Bequest
(Sample language)

• Unrestricted Gift: A gift that can be used where need is greatest

  I give to Pomona College, a California nonprofit 501(c)(3) corporation, located in Claremont, CA the sum of $_______* (or property described herein) to be used for its general educational purposes as the Board of Trustees, in its sole discretion, may deem advisable for the best interests of the College.

• Unrestircted Memorial Fund (Residual provision):

  I give to Pomona College, a California nonprofit corporation located in Claremont, California, the rest and residue of my estate, to be known and designated as "The ______________ Memorial Fund." The income therefrom shall be used for general educational purposes as the Board of Trustees, in its sole discretion, may deem advisable for the best interests of the College. The said Board of Trustees shall have the right to expend the whole or any part of the principal of said sum in the erection of a building or in connection with some definite project or purpose, provided there is thereby established a suitable memorial in the name of _______________.

• Restricted Memorial Fund (Residual provision):

  I give to Pomona College, a California nonprofit corporation located in Claremont, California, the rest and residue of my estate. The income therefrom shall be used for (description of primary purpose, such as student scholarships, an endowed professorship, maintenance of a laboratory or other purpose). If it is found that all or part of the income from this fund is no longer needed for the purpose stated, then such gift may be used for such other purposes as the Board of Trustees, in its sole discretion, may deem advisable for the best interests of the College, giving consideration to my special interest as described above. This gift shall be known as "The _______________ Memorial Fund."

• Residuary Bequest: Leaves any remainder after all other bequests have been paid

  All the rest, residue, and remainder of my estate, both real and personal, I give to Pomona College, a California nonprofit 501(c)(3) corporation, located in Claremont, CA for its general educational purposes.

• Contingency Gift: Takes effect only if a primary intention can’t be met.

  If (name of beneficiary) does not survive me, or shall die during the administration of my estate, or as a result of a common disaster, then I give to Pomona College, a California nonprofit 501(c)(3) corporation, located in Claremont, CA all of the rest, residue, and remainder of my estate, to be used for its general educational purposes.

• Safety Language: Language added whenever a gift is restricted

  In the event the purposes of the restriction, in the opinion of the Board of Directors of Pomona College 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.

• Gifts of Retirement Assets

  You may give the College the assets remaining in your qualified retirement plan upon your death. Retirement plans include IRAs, profit-sharing plans, 401(k) plans, Keogh plans, 403(b) accounts, SEPs and other plans. You need to designate the College on a beneficiary designation form that you can obtain from your plan administrator. The designation may be: "Pomona College, a California nonprofit corporation located in Claremont, California." You will want to designate the percentage of the assets that you wish to give to the College.

• Testamentary Life-Income Agreement

  You may make gifts to loved ones on your death through a charitable life-income agreement. Your beneficiaries will receive income for their lifetimes, and the College will receive the remaining funds upon their deaths. Gifts may be made through a charitable gift annuity or a life interest in a charitable remainder unitrust or a pooled income fund. Please call us to discuss which agreement best suits your needs. We will provide you with the appropriate language for the trust or agreement to include in your Will or revocable trust.

Rather than leaving a sum certain, you can include language that refers to a percentage of your estate or a description of the property you wish to give.

Pomona College
Trusts and Estates
550 North College Ave
Alexander Hall 235
Claremont, CA 91711
(909) 621-8143 or (800) 761-9899
Fax: (909) 621-8654
pomonaplan@pomona.edu