Bequests—a bequest is a gift of cash, property, or other asset made in a donor’s will or living trust. Bequests may provide for a specific dollar amount in cash, specific securities, specific articles of tangible property, or a percentage of the residual of the estate. Donors and supporters of the Pennington Biomedical Research Foundation are encouraged to make bequests to the Foundation in their wills and trusts.
The donors and supporters are advised to name the legal entity, the Pennington Biomedical Research Foundation in order to clearly indicate the intent of their bequest for the Foundation. Bequests may be given as unrestricted gifts or gifts restricted to a purpose or program.
SAMPLE LANGUAGE FOR INCLUDING A BEQUEST TO PENNINGTON BIOMEDICAL RESEARCH FOUNDATION
I give, devise, and bequeath to the Pennington Biomedical Research Foundation, including its successors and assigns, a 501(c)(3) qualified charitable organization whose role includes the acceptance, management, and disbursement of funds in support of Pennington Biomedical Research Center located in Baton Rouge, Louisiana, [insert either: (a) the sum of $_________________; or (b) _________% of my estate; or (c) the rest, residue, and remainder of my estate.]
This gift should be used [insert either: (a) at the discretion of the Board of Directors of the Pennington Biomedical Research Foundation; or (b) in connection with the (Name of particular area of research).
In the event that one or more of the programs that are the intended beneficiary of this gift should cease to be conducted by the Pennington Biomedical Research Center, the Pennington Biomedical Research Foundation shall have the discretion to determine an appropriate alternative use or uses of the funds after considering my original intent and the needs of the Pennington Biomedical Research Center.
Pennington Biomedical Research Foundation
Attention: Vice President/Chief Administrative & Financial Officer
6400 Perkins Rd., Baton Rouge, Louisiana 70808