- Rise
- Waldschmidt 540
- 5000 N Willamette Blvd.
- Portland OR 97203
- 503-943-7395
- webmaster@up.edu
|
|
 |
 |
Bequests
Each year individuals designate a portion of their assets to be used for the benefit and support of the University of Portland. Gifts by bequest are an integral part of the University's development process. These gifts allow those unable to make significant contributions during their lifetimes to do so from their estates, and they allow others to save substantial federal estate taxes and possibly state inheritance taxes.
Bequests can take various forms. Consult with your attorney to determine whether your charitable bequest can be made by drafting a codicil to your existing will or if a new will is needed. The following sample forms are included for your attorney's consideration in preparing your will or codicil.
Outright and unrestricted gifts of a stated amount of money or property:
"I give to the University of Portland, an Oregon nonprofit corporation located at 5000 N Willamette Blvd., Portland, Oregon 97203, the sum of $_____________________ (or a description of the property), to be used in such manner as its Board of Regents determines."
Restricted gifts:
"I give to the University of Portland, an Oregon nonprofit corporation located at 5000 N Willamette Blvd., Portland, Oregon 97203, the sum of $_____________________ (or a description of the property), for the specific purpose of ... (describe the purpose broadly so that the University can fulfill the donor's wishes)."
Gifts to the University's Endowment:
"I give to the University of Portland, an Oregon nonprofit corporation located at 5000 N Willamette Blvd., Portland, Oregon 97203, the sum of $______________________ to be placed into the endowment fund of the University. The bequest is to be invested by the Board of Regents and only the interest earned from the investment of the bequest will be used in such manner as the Board of Regents determines (or for a specific purpose such as a named scholarship)."
A residuary bequest:
"I give to the University of Portland, an Oregon nonprofit corporation located at 5000 N Willamette Blvd., Portland, Oregon 97203, all the residue and remainder of my estate, to be used as its Board of Regents determines (or for a specific purpose)."
Copyright © University of Portland, All rights reserved.
The information on this site is not intended as legal, tax or investment advice.
For such advice, please consult an attorney, tax professional or investment professional.
- Next Steps
- Most Read
