“I hereby give, devise, and bequeath to the University of Oregon Foundation, a corporation existing under the laws of the State of Oregon, Taxpayer Identification Number 93-6015767, [insert description of property item or sum to be given], to be used in the following manner:” (1)
To provide general support to the university:
“. . . to further the objectives and purposes of the University of Oregon, as determined by the president of the university.”
OR
To specify a particular use on campus:
“. . . to establish the John and Jane Duck Fund, an endowed [or non endowed] fund, the income only [or the principal and the income] of which shall be used to provide [scholarships, faculty support, and so forth] in [campus program or area] at the University of Oregon.” (2)
Additional language to include:
“If possible, this charitable bequest shall be satisfied with assets deemed to be ‘income in respect of a decedent [IRD],’ under the Internal Revenue Code of 1954, as amended.” (3)
“In making this gift, it is my intention to serve the University of Oregon and its students and I desire that the foregoing statement of purpose be liberally construed so that this objective may be fully accomplished. If, at any time in the judgment of the president of the University of Oregon, changed circumstances substantially interfere with the beneficial realization of such purposes, then the funds may be used for such other similar purposes as the president of the University of Oregon, in his or her discretion, determines to be consistent with my interests and intentions.”
(1) It is important that your gift be designated to the University of Oregon Foundation rather than the university itself. The foundation was created specifically to receive and invest funds that support the university.
(2) If your gift is $25,000 or greater, you can designate it as a permanently named endowment. We encourage you to talk to representatives of the college, school, department, or program you wish to support to create an endowment agreement to ensure that your desires for the use of the funds are made clear.
(3) IRD language is suggested to lower potential taxes and to make sure your gift can be used by the university even if, for some unforeseen reason, it becomes impossible to distribute the funds to your original purpose.
(4) This default language allows your gift to support your preferred area, despite a name change or department restructuring.
UO Gift Planning
(541) 346-3016 or 1-800-289-2354
Fax (541) 346-2574
E-mail giftplan@uoregon.edu