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Bequest Language

pdficon_large.gif Suggested Bequest Language

Gifts (Unrestricted)

I/We enclose my/our check for $___________ payable to Mercy College. This is an irrevocable gift and shall be used at the campus to further the goals of Mercy College as The Board in their discretion deem appropriate.

I, the undersigned Donor, hereby donate and convey to Mercy College, for the benefit of Mercy College, all rights, title, and interest that I possess in the following materials _________________________ (hereinafter “the Gift”), on the terms provided in this Deed of Gift. I understand that the location, cataloging, and preservation of the Gift or other considerations relating to the use or disposition of this Gift will be at the discretion of Mercy College in accordance with institutional policy.

I, _________________ (the “Donor”), hereby give, donate, transfer, assign, convey, and deliver all of the rights, title, and interests which I possess in and to the Property described below, including any literary rights, copyrights, copyright registrations, royalties, or other income, to Mercy College. (List gift). Donor represents and warrants that Donor is the sole owner of Property, and that Donor has the full right, power, and authority to give the Property to Mercy College. (List restrictions). Donor acknowledges that: decisions regarding the location, cataloging, and preservation of the Gift or relating to the use or disposition of this Gift will be made by Mercy College in its sole discretion; duplicate or other non-unique materials may be removed from Gift and discarded; employees, students, researchers, or other interested members of the public may be permitted to make copies of items of Property in this Gift; University may publish, or may digitize and disseminate in electronic form, all or any portion of the Gift; the Property constituting the Gift, and any future additions or accessions to the Gift, may be accessible to employees of Mercy College, students, researchers, and other interested members of the public, subject to the access limitations, if any stated below:

Deed of Gift

I (We) hereby give, transfer, and deliver to Mercy College the property described below, which I (we ) own:

The value of this property is $___________, as determined by _________ Donor ______ Qualified Appraiser. (Written appraisals are required to substantiate tax deductions for gifts valued in excess of $5,000.)

I hereby direct $___________ (or ______ percent of my residual estate) in cash, securities, or other property to the Board of Trustees of Mercy College for the benefit of Mercy College at Dobbs Ferry, New York. This gift shall be for the further benefit of _____________ (college, school, unit) _________ and shall be used to _____________ (purpose).

Gift (Restricted)

I/We enclose my/our check for $________ payable to Mercy College. This is an irrevocable gift, and shall be used for ______________ (specify purpose) __________ at the ______________________ campus.

Bequest (Unrestricted)

I give, devise, and bequeath to the Mercy College in the Town of Dobbs Ferry in the State of New York, an educational corporation, _____ percent (%) of the rest, residue, and remainder of my estate as an unrestricted gift to be used at the discretion of the Board of Trustees of Mercy College for the general purposes of Mercy College, located in Dobbs Ferry, New York.

I give ____________ (dollars/percent of my residue of my estate) to Mercy College, a New York educational, charitable corporation (for its general purposes) or (for the benefit of ).

Bequest (Restricted)

I give, devise, and bequeath to Mercy College in the Town of Dobbs Ferry in the State of New York, an educational corporation, ______ percent (%) of the rest, residue, and remainder of my estate to establish the _____________ ENDOWED FUND.  The principal of this fund shall be invested as part of Mercy College’s permanent endowment and in accordance with its policies. The earnings distribution therefrom is to be used by the Trustees of Mercy College in the Town of Dobbs Ferry in the State of New York, an educational corporation, for ______________________ ___________________________________. Contributions may be added to the fund at any time.  If changed circumstances should at some future time make it impractical to continue using the earnings distribution from the Fund for the purpose designated, then the Mercy College Board of Trustees may redesignate the purpose for which the ENDOWED FUND and that the amended terms shall adhere as closely as possible to my original intent.

If (insert name) does not survive me, I give and devise to Mercy College, Dobbs Ferry, New York, all the rest, residue, and remainder of my estate, both real and personal, to be held, administered, and used by the Board of Trustees for the unrestricted support of the (college department) at Mercy College. I instruct that all my charitable gifts shall be made, to the extent possible, from property that constitutes “income in respect of a decedent” as that term is defined in the Internal Revenue Code.

 

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