Will Your Gift Be Restricted?
Gifts to the Seminary under a will may be given for unrestricted use, used to support a particular program, or added to endowment.
In balancing the wish of the donor to benefit a special purpose with our ever-changing financial needs, advisors recommend that restrictions be described as broadly as possible, avoiding detailed limitations. The more limited the restrictions of such a bequest, the more important it is to add a provision such as the following:
In the event that such use should prove to be impossible, impracticable or undesirable for any reason as their governing body may determine, in their sole discretion, they shall then provide for alternative uses of the fund in a manner consistent with and reflecting the spirit of the original gift.
Please let us help you with your sample gift language to the Seminary. We will assist you or your attorney with bequest language that works best for you and us, and can also clarify and advise you in regard to your interest in benefiting specific aspects of our work.