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Yolo Community Foundation



Board of Directors President
Mary Stephens DeWall
Vice President
Jim Rodgers
Secretary
Jamie Madison
Treasurer
Paul Harder
Michael Campbell
Susan Collins
Joan Hogan
Charles Lacy
Nancy Shapiro
Mortimer Schwartz
Amy Wilson
Cath Posehn, Executive Director

Advisors Circle
Sandy Cordoza
Paul and Gail Casson
Alan Dismuke
Richard C. Dorf
Elly Fairclough
Mohini Jain
Mary Kimball
Paul Kolarik
Jim Lapsley
Jose Lopez Rivera
Freddie Oakley
John Pickerel
Lynnel Pollock
Irma Rodriguez
Dave Scheuring
Meg Stallard
Bob Young

Financial Advisors
Mark Sievers, Epsilon Financial Group
Bob Lew, Planning and Financial Advisors



BEQUESTS

If an individual would like to create a charitable fund within the Foundation yet believes that such generosity must be tempered by current financial responsibilities to loved ones, he or she may wish to consider a charitable bequest. The fund will be established upon receipt of the donor's bequest and in accordance with the donor's direction. Bequests also may be made for placement in existing Foundation funds. The following suggested language may be used in the wording of a bequest to the Foundation.

I. UNRESTRICTED BEQUEST
"I give, devise and bequeath (describe assets which are the subject of the bequest such as a stated sum, specific property, a percentage of the estate, or the residue of the estate) to Yolo Community Foundation, a California Not For Profit Corporation of Yolo County. The net income and, in the Foundation's discretion, the principal of this gift shall be devoted to the general purposes of the Foundation."

II. UNRESTRICTED BEQUEST (ENDOWMENT)
In those cases where the donor prefers that the principal of the gift remain intact, the following language may be substituted for the last sentence in the previous example. "The net income only of this gift shall be devoted to the general purpose of the Foundation and the principal shall remain intact."

III. RESTRICTED BEQUEST
"I give, devise and bequeath (describe assets which are the subject of the bequest such as a stated sum, specific property, a percentage of the estate, or the residue of the estate) Yolo Community Foundation, a California Not For Profit Corporation of Yolo County. The net income and, in the Foundation's discretion, the principal of this gift shall be devoted to the support of (a designated agency, institution, field of interest, charitable purpose such as scholarships, or a combination thereof). This gift shall be added to an existing Yolo Community Foundation fund (or specify the name of the fund) which serves (the stated purpose or purposes)."

IV. RESTRICTED BEQUEST (ENDOWMENT)
In those cases where the donor prefers that the principal of the gift remain intact, the following language may be substituted for the last two sentences in the previous example. "The net income only of this gift shall be devoted to the support of (a designated agency, institution, field of interest, charitable purpose such as scholarships, or a combination thereof) and the principal shall remain intact. This gift shall be added to an existing Yolo Community Foundation endowment fund (or specify the name of the endowment fund) which serves (the stated purpose or purposes)."

V. BEQUEST FOR NEW NAMED FUND
If a gift is substantial and contemplates a separate named fund for the donor or some other person, the following language may be used. "I give, devise and bequeath (describe assets which are the subject of the bequest such as a stated sum, specific property, a percentage of the estate, or the residue of the estate) to Yolo Community Foundation, a California Not For Profit Corporation of Yolo County. This gift shall be known as the '_________Fund'. The net income and, in the Foundation's discretion, the principal of this fund shall be devoted to the support of (the general purposes of Yolo Community Foundation, a designated agency, institution, field of interest, charitable purpose such as scholarships, or a combination thereof)."

VI. BEQUEST FOR NEW NAMED FUND (ENDOWMENT)
In those cases where the donor prefers that the principal of the gift remain intact, the following language may be substituted for the last two sentences in the previous example. "This gift shall be known as the '_____Endowment Fund.' The net income only of this fund shall be devoted to the support of (the general purposes of Yolo Community Foundation, a designated agency, institution, field of interest, charitable purpose such as scholarships, or a combination thereof) and the principal shall remain intact."




This language is meant to serve as a general guide for both endowment and pass-thru gifts. Alternate or more specific language may be appropriate in certain cases. Donors are encouraged to consult their legal advisors for professional assistance regarding any proposed bequest to the Foundation.