Leaving a Bequest
Leaving a bequest to Pres House in your will has the potential for impact that multiplies many times over and leaves a lasting legacy in the lives of students at UW-Madison for many years to come. Each year donors just like you make gifts in their will for Pres House and these gifts have made a major impact on the lives of students at Pres House.
How your legacy gift helps
Carol Ann Ryder was a student at Pres House in the late 1950s. After leaving Pres House she went on to become a professor of Zoology. She always had a fondness for Pres House, UW Madison, and the students we serve. In 2016 Carol Ann left a portion of her estate to Pres House in her will. This funding helps students attend our annual fall retreat and other programs where they experience the grace of Jesus Christ and grow in their faith.
How it works
A variety of different planned giving options exist including charitable gift annuities, charitable remainder trusts, and more. One of the simplest ways to leave a legacy is to name Pres House in your will, or as a beneficiary on a life insurance policy or investment account. Usually all that is needed to leave a legacy gift is a few sentences in your will.
You can leave a share of your assets in your will. One option is to leave a percentage of what is left of your estate or assets after other gifts (and debts) have been paid—known as a “residual gift.” If you have already made a will but want to add a residual gift to Pres House your attorney can help you do this without affecting the gifts you leave your loved ones.
You can leave a fixed sum of money. You may wish to leave Pres House a stated sum of money. This type of gift is known as a “specific gift.” It doesn’t have to be a large amount to be helpful—every dollar makes a difference.
You can designate the gift for a specific purpose or leave it for Pres House to determine its best use. You can also request the original gift value be retained in perpetuity (as much as market value allows) or leave the timeline of spending to Pres House’s discretion. Please contact Pres House in advance if you have a very specific purpose or other limits in mind so we can advise on the suitability of any potential restrictions.
You can name the Presbyterian Student Center Foundation as a beneficiary on a life insurance policy or investment account.
Here is some information that may be helpful:
- Our legal name is Presbyterian Student Center Foundation
- Our Federal Tax ID# is 39-0808440
- Our address is 731 State St., Madison, WI 53703
- Our suggested wording for a residual gift: “I give, devise, and bequeath to Presbyterian Student Center Foundation, Madison, Wisconsin, a nonprofit corporation, Federal Tax ID #39-0808440, all the rest, residue, and remainder of my estate, of whatever kind and wherever situated, which I may own or have the right to dispose of at the time of my death, for such use and purpose as the Board of Directors may determine in their absolute discretion.”
- Our suggested wording for a specific gift: “I give and bequeath to the Presbyterian Student Center Foundation, Madison, Wisconsin., a nonprofit corporation, Federal Tax ID #39-0808440, the sum of $____, for such use and purpose as the Board of Directors may determine in their absolute discretion.”
If you have questions about what type of gift will work best for you, please contact us. We will be happy to work with you and your family to help you meet your goals.
Note: This information is distributed with the understanding that the Presbyterian Student Center Foundation is not rendering legal or other professional advice. Preparation of an estate plan document should be done with the assistance of a competent legal adviser.