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Syracuse University Planned Giving

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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, $________ (or state all or 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, all (or state percentage) of the rest, residue and remainder 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 sum of $ _______ (or all or a percentage of the residue of my estate) 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 sum of $___________ 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, all (or state amount or percentage) of the rest, residue and remainder 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.

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The material presented in this web site is not offered as legal or tax advice. You are urged to seek the advice of your tax advisor, attorney, and/or financial planner to make certain the gift you are considering fits into your overall circumstances and planning.