Sample Bequest Language
Perpetual Endowment Language (a gift that lasts in perpetuity)
I give, devise and bequeath to Syracuse University, a non-profit 501(c)(3) corporation, headquartered in Syracuse, NY, the rest, residue and remainder (or state all, a $ amount, or a percentage) 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).
Residual Bequest Language (gives any remainder after all other bequests have been paid)
A residual bequest comes to us after your estate expenses and specific bequests are paid:
I give, devise and bequeath to Syracuse University, a non-profit 501(c)(3) corporation, headquartered in Syracuse, NY, the rest, residue and remainder (or state all, a $ amount, or a percentage) of my estate, both real and personal, to be used for its general support (or for the support of a specific school, unit, fund or program).
Contingent Bequest Language (used only when a primary intention can't be met)
Syracuse University or its affiliates can be named as a contingent beneficiary in your will or personal trust if one or more of your specific bequests cannot be fulfilled:
If (insert name) does not survive me, or shall die during the administration of my estate, or as a result of a common disaster, then I give, devise and bequeath to Syracuse University, a non-profit 501(c)(3) corporation, headquartered in Syracuse, NY, the rest, residue and remainder (or state all, a $ amount, or a percentage) to be used for its general support (or for the support of a specific school, unit, fund or program).
Specific Purpose Bequest Language (used to give to a specific purpose or program)
Naming Syracuse University as a beneficiary of a specific amount from your estate is easy:
I give, devise and bequeath to Syracuse University, a non-profit 501(c)(3) corporation, headquartered in Syracuse, NY, the rest, residue and remainder (or state all, a $ amount, or a percentage) to be used for its general support (or for the support of a specific school, unit, fund or program).
Unrestricted Purpose Bequest Language (a gift that can be used where the need is greatest at the time)
I give, devise and bequeath to Syracuse University, a non-profit 501(c)(3) corporation, headquartered in Syracuse, NY, the rest, residue and remainder (or state all, a $ amount, or a percentage) of my estate, both real and personal, to be used for its general support.
Retirement Plan Beneficiary Language
You may name Syracuse University as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.
Naming Syracuse University as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming Syracuse University as a beneficiary of a retirement plan, the donor maintains complete control over the asset while living, but at the donor's death the plan passes to support Syracuse University free of both estate and income taxes.
Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change of beneficiary form from your plan administrator. When you are done, please return the form to your plan administrator and notify Syracuse University. We can also assist you with the proper language for your beneficiary designation to Syracuse University.
Safety Language (used whenever a gift is restricted)
In the event the purposes of the restriction, in the opinion of the Board of Trustees of Syracuse University 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.
Customized Language
If you or your attorney would like Syracuse University to provide you with customized beneficiary language that is specific to your goal and interest, please contact us.
Federal Tax ID Number
Syracuse University's Federal Tax ID number is 15-0532081.
Please contact us so we can assist you though the process and ensure we understand how you would like your gift to be used when it arrives.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance. A copy of our most recently filed financial report is available from the Charities Registry on the New York State Attorney General’s website (www.charitiesnys.com) or, upon request, by contacting the New York State Attorney General, Charities Bureau, 28 Liberty Street, New York, NY 10005, or us at 640 Skytop Road, 2nd Floor, Syracuse, NY 13244-5160. You also may obtain information on charitable organizations from the New York State Office of the Attorney General at www.charitiesnys.com or (212) 416-8401.