Naming John Jay as a beneficiary in your will or trust is a wonderful way to support student success. You can take care of family and friends first and donate a specific dollar amount or a percentage of your estate. Simply provide your attorney with our official name and tax identification number.
Specific Bequest
A specific bequest is the most popular type and involves making a gift of a specific asset such as real estate, a vehicle, other property or a gift for a specific dollar amount. If you would like to bequeath property, please click here to let us know. We would be happy to work with you and your attorney to help you identify ways to give and meet your charitable objectives.
If you wish to name John Jay as a beneficiary of a specific dollar amount, please provide the language below to your tax advisor.
General Purpose/Unrestricted Bequest
I hereby give, devise and bequeath [all (or ____ percent) of my residuary estate] or [the sum of $_______ ] to be used for its general purposes to John Jay College Foundation, Inc., a nonprofit organization located at 524 West 59th Street, New York, NY 10019, Federal Tax ID #13-3683676.
Specific Purpose/Restricted Bequest
I hereby give, devise and bequeath [all (or ____ percent) of my residuary estate] or [the sum of $_______ ] to be used for [specific purpose, e.g. Student Success, scholarships, etc.] to John Jay College Foundation, Inc., a nonprofit organization located at 524 West 59th Street, New York, NY 10019, Federal Tax ID #13-3683676. If, in the opinion of the Board of Trustees of the John Jay College Foundation, Inc., the income or principal cannot be used for the express purpose described herein, the organization may use the principal or income for a different but related purpose that best serves the intent of this bequest.
Yes, there are a number of ways you can make a bequest to John Jay College.
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 United Way Worldwide.
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 United Way Worldwide.
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 United Way Worldwide.
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 vacation home, to a relative, but the bequest language could provide that if the relative is not alive at the time of your death, the vacation home will go to United Way Worldwide.
Yes, your gift is revocable and you may change it at any time. If you wish to make your gift irrevocable, you will need to work with your attorney to ensure the proper paperwork is filed.
Yes, you can specify that your bequest be used for a general or specific purpose to give you the peace of mind knowing your gift is being used as intended.