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Forever Telluride
Ensure that your commitment to the community continues with a bequest to the Telluride Foundation through your will or trust.
Individuals and families who are committed to creating a stronger Telluride community and sustaining it for future generations work through a planned gift or bequest to the Telluride Foundation to continue giving back, forever. (Your gift can benefit our local community, as well as other communities that matter to you, such as your childhood hometown.)
Bequests are the most frequent type of planned gift made to charity. Your estate receives a charitable deduction for the full amount given, so your heirs pay no estate tax. Sample language is provided below.
You may direct your bequest to the Telluride Foundation which will benefit our work in the community, including our community grantmaking. Or you may choose to use the bequest to establish a named fund, such as donor advised, designated or field of interest fund.
If you have a favorite nonprofit organization (or a couple of favorites) you can create a Designated Endowed Fund to benefit a specific organization in perpetuity. With this type of gift, you have confidence that your lasting legacy will be a permanent endowment for your chosen nonprofit(s), or, should that agency cease to exist, that the funds would be re-directed to a similar purpose.
We all leave our assets behind, but nearly 60 percent of us do so without knowing to whom. If you die without a will, the State of Colorado decides who receives how much of what you leave behind - you forfeit the right to decide how your property will be distributed. Your will ensures that you make those important decisions that will impact the people, places and things you care about most.
Things to consider
Only 42% of Americans die with a will.
Only 8% of Americans include charitable bequests in their wills.
In 1996, 81% of the wealthiest individuals in our country (estates of $600,000 or more) left nothing to nonprofit organizations in their wills.
It can be simple to create a will and to leave a legacy by contributing to an organization that means a great deal to you.
In many cases, there are tax advantages to adding a bequest to your will.
Sample Language for a Charitable Bequest
The following four types of bequests direct your gift to The Telluride Foundation. You may restrict the bequest using additional language. Please discuss everything with your financial or tax advisor. You may also want to include the Telluride Foundation's Federal Tax ID number which is: 84-1530768.
Percentage
"I give, devise and bequeath to The Telluride Foundation, a nonprofit corporation of the State of Colorado, located at 220 E. Colorado Ave., Suite 106, PO Box 4222, Telluride, CO 81435, ____% of my estate."
Specific
"I give, devise and bequeath to The Telluride Foundation, a nonprofit corporation of the State of Colorado, located at 220 E. Colorado Ave., Suite 106, PO Box 4222, Telluride, CO 81435,
Choose one
"I give, devise and bequeath to The Telluride Foundation, a nonprofit corporation of the State of Colorado, located at 220 E. Colorado Ave., Suite 106, PO Box 4222, Telluride, CO 81435, all the residue of my estate, including real personal property."
Contingent
"In the event of the death of any of the beneficiaries, I give, devise and bequeath to The Telluride Foundation, a nonprofit corporation of the State of Colorado, located at 220 E. Colorado Ave., Suite 106, PO Box 4222, Telluride, CO 81435, (percentage, specific, or residual language as above)."
You may also use the bequest to set up a named fund, using this language:
Donor Advised Fund: "to establish the (choose name) donor advised fund."
Field-of-Interst Fund: "to establish the (choose name) field-of-interest fund for (describe field of interest as programmatic, geographic or combination of both)."
Designated or Affiliate Funds: "to (name of specific organization or affiliate TF fund)."
If you have an existing fund at TF, place the fund's name in the examples above.
Frequently Asked Questions
How do I leave a gift in my will for the Telluride Foundation?
Many individuals set aside a certain dollar amount through their will; others leave a percentage of their estate or any assets left over after their family has been provided for. Some people give something they own, such as a car or their home. Others leave a paid-up life insurance policy. (Sample language for all of these situations is provided above) For any bequest, it is important that you provide the correct legal name of the charity, as well as its federal tax identification number, to make sure the proper charity receives your gift.
Do I have control over how the Telluride Foundation will use my bequest?
Yes. You can specify whether you would like the assets to go toward our annual community grantmaking as an unrestricted gift, be assigned to a specific existing fund, or be used to establish a new fund in your name (or any name that you choose). You can also specify whether the principal should be permanently invested, allowing the Foundation to spend only the annual earnings (endowed fund), or whether the Foundation may spend the princial amount of your gift at its discretion (expendable fund).
If you already have a will and any of the following has occurred, you should review your will and possibly consult an attorney to review it:
Individuals and families who are committed to creating a stronger Telluride community and sustaining it for future generations work through a planned gift or bequest to the Telluride Foundation to continue giving back, forever. (Your gift can benefit our local community, as well as other communities that matter to you, such as your childhood hometown.)
Bequests are the most frequent type of planned gift made to charity. Your estate receives a charitable deduction for the full amount given, so your heirs pay no estate tax. Sample language is provided below.
You may direct your bequest to the Telluride Foundation which will benefit our work in the community, including our community grantmaking. Or you may choose to use the bequest to establish a named fund, such as donor advised, designated or field of interest fund.
If you have a favorite nonprofit organization (or a couple of favorites) you can create a Designated Endowed Fund to benefit a specific organization in perpetuity. With this type of gift, you have confidence that your lasting legacy will be a permanent endowment for your chosen nonprofit(s), or, should that agency cease to exist, that the funds would be re-directed to a similar purpose.
We all leave our assets behind, but nearly 60 percent of us do so without knowing to whom. If you die without a will, the State of Colorado decides who receives how much of what you leave behind - you forfeit the right to decide how your property will be distributed. Your will ensures that you make those important decisions that will impact the people, places and things you care about most.
Things to consider
Only 42% of Americans die with a will.
Only 8% of Americans include charitable bequests in their wills.
In 1996, 81% of the wealthiest individuals in our country (estates of $600,000 or more) left nothing to nonprofit organizations in their wills.
It can be simple to create a will and to leave a legacy by contributing to an organization that means a great deal to you.
In many cases, there are tax advantages to adding a bequest to your will.
Sample Language for a Charitable Bequest
The following four types of bequests direct your gift to The Telluride Foundation. You may restrict the bequest using additional language. Please discuss everything with your financial or tax advisor. You may also want to include the Telluride Foundation's Federal Tax ID number which is: 84-1530768.
Percentage
"I give, devise and bequeath to The Telluride Foundation, a nonprofit corporation of the State of Colorado, located at 220 E. Colorado Ave., Suite 106, PO Box 4222, Telluride, CO 81435, ____% of my estate."
Specific
"I give, devise and bequeath to The Telluride Foundation, a nonprofit corporation of the State of Colorado, located at 220 E. Colorado Ave., Suite 106, PO Box 4222, Telluride, CO 81435,
Choose one
- The sum of $__________."
- _________ shares of stock in _________ Company."
- My real property commonly known as ____________."
"I give, devise and bequeath to The Telluride Foundation, a nonprofit corporation of the State of Colorado, located at 220 E. Colorado Ave., Suite 106, PO Box 4222, Telluride, CO 81435, all the residue of my estate, including real personal property."
Contingent
"In the event of the death of any of the beneficiaries, I give, devise and bequeath to The Telluride Foundation, a nonprofit corporation of the State of Colorado, located at 220 E. Colorado Ave., Suite 106, PO Box 4222, Telluride, CO 81435, (percentage, specific, or residual language as above)."
You may also use the bequest to set up a named fund, using this language:
Donor Advised Fund: "to establish the (choose name) donor advised fund."
Field-of-Interst Fund: "to establish the (choose name) field-of-interest fund for (describe field of interest as programmatic, geographic or combination of both)."
Designated or Affiliate Funds: "to (name of specific organization or affiliate TF fund)."
If you have an existing fund at TF, place the fund's name in the examples above.
Frequently Asked Questions
How do I leave a gift in my will for the Telluride Foundation?
Many individuals set aside a certain dollar amount through their will; others leave a percentage of their estate or any assets left over after their family has been provided for. Some people give something they own, such as a car or their home. Others leave a paid-up life insurance policy. (Sample language for all of these situations is provided above) For any bequest, it is important that you provide the correct legal name of the charity, as well as its federal tax identification number, to make sure the proper charity receives your gift.
Do I have control over how the Telluride Foundation will use my bequest?
Yes. You can specify whether you would like the assets to go toward our annual community grantmaking as an unrestricted gift, be assigned to a specific existing fund, or be used to establish a new fund in your name (or any name that you choose). You can also specify whether the principal should be permanently invested, allowing the Foundation to spend only the annual earnings (endowed fund), or whether the Foundation may spend the princial amount of your gift at its discretion (expendable fund).
If you already have a will and any of the following has occurred, you should review your will and possibly consult an attorney to review it:
- You have moved to another state.
- Your financial, marital or parental status has changed.
- Your children have grown up.
- The tax laws have changed.
- A person in your will has died.
- You have decided to add one or more charities to your will.
Telluride Foundation
220 E. Colorado Avenue, Suite 106, PO Box 4222
Telluride CO 81435
970-728-8717![[template/footer_bullet.gif]](http://www.telluridefoundation.org/uploads/images/template/footer_bullet.gif "[template/footer_bullet.gif]")
Fax 970-728-9007
220 E. Colorado Avenue, Suite 106, PO Box 4222
Telluride CO 81435
970-728-8717
Fax 970-728-9007