M. EXAMPLES OF SAMPLE CLAUSES AND AGREEMENTS

SAMPLE CLAUSE FOR AN IMMEDIATE GIFT OF CASH OR PROPERTY TO AN EXISTING ENDOWMENT FUND (Immediate gifts of cash or property to establish new endowment funds require Agreements.)

“I/We, Name of Donor(s) , hereby give to the Community Foundation of the North Okanagan, the assets described below, to be held in the Name of Existing Fund . The effective date of this gift shall be the date of receipt and acceptance by the Foundation.

SAMPLE CLAUSES FOR INCLUSION IN WILLS

A. To the Community Fund

“I give, devise and bequeath:

(describe assets which are the subject of the bequest – for example, a stated sum or the residue of the estate or a percentage of the residue of the estate)

to the Community Foundation of the North Okanagan to be included as a part of the Community Fund with income to be used for general charitable purposes.”

B. To a Field of Interest or Designated Fund

“I give, devise and bequeath:

(describe assets which are the subject of the bequest – for example, a stated sum or the residue of the estate or a percentage of the residue of the estate)

to the Community Foundation of the North Okanagan to be held as a permanent endowment fund named the ___________________________ Fund, with income to be used to support (specify the field of interest or specific charitable organization).”

C. A Contingent Bequest

“In case any bequest made by this will shall by reason of the death of the beneficiary in my lifetime, or for any other reason fail to take effect, the property so bequeathed is to go to the Community Foundation of the North Okanagan, to be held as a permanent endowment fund, named the __________________ Fund, with income to support (general charitable purposes, field of interest or specific charitable organization).

In all of the above situations, the Foundation is always appreciative of knowing when a donor intends to leave a bequest from an estate, however, it is not necessary to do so.

FORMS

The following pages are actual examples of the Agreement Forms used by the Community Foundation of the North Okanagan to establish new Funds. In each case, the Agreement Form requires an Attachment A and this is included as the last page of the forms.
All files are provided in PDF format

1. Community Fund Agreement - Agency Fund 164Kb
2. Field of Interest Fund Agreement - 148Kb
3. Designated Fund Agreement - 164Kb PDF
4. Scholarship Fund Agreement - 148Kb PDF
5. Donor Advised Fund Agreement - 148Kb PDF