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Bequest Under a Will or Trust

Many donors who have been philanthropic in their lifetimes are interested in continuing their giving after they are gone. An easy and simple way to support the issues and communities you care about is by bequeathing all or a portion of your estate to the Foundation through your will.  Your bequest will allow you to make an impact in perpetuity.  Working with your attorney, you can add simple bequest language to your will to support either CACF’s unrestricted fund or a named component fund within the Foundation.  The Foundation’s unrestricted fund, the Community Endowment, responds to the ever-changing needs in the CACF service area by awarding grants to nonprofits working to improve the quality of life in the city of Charlottesville and the counties of Albemarle, Buckingham, Fluvanna, Greene, Louisa, Nelson and Orange. 

Your will can also designate that all or a portion of your estate establish a component fund or flow into an existing component fund from which grants will be made in perpetuity to support the causes and organizations that you care about most.
Sample Bequest Language to Establish a Component Fund can be found here.
If you would like more information on the details of planned giving though a bequest, please call us.

Related: Bequest

Arline T. Kennan was born November 16, 1894 in Charlottesville, Virginia. Friends and relatives say that throughout her life she was more interested in doing for others than for herself. One person quite familiar with her spending habits said that Mrs. Kennan was very generous but notably frugal with her living expenses, tight with her money for her own use but always giving it away to charities. For example, she paid the tuition for several students at Fork Union Military Academy and at Miller School in Crozet, and gave pianos to several churches as well as furnishings to a home for the aged. Just a few of her generous acts. When Mrs. Kennan died in 1986, she bequeathed $1.1 million to CACF, continuing her lifelong service to this community. Her gift raised the endowment of the fund from $300,000 to $1.4 million, and enabled the Foundation to increase its annual grant-awards to between $60,000 and $100,000 – truly, a perpetual gift that keeps on giving.
Sample Bequest Language to Add to an Existing Component Fund
[I give, bequeath, and devise __%, or $_____, or the rest and residue of my estate to] the Charlottesville Area Community Foundation, a Virginia non-stock corporation authorized by its charter and bylaws to accept, hold and administer charitable funds, to be contributed to the ________________ (the name of the component fund) of the Charlottesville Area Community Foundation and to be administered pursuant to a fund agreement on file with such organization.

Please use the following information for the foundation: Charlottesville Area Community Foundation, P.O. Box 1767, Charlottesville, VA 22902, (434) 296-1024, EIN: 54-1506312