Testamentary, Intervivos, or Life-Income Gifts to the East County Senior Center

 

 

The East County Senior Center is very grateful to any person wishing to provide for it through his or her estate planning.  As you know, there can be significant tax benefits as well as personal satisfaction for clients who choose to pursue planned giving as part of their estate plan.

 

Gifts for the East County Senior Center are placed in our Legacy Fund, an endowment fund for permanent investment, with the income being used to ensure the Senior Center can continue to provide important services for years to come.  (Gift provisions can, however, be directed instead to provide for a specific program or activity, if the client prefers.  In such an event, please contact the Senior Center Director regarding the feasibility of accepting such a directed bequest, and for the correct language to be used.)

 

The East County Senior Center established the East County Senior Center Legacy Fund to accept and protect donor gifts.  In order to ensure our donors the highest level of assistance and care, our endowment fund is managed and operated by the Greater Everett Community Foundation, a 501(c)(3) nonprofit organization which works in partnership with donors and agencies to help meet their long term goals.

 

As a Designated Agency of the Foundation, we can accept your clients’ charitable gifts or bequests by and through the Foundation.  Our association with the Foundation provides your clients with the following significant benefits:

 

▸ Professional management of your clients’ funds

▸ Assurance that your clients’ money will receive wise stewardship in perpetuity

▸ Processing of annual distributions of endowment earnings to the Senior Center

▸ Issuance of Donation Receipts

▸ Issuance of Quarterly Fund Statement showing Fund balance and distributions made

▸ Recognition in the Foundation’s Annual Report *

▸ Special membership in the East County Senior Center Legacy Society *

 

            * (unless donor prefers anonymity)

 

The Senior Center, through the Foundation, is able to accept not only Testamentary Bequests, but also Gift Annuities, interests in Charitable Lead and Charitable Remainder Trusts, and outright Gifts of assets such as cash, stocks, bonds, real estate, and other items.

 

If any of your clients have already included the East County Senior Center in their estate plans, please encourage them to contact us so that we may honor their support with a membership in our Legacy Society.

 

Enclosed you will find additional information on the Foundation, our Legacy Fund, and our Legacy Society, which may be of interest to you and your clients.  We have also provided sample language for your clients’ bequests to the Legacy Fund.

Sample Testamentary Language

 

A donor can bequeath either a sum certain or a percentage of his or her estate.  The following is some sample language that may be used depending on the donor’s wishes and needs:

 

 

 

Primary gift - sum certain:

 

I give, devise, and bequeath to East County Senior Center Legacy Fund at the Greater Everett Community Foundation, 276 Sky River Parkway, P.O. Box 602, Monroe, Washington, 98272, EIN number 94-3188703, the sum of $                                  .

 

 

Primary gift - percentage of estate:

 

I give, devise, and bequeath to East County Senior Center Legacy Fund at the Greater Everett Community Foundation, 276 Sky River Parkway, P.O. Box 602, Monroe, Washington, 98272, EIN number 94-3188703,                        percent of my estate.

 

 

Primary gift - specific property:

 

I give, devise, and bequeath to East County Senior Center Legacy Fund at the Greater Everett Community Foundation, 276 Sky River Parkway, P.O. Box 602, Monroe, Washington, 98272, EIN number 94-3188703, the following (real / personal) property:

                                                                                                         . (Note: real property should include full legal description and tax parcel ID number.)

 

 

Residuary bequest (that which remains after other bequests have been made or have failed):

 

I give, devise, and bequeath to East County Senior Center Legacy Fund at the Greater Everett Community Foundation, 276 Sky River Parkway, P.O. Box 602, Monroe, Washington, 98272, EIN number 94-3188703,                   percent of the residue of my estate.

 

 

Contingency bequest:

 

In the event that                                                    predeceases me, I give, devise, and bequeath his/her bequest or share to the East County Senior Center Legacy Fund at the Greater Everett Community Foundation, 276 Sky River Parkway, P.O. Box 602, Monroe, Washington, 98272, EIN number 94-3188703.