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Charitable Bequests and the Legacy Society

You can ensure that your commitment to the community continues with a bequest to the Princeton Area Community Foundation through your will or trust.

Bequests are the most frequent type of planned gift made to charity. Your estate receives a charitable deduction for the full amount given, so your heirs pay no estate tax on the gift. The Community Foundation encourages this type of gift and sample language is provided below.

When you include a bequest provision in your estate plan, the Community Foundation  will enroll you in our Legacy Society (form available here), which honors those who make lasting gifts to the community and serve as role models for others.

You may direct your bequest to the Princeton Area Community Foundation by naming an Operating or Community Investment fund, which will benefit our work in the community, including our community grant making programs. Or you may choose to use the bequest to set up other named funds, such as Donor-Advised, Designated, Scholarship, or Field-of-Interest funds. If you have an existing fund at the Community Foundation , the bequest may be directed to it.

Sample Language for a Charitable Bequest (Click here to download bequest language)

The following four types of bequests direct your gift to the Princeton Area Community Foundation.

Percentage:
”I give, devise and bequeath to Princeton Area Community Foundation, a nonprofit corporation of the State of New Jersey, located at 15 Princess Road, Lawrenceville, NJ 08648, ____% of my estate.”

Specific:
"I give, devise and bequeath to Princeton Area Community Foundation, a nonprofit corporation of the State of New Jersey, located at 15 Princess Road, Lawrenceville, NJ 08648,
(Choose one)
1) The sum of $___________."
2) __________ shares of stock in ________________Company.", or
3) my real property commonly known as _________________."

Residual:
"I give, devise and bequeath to Princeton Area Community Foundation, a nonprofit corporation of the State of New Jersey, located at 15 Princess Road, Lawrenceville, NJ 08648, all the residue of my estate, including real personal property."

Contingent:
"In the event of the death of any of the beneficiaries, I give, devise and bequeath to Princeton Area Community Foundation, a nonprofit corporation of the State of New Jersey, located at 15 Princess Road, Lawrenceville, NJ 08648, (percentage, specific, or residual language as above)."

You may also use the bequest to set up a named fund, using language outlined below. Please contact the Foundation as there is additional information required by us to set up one of these funds that could affect the language you use in your will or trust.

Community Foundation Operating / Future Fund: (to provide support of the Community Foundation’s work in Greater Mercer County)
“to establish the (choose name) operating / future fund”

Community Investment Fund: (to provide support of the Community Foundation’s community grant making in Greater Mercer County)
“to establish the (choose name) fund for community investment.”

Donor-Advised Fund: (to establish a new, or add to an existing, donor advised fund)
"to establish the (choose name) donor-advised fund."

Scholarship Fund: (to establish a new, or add to an existing, scholarship fund)
"for (name of education initiative at the Community Foundation)" or "to establish the (choose name) scholarship fund."

Field-of-Interest Fund: (to establish a new, or add to an existing, fund with programmatic and/or geographic parameters.)
"to establish the (choose name) fund for (describe field- of-interest as programmatic, geographic or combination of both)."

Designated Funds: (to provide support to a specific organization)
"to establish the (name of specific organization) designated fund."

If you have an existing fund at the Community Foundation, place the fund's name in the examples above.

Princeton Area Community Foundation
15 Princess Road, Lawrenceville, NJ 08648 tel: 609.219.1800 fax: 609.219.1850

info@pacf.org

Nancy W. Kieling, President and Executive Director