College, a non-profit 501(c)(3) Corporation, headquartered in Aurora, NY the sum of $_______*, to be used as a permanent endowment, the income only from which shall be used for its general purposes (or describe the specific purpose, if desired).
• Residuary Bequest: Leaves any remainder after all other bequests have been paid
  All the rest, residue, and remainder of my estate, both real and personal, I give to Wells College, a non-profit 501(c)(3) Corporation, headquartered inAurora, NY for its general purposes.
• Contingency Gift: Takes effect only if a primary intention can’t be met.
  If (name of beneficiary) does not survive me, or shall die during the administration of my estate, or as a result of a common disaster, then I give to Wells College, a non-profit 501(c)(3) Corporation, headquartered in Aurora, NY all of the rest, residue, and remainder of my estate, to be used for its benefit.
• 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 Wells College can no longer be served, the Board may devote any remaining assets exclusively for charitable purposes that: (a) are within the scope of the charitable purposes of charity (b) most nearly approximate the original purpose of the gift; and (c) benefits charity.
  
  
  

* Rather than leaving a sum certain, you can include language that refers to a percentage of your estate or a description of the property you wish to give.

Pettibone House
Aurora, NY 13026
315-364-3443 | Fax: 315-364-3362
E-mail: development@wells.edu

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