Bequest Language Example

The following is an example to aid you and your attorney in preparing your bequest to Stewards Foundation for the benefit of the programs of the Foundation.

I give, devise and bequeath to Stewards Foundation, a non-profit organization of churches formed in accordance with the Not-for-Profit Corporation Act of Illinois with Certificate of Authority in the state of Texas, for the purpose of supporting the programs of Stewards Foundation,

          a) the sum of $ __________________; or

          b) _________% of the rest, residue and remainder of my estate.

I elect that the gift be:

          a) established as the _____(donor enters name)_____ Endowment (provided the
              gift is equal to or greater than $50,000); or

          b) established as the _____(donor enters name) _____ Gift (for any amount).

The proceeds of this gift may be merged with other net income of Stewards Foundation for support of the programs of Stewards Foundation, but the gift shall be entered in the Foundation’s books and records as the named Endowment or name Gift as indicated above. 

The gift shall be restricted or unrestricted as indicated below (circle one letter):

          a) Restricted to support the Healthcare Assistance Program; or  

          b) Restricted to support the ___(donor enters need or program)_________ , with
              the prior approval of the Foundation Board of Trustees; or

          c) Unrestricted to support the Healthcare or loan program or other priority need as
              determined by the Foundation Staff under policy direction of the Foundation
              Board of Trustees.     

If you restrict your gift to a specific program or need as indicated by selections a) or b) above, inclusion of the following sentence will ensure that the bequest remains useful.

If, in the judgment of the Foundation Board of Trustees, changed circumstances should render the designated use of this bequest impracticable, unwise or inappropriate, then the Board shall use the bequest to further the purposes of Stewards Foundation giving consideration to my special interest as evidenced by the selection above.