Leave Your Legacy

For simple legal verbiage pertaining to endowment, see bottom of this page

Art Barn Legacy Connection - Planned Giving form
Street, City, State, Zip
Please select all that apply

Legal Language for wills  –   Art Barn School of Art, Inc.

 

  • Specific Bequest: I give, devise and bequeath _______________ (insert dollar amount or item of property to be donated) to the Art Barn School of Art Inc., or its successor organization, a nonprofit corporation as described in section 170 (c) of the Internal Revenue Code with headquarters located at 695 N 400 E, Valparaiso, IN 46383, to be used for (i.e. art classes, the purchase of equipment and materials, future expansion, at the discretion of the board of directors, etc.)

 

  • Residuary Bequest: I give, devise and bequeath _______________ (insert % amount) of all the rest, residue and remainder of my estate to the Art Barn School of Art Inc., or its successor organization, a nonprofit corporation as described in section 170 (c) of the Internal Revenue Code, with headquarters located at 695 N 400 E, Valparaiso, IN 46383, to be used for (i.e. art classes, the purchase of equipment and materials, future expansion, at the discretion of the board of directors, etc.)

 

  • Restricted Gift (Specific or Residuary) Bequest: I give, devise and bequeath _______________ (insert dollar amount, item of property or % of residue) to the Art Barn School of Art Inc., or its successor organization, a nonprofit corporation as described in section 170 (c) of the Internal Revenue Code, with national headquarters located at 695 N 400 E, Valparaiso, IN 46383, to be used exclusively [insert restricted use language here – such as in the State of XYZ, for research, for children’s programs, ect.].

 

  • Contingency Gift: Takes effect only if a primary intention can’t be met.

    If (name of beneficiary) does not survive me, or shall die during the administration of my estate, or as a result of a common disaster, then I give to the Art Barn School of Art Inc., or its successor organization, a non-profit corporation as described in section 170(c) of the Internal Revenue Code, with headquarters located at 695 N 400 E, Valparaiso, IN 46383, all of the rest, residue, and remainder of my estate, to be used for its benefit.

 

  • Safety Language: Language added whenever a gift is restricted
    In the event the purposes of the restriction, in the opinion of the Board of Directors of can no longer be served, the Board may devote any remaining assets exclusively for charitable purposes that: (a) are within the scope of the charitable purposes of charity (b) most nearly approximate the original purpose of the gift; and (c) benefits charity.