Make a Planned Gift
Bequests
A bequest is a way to make a meaningful difference at the University without impacting your current lifestyle. You may bequeath:
- A percentage of your estate
- A specific dollar amount or asset
- The balance or residue of your estate
Funds created through a bequest may be named after you or a loved one or unnamed. Bequests may be unrestricted (for general use) or restricted (for a specific purpose, such as endowment or scholarship). A contingent bequest can allow you to provide for living loved ones, while providing for the Mount. Please contact the University to help you fulfill your wishes.
Below is basic sample language for bequests:
| “I give, devise and bequeath to the University of Mount Saint Vincent, a New York not-for-profit corporation located in Bronx, New York [dollar amount, percentage of the estate or description of property, or remainder of estate]. This gift shall be used for [state purpose] if and so long as the President and Board of Trustees determine that the need exists. If the President and Board of Trustees determine at the outset or at a later time that the need does not exist, or no longer exists, or for some reason it is not possible (or prudent) for the bequest to be used as originally intended, the President and Board of Trustees may, in its sole and uncontrolled discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above.” |
The language given here is only suggested language and is meant to be used with the advice of your attorney or financial advisor. Each individual situation is unique and, therefore, this example includes only some of the possible gift opportunities.
Gifts that Pay You Back
Charitable Gift Annuity
A Charitable Gift Annuity allows you to transfer your cash or appreciated property to the Mount in exchange for the University’s promise to pay you a fixed income (at rates based on your age) for the rest of your life. Income begins immediately or can be deferred.
Charitable Remainder Trust
A Charitable Remainder Trust (CRT) provides a donor and/or other beneficiaries with a stream of income for life or for a period of years. After the trust ends, the accumulated principal, or “remainder interest,” becomes the property of the University.
Charitable Lead Trust
A Charitable Lead Trust (CLT) is a way to make a future transfer of assets to heirs at a significantly reduced gift and estate tax cost, while supporting the University with an annuity or fixed percentage of the trust assets, paid annually. At the end of the trust term, the assets are passed to the beneficiaries.
Other Planned Gifts
Retirement Plans
You can designate the University as a beneficiary of any individual retirement account (IRA), pension, profit-sharing plan, mutual fund, or other savings vehicle that you have developed for your retirement.
Appreciated Securities
Gifts of appreciated securities, including stocks and bonds, allow you to make a gift without paying the capital gains tax. The gift must be made to the University prior to the sale of the asset.
Life Insurance
You can name the University as the beneficiary or the owner and beneficiary of a life insurance policy during your lifetime. You may donate a new policy or one that is no longer required to meet the needs of a loved one.
Retained Life Estate
You can deed your home to the University and keep the right to use it for the rest of your life, even if it is mortgaged.
Personal Property/Real Estate/Gifts-in-Kind
Gifts of personal property such as artwork, jewelry, or real estate may be given to the University.
Business Interests
You may give the Mount an interest in a closely held or family business.
We would like to work with you and your attorney or financial planner to help determine the best way to achieve your personal and philanthropic goals. We hope you will make a planned gift to the University and consider membership in our Centennial Society.
University Legal Name
University of Mount Saint Vincent
Tax ID#
13-1740445
Contact
advancement@umsv.edu
718.405.3237