Bequests to Salus University
For many donors, a bequest is the most significant gift they can make to the University. A bequest removes assets from the donor’s estate and reduces its exposure to federal taxes. Bequests and other expectancies, which can be revoked by the donor if financial or other personal circumstances change, provide a solid foundation for the future.
At this time the foundation that receives all contributions in support of the University and its Colleges continues to be named the Pennsylvania College of Optometry Foundation. Bequests to the University or its Colleges should still be made to the PCO Foundation.
Bequests take various forms. Following are some samples of bequests for your consideration as you prepare your will:
Unrestricted General Bequest
A specific bequest that leaves the use of the funds or property up to the discretion of the University.
Example: I bequeath to Pennsylvania College of Optometry Foundation, the sum of _________________ dollars for its general purposes.
Likely the most popular form of bequest where one can designate that the University would receive a specific dollar amount or piece of property. These can be restricted to meet a need at the University as specified by the donor. A bequest to the University can be restricted for use by a specific College within the University, such as the Pennsylvania College of Optometry. Other common restrictions include endowing scholarships, professorships, lectureships, and book funds.
Example: I give ____________ (insert dollar amount or description of property) to
Pennsylvania College of Optometry Foundation to establish the _______________ endowed scholarship at the Pennsylvania College of Optometry.
Bequest of Residual Estate
The type of bequest is used to give the designated charity all (or a portion thereof) of an estate, after all debts, taxes, expenses and all other bequests have been paid.
Example: "I devise and bequeath to the Pennsylvania College of Optometry Foundation for use by the George S. Osborne College of Audiology, the residue of my estate owned by me at my death, real and personal, and wherever situate".
For More Information Contact
Lynne C. Corboy,
Director of Development