Bequests


A bequest is one of the simplest ways to support the Dialogue Institute.

How it works:

  • You can provide now for a future gift to the Dialogue Institute by including a bequest provision in your will or revocable trust
  • The Dialogue Institute receives the gift, and applies it to the purpose(s) you specified.

Benefits:

  • Your assets remain in your control during your lifetime.
  • You can modify your bequest if your circumstances change.
  • You can direct your bequest for a general or particular purpose (be sure to check to make sure your gift can be used as intended*).
  • You can provide for a specific dollar gift, a percentage of an estate, or specific asset(s) to be given to the Dialogue Institute in support of its various programs.
  • Bequests are exempt from federal estate taxes
  • There is no upper limit on the estate tax deductions that can be taken for charitable bequests; if you have a taxable estate, the estate tax charitable deduction may offset or eliminate estate taxes, resulting in a larger inheritance for your heirs.
  • You know that your gift will benefit the Dialogue Institute tomorrow just as you intend it to today.

There are a number of ways you can make a bequest:

  • Specific Bequest. A specific 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 Dialogue Institute.
  • 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 the Dialogue Institute.
  • 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 the Dialogue Institute.
  • 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 the contents of a bank account, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the designated bank account will go to the Dialogue Institute.

Sample bequest of remainder of estate:

"I give, devise, and bequeath to the Dialogue Institute, Federal Tax ID Number 23-2715057, located at Temple University (062-56), 1700 N. Broad Street, Suite 315, Philadelphia, PA 19121, all (or state fraction or percentage) of the rest, residue, and remainder of my estate, both real and personal) to be used for general purposes."

Sample bequest of specific amount:

"I give, devise, and bequeath $__________ to the Dialogue Institute, Federal Tax ID Number 23-2715057, located at Temple University (062-56), 1700 N. Broad Street, Suite 315, Philadelphia, PA 19121, to be used for general purposes."

PLEASE NOTE: These are merely suggestions as to content and should be written or adapted by legal counsel to fit your individual needs. If you have any questions, please contact Tim Emmett-Rardin, Director of Marketing & Development, at 215.204.7570 or ter@dialogueinstitute.org.


* If you are making a restricted bequest, we recommend that your attorney include the following provision to give the Dialogue Institute flexibility should it no longer be possible for the Dialogue Institute to use your gift as you originally intended - either because the nonprofit has ceased operation or for some other unforeseen event:

If, in the judgment of the Board of Directors of the Dialogue Institute, it shall become impossible for the Dialogue Institute to use this bequest to accomplish the specific purposes of this bequest, the Dialogue Institute 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.