The examples shown below are merely suggestions as to content and should be rewritten or adapted by legal counsel to satisfy the donor’s individual situation. The Occidental College Board of Trustees policy on the minimum amounts required to establish a named endowment fund is available upon request. 

SUGGESTED LANGUAGE FOR GENERAL BEQUEST PROVISIONS

A bequest provision in your will can be designated for the general educational purposes of the College and can be written as follows: 

I give to Occidental College, a non-profit public benefit corporation located at Los Angeles, California, _________________ (insert here: a dollar amount; percentage [%] of estate, or a description of the property you intend to bequeath) for its general educational purposes.*

* Gifts can also be designated for current year scholarships, academic programs, library purposes, etc. These types of bequests are fully expendable by the College upon receipt.

SUGGESTED LANGUAGE FOR ENDOWMENT BEQUESTS

Endowed funds last in perpetuity. In accordance with the College’s endowment spending policy, only a portion of the funds is expended each year. Annual spending is generally less than the fund’s growth so that the annual income available for expenditure from an endowment fund can increase over time. If you intend to leave a bequest provision greater than $50,000, the current minimum level to fund a separately named endowment fund, you may find the endowed bequest language listed below helpful.

Some donors may wish to support the endowment purposes listed below but find themselves unable to make gifts at the established minimum levels. In such cases, gifts may be made to pooled endowment or general endowment funds established for each of the purposes listed below.

NAMED ACADEMIC ENDOWMENTS

Named New Endowed Professorship
Named Endowed Professorship
Named Endowed Visiting Scholar Fund
Named Endowed Lectureship
Named Endowed Teaching and Research Fund

NAMED FACILITY AND PLANT ENDOWMENTS

Named Endowed Campus Enhancement Fund
Named Endowed Faculty Housing Fund
Named Endowed Equipment Fund

NAMED SCHOLARSHIP ENDOWMENTS

Named Endowed Full Tuition, Room, and Board Scholarship Fund
Named Endowed Full Tuition Scholarship
Named Endowed Scholarship Fund
Named Permanent Student Loan Fund

OTHER NAMED ENDOWED FUNDS

Named Endowed President’s Discretionary Fund
Named Endowed Library Funds

Occidental College’s Legal Entity is: 

OCCIDENTAL COLLEGE,
A California non-profit public benefit corporation, located at Los Angeles, California   

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This information is provided with the understanding that Occidental College is not engaged in rendering legal, accounting, or other professional advice and assumes no liability whatsoever in connection with its use.  Because tax laws are constantly changing and are subject to differing interpretations, we urge you to consult your tax and financial advisors before acting on the information contained herein.

 

Last updated:01/23/08