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Fresno State's Bequest Language

Fresno State students walking through campus surrounded by autumn colored trees

An excellent way for you to support Fresno State's mission is to leave us a bequest in your will, living trust or with a codicil. One significant benefit of making a gift by bequest is that it allows you to continue to use the property you will leave to charity during your life. Another benefit is that you are able to leave a lasting legacy.

Types of Bequests

There are a number of ways you can make a bequest to Fresno State.

Bequest. A bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to the Fresno State Foundation.

Percentage Bequest. Another kind of specific bequest involves leaving a specific percentage of your overall estate to charity. For example, you may wish to leave 10% of your estate to Fresno State.

Residual Bequest. A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to charity. For example, you may wish to leave 30% of the residue of your estate to Fresno State.

Contingent Bequest. A contingent bequest is made to charity only if the purpose of the primary bequest cannot be met. For example, you could leave specific property, such as a vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to Fresno State.

Real Estate. Gifts of real property may be outright or part of a bequest or a charitable trust. Such gifts are subject to prior review to make sure that the property is a marketable asset. Gifts of real property should be free of mortgages or other encumbrances, or can be coupled with a life insurance policy to pay off the mortgage as part of the charitable gift.

Stocks/Securities. Other than cash, securities (stock shares, mutual fund shares, bonds) are a very popular way to fund charitable gifts to Fresno State. Publicly traded securities are usually very marketable, have a clear value, and are easily transferred. Tax laws heavily favor gifts of assets that have increased in value.

Bequest Benefits

The best thing about making a gift to the University is that you, as the donor, get to choose what legacy you leave. By leaving a bequest, you are positively impacting our students for generations to come, while lessening the burden of taxes on your family. On top of that, you may receive estate tax savings for your charitable gift.

Bequest Language

In order to make a bequest, you should speak with your attorney. Your attorney can help you include a bequest to Fresno State in your estate plan. We have provided some basic bequest language to assist you and your attorney.

1. Bequest

Bequests are legacies that come from the general value of your estate. They can come in the form of a cash gift, or even a percentage of your estate. Such a bequest allows you to leave a gift to your chosen recipient in the clearest and simplest way.

Bequest of a Specific Dollar Amount

I hereby give, devise and bequeath _________ and No/100 dollars ($DOLLARS) to the California State University, Fresno Foundation, a nonprofit organization located at 5244 North Jackson Avenue, Fresno, CA, 93740-8023, Federal Tax ID #94-6003272, for Fresno State's general use and purpose.

Bequest of Specific Personal Property

I hereby give, devise and bequeath [DESCRIPTION OF PROPERTY] to the California State University, Fresno Foundation, a nonprofit organization located at 5244 North Jackson Avenue, Fresno, CA, 93740-8023, Federal Tax ID #94-6003272, for Fresno State's general use and purpose.

Bequest of Specific Real Estate

I hereby give, devise and bequeath all of the right, title and interest in and to the real estate located at ADDRESS OR DESCRIPTION OF PROPERTY to the California State University, Fresno Foundation, a nonprofit organization located at 5244 North Jackson Avenue, Fresno, CA, 93740-8023, Federal Tax ID #94-6003272, for Fresno State's general use and purpose.

2. Percentage Bequest

If you are considering making a bequest of a percentage of your estate to Fresno State, we recommend the following language:

I hereby give, devise and bequeath ____ percent (___%) of my total estate, determined as of the date of my death, to Fresno State, a nonprofit organization located at 5244 North Jackson Avenue, Fresno, CA, 93740-8023, Federal Tax ID #94-6003272, for Fresno State's general use and purpose.

3. Residual Bequest
Residuary Bequests are made when you intend to leave the residue portion of your estate to an individual or organization after all other bequests have been made, and all other expenses have been paid.

I hereby give, devise and bequeath to the California State University, Fresno Foundation, a nonprofit organization located at 5244 North Jackson Avenue, Fresno, CA, 93740-8023, Federal Tax ID #94-6003272, [ALL OR A PERCENTAGE] of the rest, residue and remainder of my estate to be used for Fresno State's general use and purpose.

4. Contingent Bequest

If (primary beneficiary) does not survive me, then I hereby give, devise and bequeath to the California State University, Fresno Foundation, a nonprofit organization located at 5244 North Jackson Avenue, Fresno, CA, 93740-8023, Federal Tax ID #94-6003272, [DESCRIPTION OF PROPERTY] to be used for Fresno State's general use and purpose.

YOUR LEGACY, YOUR WAY

If you are considering a bequest but would like to ensure that your bequest will be used for a specific purpose, please let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives. We will also work with you and your attorney to craft language to accomplish your goals.

If you are naming a specific area on campus, we recommend that your attorney include the following provision to give Fresno State flexibility should it no longer be possible for the University to use your gift as you originally intended:

"If, in the judgment of the Board of Directors of Fresno State, it shall become impossible for Fresno State to use this bequest to accomplish the specific purposes of this bequest, Fresno State may use the income and principal of this gift for such purpose or purposes as the Board determines is most closely related to the restricted purpose of my bequest."

HOW DO I PROPERLY LIST FRESNO STATE AS A BENEFICIARY?

All gifts to Fresno State are directed to the "California State University, Fresno Foundation, IRS # 94-6003272." The Foundation is a tax exempt 501(c)(3) nonprofit charitable organization created with the mission to accept and manage all private donations intended for the benefit of Fresno State. It is best to note our IRS Federal Identification Number as a part of your bequest to Fresno State to prevent the misdirection of your gift. Copies of our IRS exemption letter are available upon request.

SEEK ADVICE


Planning your estate can sometimes get complicated. Even simple estate plans can have severe tax and other legal consequences. As you review these pages, please remember that there are always exceptions to every rule. We encourage you to seek guidance from a qualified licensed professional such as an attorney or certified public accountant to be certain that your desires are fulfilled without any unwelcome surprises.

For more information, please contact:
Liz Garvin, CGPP
Director of Planned Giving
5244 North Jackson Ave., M/S KC45
Fresno, CA 93740-8023
559.278.4038
egarvin@csufresno.edu
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