Sample Language to Establish/Add to a Fund (By Will or Trust) at Kern Community Foundation
I. NEW CHARITABLE BEQUESTS
A. Use the following language to create a fund:
I give [describe gift] to Kern Community Foundation ("Foundation"), a California nonprofit public benefit corporation having its principal office in the City of Bakersfield and State of California to be held as a component fund of the Foundation and used for the charitable purposes of the Foundation. The fund shall be known as the ______________________________________________________ Fund (the "Fund"). (Insert statement of purpose - see the following item B for suggestions)
B. Statement for the purpose of the fund. Choose one from the following list:
OPTION I (Designated Fund): The purpose of the Fund is to provide funds for [enter name of nonprofit organization, or if more than one, their names and shares].
OPTION II (Field of Interest Fund): The purpose of the Fund is to provide funds for recipients, to be selected by the Board of Directors of the Foundation, that are [state field of interest and/or area of service to be benefited; e.g. healthcare, human services, the cultural arts, education or the environment].
OPTION III (Unrestricted Charitable Fund): The purpose of the Fund is to provide funds for such worthy charitable purposes as the Board of Directors shall from time to time determine.
II. ADD TO AN EXISTING FUND:
I give [describe gift] to Kern Community Foundation ("Foundation") a California nonprofit public benefit corporation having its principal office in the City of Bakersfield and State of California to be added to the
______________________________________________________ Fund (the "Fund"), a component fund of the Foundation, and used for the charitable purposes of the Foundation.
III. SAMPLE DESCRIPTION OF GIFTS
A. Specific Dollar Amount (i.e. - $25,000)
B. Specific Asset (i.e. - 100 shares of IBM stock)
C. Percentage of Estate (i.e. - 5% of the residue of my estate)
A. Use the following language to create a fund:
I give [describe gift] to Kern Community Foundation ("Foundation"), a California nonprofit public benefit corporation having its principal office in the City of Bakersfield and State of California to be held as a component fund of the Foundation and used for the charitable purposes of the Foundation. The fund shall be known as the ______________________________________________________ Fund (the "Fund"). (Insert statement of purpose - see the following item B for suggestions)
B. Statement for the purpose of the fund. Choose one from the following list:
OPTION I (Designated Fund): The purpose of the Fund is to provide funds for [enter name of nonprofit organization, or if more than one, their names and shares].
OPTION II (Field of Interest Fund): The purpose of the Fund is to provide funds for recipients, to be selected by the Board of Directors of the Foundation, that are [state field of interest and/or area of service to be benefited; e.g. healthcare, human services, the cultural arts, education or the environment].
OPTION III (Unrestricted Charitable Fund): The purpose of the Fund is to provide funds for such worthy charitable purposes as the Board of Directors shall from time to time determine.
II. ADD TO AN EXISTING FUND:
I give [describe gift] to Kern Community Foundation ("Foundation") a California nonprofit public benefit corporation having its principal office in the City of Bakersfield and State of California to be added to the
______________________________________________________ Fund (the "Fund"), a component fund of the Foundation, and used for the charitable purposes of the Foundation.
III. SAMPLE DESCRIPTION OF GIFTS
A. Specific Dollar Amount (i.e. - $25,000)
B. Specific Asset (i.e. - 100 shares of IBM stock)
C. Percentage of Estate (i.e. - 5% of the residue of my estate)
