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Burlington City Arts

Sample Bequest Language

Bequests to Burlington City Arts  

A bequest or estate provision to benefit Burlington City Arts is a way of perpetuating your support for BCA.  This type of gift may mean you can give a larger gift or legacy than what is possible in your lifetime.
An estate provision may take the form of a specific dollar amount or a percentage of the residual estate after provisions are met for family members and other beneficiaries. You may stipulate whether the bequest is for the general support of Burlington City Arts or for a specific purpose.  Examples include giving to an already established fund, creating a named fund based on your particular intentions, i.e. gallery exhibitions, professional development for artists, scholarship support, Art from The Heart, or any of BCA’s programs that interest or move you.  A bequest may also be made in honor of, or in memory of an individual.
In addition to cash and securities, provisions for Burlington City Arts may include real estate or tangible property, including artwork. All outright bequests to Burlington City Arts are exempt from federal estate taxes, and there is no limitation on the size of the gift.
When making or revising your will, the assistance of an attorney is advised. Members of Burlington City Arts' Gift Planning Office will be pleased to work with you and your attorney to help designate your gift. We encourage you to communicate your intensions with the BCA Foundation to ensure the Foundation is able to accept and administer your gift, according to your wishes.
Charitable estate gifts from retirement plans direct taxable assets to charity, leaving non-tax assets for family and friends.

Sample Bequest Language

"I give, devise and bequeath to Burlington City Arts Foundation, Inc., a not-for-profit corporation existing under the laws of the State of Vermont, and located at Burlington, Vermont, _______ (percent of your estate, dollars, property, securities  , etc.) to be used for _______ (however you wish your gift to be used) at Burlington City Arts."

If you would like to create a named endowment fund (certain minimum thresholds apply – please contact the BCA for details) with a portion of the annual income designated for a particular purpose, you can express your wishes this way:
 "I give, devise and bequeath to Burlington City Arts Foundation, a not-for-profit corporation, existing under the laws of the State of Vermont, and located at Burlington, Vermont, _______ (percent of your estate, dollars, property, securities, etc.) to constitute the _______ Fund (whatever name you wish to call it). This fund shall be invested by the Board of Directors of Burlington City Arts Foundation and a portion of the annual income thereof utilized for _______ (whatever you would like the earnings to be used for) at Burlington City Arts."

It also is a good idea to include a "saving clause" in your will, in case something happens making it impossible for Burlington City Arts Foundation to carry out your wishes exactly as stated in your bequest. A "saving clause" might read as follows:
 "In the event any provision of this bequest shall become void, illegal, impractical, unnecessary or impossible of performance because of laws or social or economic conditions, which determination shall be made by the Board of Directors of Burlington City Arts Foundation, and as a result thereof, the Board of Directors shall then determine the best use of the bequest in keeping with the original intent of the donor."

Burlington City Arts Foundation, Inc. (federal tax ID 030354963) is a Vermont nonprofit exempted from federal income taxation as a section 501(c)(3) publicly supported charity.

It is always a good idea to share your plans with the development office at BCA in order that we may be certain that the language used will accurately carry out your desires. For further information, please call Lucia Campriello at (802) 865-7158 or email lcampriello@burlingtoncityarts.org

Retirement Plan Provision 

A retirement plan provision can be accomplished with a change of beneficiary form available from your plan custodian, and may provide a greater tax advantage than other types of estate gifts.
“I allocate $_______ or _______% of my retirement plan to Burlington City Arts Foundation to be used for ___________ at Burlington City Arts.”

To ensure that we are able to apply your gift as you envision it, please contact Lucia Campriello at (802) 865-7158 or email lcampriello@burlingtoncityarts.org.