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IEEE Foundation

Will or Trust Provision
Be Forever Generous

image will and testamentA provision in a will or living trust is the most common way to a make planned gift to the IEEE Foundation. There are different kinds of bequests to choose from depending on your financial objectives.

Specific bequest. Designate a dollar amount or percentage to the IEEE Foundation (or a specific IEEE Organizational Unit, program or project).

Residuary bequest. After all other specific bequests, debts, taxes and expenses have been paid, designate the IEEE Foundation to receive all or a stated percentage of the "rest, residue and remainder" of your estate.

Contingent bequest. Request that the IEEE Foundation receive all or a part of your estate, if certain circumstances were to occur, such as all other named beneficiaries pre-decease you.

When deciding how to structure your bequest, it is important to consider how you would like your gift to benefit the IEEE Foundation.

    • Unrestricted Bequest allows the IEEE Foundation to direct the bequest to the areas of greatest need. An unrestricted bequest would read:

      "I give the sum of $______ [or all (or stated percentage) of the rest, residue, and remainder of my estate] to the IEEE Foundation, Incorporated, a corporation organized under the laws of the State of New York, with business address of 445 Hoes Lane, Piscataway, NJ 08854-4141, USA."
    • Restricted Bequest allows you to specify how the bequest will be used. You may wish to designate a specific IEEE Organizational Unit or program. A restricted bequest would read as follows:

      "I give the sum of $______ [or all (or stated percentage) of the rest, residue, and remainder of my estate] to the IEEE Foundation, Incorporated, a corporation organized under the laws of the State of New York, with business address of 445 Hoes Lane, Piscataway, NJ 08854-4141, USA to be used for the (name of the IEEE Organizational Unit, program or project). In the event that such use shall, in the reasonable judgment of the IEEE Foundation's Board of Directors, become impossible, illegal or impracticable to fullfill, then for such similar purposes as the Board of Directors in their discretion shall determine."

    • Endowment Bequest restricts the principal of your bequest, requiring the IEEE Foundation to hold the funds permanently and use only the investment income. Creating an endowment in this manner means that your gift will continue indefinitely. To establish an endowment fund, the terms of your will or living trust might read (Note - The IEEE Foundation requires a minimum US$1,000,000 gift to establish an endowment fund):

      "I give the sum of $______ [or all (or stated percentage) of the rest, residue, and remainder of my estate] to the IEEE Foundation, Incorporated, acorporation organized under the laws of the State of New York, with business address of 445 Hoes Lane, Piscataway, NJ 08854, U.S.A. to establish anendowment fund, the principal of which shall be invested as the IEEE Foundation Board of Directors may deem best and the income only used for (if you wish - named program or project). In the event that such use shall, in the reasonable judgment of the IEEE Foundation's Board of Directors, become impossible, illegal or impracticable to fullfill, then for such similar purposes as the Board of Directors in their discretion shall determine."

Bequest language can be modified by your attorney to make it consistent with your specifications and the rest of the language in your will/trust.
Printable sample bequest language (PDF 43.69KB)

 

If you decide leave a bequest to the IEEE Foundation in your will or living trust, we hope you will share the good news with us. We can work with you to ensure your wishes can be fulfilled and acknowledge your generosity by inviting you to join IEEE Goldsmith Legacy League, the IEEE Foundation's planned giving recognition group. You may request to remain anonymous.

Legal Name
IEEE Foundation, Incorporated

Employer Identification Number (EIN):
23-7310664

For more information, or to hold a confidential discussion, please contact:

Karen Galuchie
Director, IEEE Foundation Operations

IEEE Foundation
445 Hoes Lane
Piscataway, NJ 08854-4141, USA
Phone: +1 732 562 3860
e-mail: donate@ieee.org

 

The information on this site is for educational purposes only and is not intended as legal, tax or investment advice. If you are considering a planned gift to the IEEE Foundation, we highly recommend you consult with your own tax and legal advisors to determine the best options for you.

IEEE Foundation

IEEE Development Office
445 Hoes Lane
Piscataway, NJ 08854, U.S.A.
Phone: +1 732 562 5550
Email: donate@ieee.org

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