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Bequest Language

Gift Designation

You may choose the area in which you would like your gift to be used. Among other things, gifts may benefit particular schools, scholarships, professorships, internships, the library, athletics or chairs. Since Lipscomb's needs are constantly changing, unrestricted planned gifts, which can be applied wherever the need is greatest within the University, are especially helpful.

Unrestricted Bequests

An unrestricted bequest is one intended for the general and best use by Lipscomb at the discretion of the Board of Trustees. Such a bequest might read:

"I give, devise, and bequeath to Lipscomb University, a not-for-profit corporation located in Nashville, Tennessee, the sum of $_____ (or____% of my trust assets; or all the rest, residue, and remainder of the trust assets). The property comprising this gift may be used to further the charitable purposes of Lipscomb University at the discretion of its trustees.

Restricted Bequests

Donors may restrict the usage of their bequests. A restricted bequest might provide as follows:

"I give, devise, and bequeath to Lipscomb University, a not-for-profit corporation located in Nashville, Tennessee, the sum of $____ (or ____% of my trust assets; or all the rest, residue, and remainder of the trust assets) to be used to establish a permanent endowment fund which shall be known as the ____________ Fund, at Lipscomb. Income from said fund, as determined by applicable University policy, shall [provide scholarships for (state school) students who have demonstrated financial need/ be used for research relevant to (state particular interest)/to establish the ____________ Chair in (state particular interest)]. If, in the opinion of the trustees of the University, the need for funds for the purpose described above no longer exists at some future date, the trustees, or their successors, are authorized to use these funds in the best interest of the University, provided that the identity of the fund is maintained.

Adding to an Endowed Fund

I give, devise, and bequeath to Lipscomb University, a not-for-profit corporation located in Nashville, Tennessee, the sum of $____ (or ____% of my estate; or all the rest, residue, and remainder of my estate/the trust assets) to be added to the endowment of the _____________ Fund.

It is recommended that restricted provisions be described as broadly as possible and that detailed limitations be kept to a minimum. Please consult with the Office of Gift Planning before drafting such provisions to assure that they can be implemented according to your wishes and desires.

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