Bequest
A charitable bequest is one of the easiest and most flexible ways that you can leave a gift to the Catholic Foundation of Northwest Pennsylvania that will make a lasting impact for generations to come. Your bequest can be designated to establish a new parish, cemetery, Catholic school, or ministry permanent endowment, support an existing endowment or provide unrestricted support for the Foundation.
A bequest allows you to continue to use the property you will leave to us during your life and make a lasting impact on our work after you are gone.
Benefits of a bequest
- Receive an estate tax charitable deduction
- Reduce the burden of taxes on your family
- Leave a lasting legacy to our organization
Charitable bequest video
How a bequest works
A bequest is one of the easiest gifts to make. With the help of an attorney, you can include language in your will or trust specifying a gift to be made to family, friends or the Catholic Foundation of Northwest Pennsylvania as part of your estate plan, or you can make a bequest using a beneficiary designation form. Bequest language can include a designation to establish a new permanent endowment, benefit an existing endowment, or provide unrestricted support for the Foundation.
Here are some of the ways to leave a bequest to the Catholic Foundation of Northwest Pennsylvania
- Include a bequest to the Catholic Foundation of Northwest Pennsylvania in your will or revocable trust
- Designate the Catholic Foundation of Northwest Pennsylvania as a full, partial or contingent beneficiary of your retirement account (IRA, 401(k), 403(b) or pension)
- Name the Catholic Foundation of Northwest Pennsylvania as a beneficiary of your life insurance policy
A bequest may be made in several ways
- Specific Bequest - A specific bequest involves making a gift of a specific asset such as real estate, a car, other property or a gift for a specific dollar amount. For example, you may wish to leave your home or $10,000 to the Catholic Foundation of Northwest Pennsylvania.
- Percentage Bequest - Another kind of bequest involves leaving a specific percentage of your overall estate to our organization. For example, you may wish to leave 10% of your estate to the Catholic Foundation of Northwest Pennsylvania.
- Residual Bequest - A residual bequest is made from the balance of an estate after the will or trust has given away each of the specific bequests. A common residual bequest involves leaving a percentage of the residue of the estate to our organization. For example, you may wish to leave 30% of the residue of your estate to the Catholic Foundation of Northwest Pennsylvania.
Review sample bequest language
Contact Us
If you have been so generous as to include a bequest to the Catholic Foundation of Northwest Pennsylvania as part of your estate plan, please take the time to let us know. We would like to recognize you and your family for your generosity and recognize you as members of our Legacy Society.
