When a gift that creates a fund is made through a donor’s estate, we suggest that the will, revocable trust, or beneficiary designation include language making the gift to the La Crosse Community Foundation, and that the terms of the fund be spelled out in a separate gift agreement.
The following sample language can be used for estate gifts. We recognize that each individual situation is unique; therefore, we recommend you contact the Foundation for customized language for your desired plans.
Percentage of Estate or Residuary Bequest
“I give to the La Crosse Community Foundation, a nonprofit corporation located in La Crosse, WI an amount equal to ______ percent of the total value of the assets in my estate (or the residue of my estate), whatever the amount shall be at the time of my death. This gift is for discretionary purposes to meet the highest priority needs of the community as those arise/is to be added to the [name the existing endowment of the Foundation here].”
“I give to La Crosse Community Foundation, a nonprofit corporation located in La Crosse, WI, all my right title and interest in the following described property: [list property here]. This gift is for discretionary purposes to meet the highest priority needs of the community as those arise/is to be added to the [name the existing endowment of the Foundation here].”
You may establish an endowment for a specific purpose through your estate by stating, “This gift is to be added to the _____________________________ Fund and used in accordance with the written agreement entered into by me and La Crosse Community Foundation during my lifetime.” In this case, we work with you to establish the fund particulars in a separate document that may be amended at any time before the bequest is received. This avoids the necessity of amending estate documents if you change your mind about the purpose of the fund.
Tax ID Number of the La Crosse Community Foundation: 39-6037996
For more information contact:
Petra Roter, PhD
(608) 782-3223 ext. 22