Charitable Giving
Making a Bequest
Wills provide an excellent opportunity for donors to support the South Dakota Farmers Union Foundation in the future.
Donors may bequeath a fixed percentage of their estate or a specific amount to the SDFU Foundation in support of the
education programs. Donors may also provide in their wills for specific heirs to disclaim in favor of the SDFU
Foundation if they later decide to do so. Following is sample bequest language:
I give, devise and bequeath to the South Dakota Farmers Union Foundation, a nonprofit educational corporation located in Huron, SD, the sum of $_______(or _____% of my estate or property herein described) to be used for the purpose of _________________ (example: unrestricted uses, youth camp program, leadership program, livestock loan program, etc.)
If you are planning to include the SDFU Foundation in your will, or if you have already included us in your will, please contact us - we certainly want to take the opportunity to thank you and recognize you for your generosity!
Various Bequest Options:
Here are some generally accepted ways of making a bequest. Please discuss them with your attorney as you prepare to establish or update your will.
- Specific bequest: A gift of a specific item to a specific beneficiary.
- General bequest: A gift of a stated sum of money.
- Contingent bequest: A bequest made on a certain condition/event happening prior to distribution.
- Residuary bequest: (This is a gift of all the "rest, residue and remainder" of your estate after all
other bequests, debts and taxes have been paid.
The above types of bequests apply to individual heirs or bequests to charitable organizations, and define the amount of the bequest. The following are optional considerations added to the bequest of the donor when made to a charity.) - Unrestricted bequest: This is a gift for the Foundation's general purposes, used at the discretion of the governing board.
- Restricted bequest: This gift allows the donor to specify how the funds are to be used by the Foundation.
- Memorial bequest: This gift is given in honor or in memory of someone special.
- Endowed bequest: This gift allows the donor to restrict the principal of the gift, requiring the Foundation to hold the funds permanently and use only the investment income generated.