Charitable Bequest

Gifts by will are one of the University’s most important sources of individual support. Bequests provide scholarships, professorships and fund capital projects. These gifts are critical in meeting Penn’s educational, cultural and research needs. A bequest can be made in the form of a specific gift of cash or property, or a percentage of the remainder of an estate. The latter allows more flexibility in planning.  

Unrestricted Gift (a gift that can be used where need or opportunity is greatest)

I give to The Trustees of the University of Pennsylvania, a non-profit 501(c)(3) corporation, located in Philadelphia, Pennsylvania, organized and existing under the laws of the Commonwealth of Pennsylvania, the sum of $_______ [or ______% of the rest, residue and remainder of my estate] to be used for its general purpose.

A charitable bequest can also be designated for a specific purpose. It is best to have both the designation and the language approved by the University to avoid any potential difficulties in the execution of the will, and to ensure the University meets your gift intention.

Gift for a Specific Purpose

I give to The Trustees of the University of Pennsylvania, a non-profit 501(c)(3) corporation, located in Philadelphia, Pennsylvania, organized and existing under the laws of the Commonwealth of Pennsylvania, the sum of $_______ [or ______% of the rest, residue and remainder of my estate] to be used for [state purpose].

Benefits of a Bequest

  • Enables you to make a significant contribution that may otherwise not have been possible during your lifetime
  • Removes assets from your taxable estate
  • When set up as a percentage of the estate, allows for changes in the value of your assets

 

Where There’s a Will, There’s a Way

Alexander Strauss, EE’ 55 and Sheila Strauss, C’56 have fond memories of their days as Penn students and have continued their relationship with the University over the years. They frequently come back to campus to attend events and have season tickets for football and basketball. While they do not consider themselves wealthy, they do recognize that taxes will take a considerable toll on their estate. Having both received financial assistance from Penn as students, they wish to give something back but are not yet sure about making a long-term commitment during their lifetimes. Instead, they have simply included the University in their wills and have designated that their bequest be used for scholarship support.