A charitable bequest is a gift of money or property designated in your Will. While your bequest will not generate an immediate tax savings, your estate will gain a significant tax credit.
Sample bequest language might include the following:
We/I give to the Bishop's University Foundation, 2600 College, Sherbrooke QC J1M 1Z7, the sum of X (or percentage/residue, remainder of assets) to establish a permanent trust fund, managed as part of the Foundation's overall endowment fund, to be known as the (name) Trust Fund. Income from said fund shall be used to fund the (name) Scholarship (or Bursary, opportunity fund, etc.) to support the recruitment and retention of students to Bishop's University in (name of department, School or Division, if applicable).
In 2003 the University received the largest bequest gift in our history - $4.3 million - from Florence May Foreman, a friend of Bishop's. An endowment was established, providing funding in perpetuity for student scholarships, the University art gallery (now the Foreman Art Gallery), and research.
Please contact the University Advancement Office to discuss your bequest planning. If you have already made provisions in your Will for Bishop's University – thank you! Please advise the University Advancement Office of your plans so that we may thank you today for your gift of tomorrow.
