Project AWARE

ENSURING OUR FUTURE --- The
Legacy of Deferred Gifts

For a number of reasons, some people may prefer to support Project AWARE Foundation by making a deferred gift. This giving vehicle can offer specific advantages for some individuals and can take a variety of forms.

The most traditional method of deferred giving is through a bequest naming Project AWARE Foundation as a beneficiary. Most importantly, the donor retains full use of the gift property through his/her lifetime. These gifts are also very attractive to the Foundation as they ensure the viability of our vital aquatic conservation programs far into the future.

These gifts should always be made in consultation with your attorney and/or financial advisor to ensure that your specific financial needs are addressed and that your wishes are correctly identified and recorded.

Listed below are types of bequests that you might consider, along with suggested language for each:

Types of Bequests:

Bequests to Project AWARE Foundation may be made in several forms. The following examples are offered to you and your legal counsel as you consider ways to help further the mission of Project AWARE Foundation through estate planning:

1. A General Bequest

This form of giving provides maximum benefit by leaving funds or property to charity without designation as to its use:

“I give (dollar amount) to Project AWARE Foundation to be used for its exempt purposes.”

2. A Specific Bequest

This bequest identifies a specific piece of property to be given to charity:

“I bequeath 500 shares of General Electric Co. common stock to Project AWARE Foundation, to be used for its exempt purposes.”

3. A Residuary Bequest

This form of gift directs all or a portion of one’s estate to charity after payment of debts, taxes and expenses of estate administration:

“All the rest, residue and remainder of my estate I give to Project AWARE Foundation, to be used for its exempt purposes."

4. A Percentage Bequest

A donor may choose to give a portion of his or her estate to charity, expressed in percentage form:

"I give 50% of my estate to Project AWARE Foundation to be used for its exempt purposes."

5. A Contingent Bequest

Should you decide to leave a bequest to an individual, and he or she dies before you, a charitable gift may be made of that bequest:

“If (name of the individual) predeceases me or disclaims any interest in my residence located at ( 123 Main Street , Cleveland , Ohio ), then I give such property to Project AWARE Foundation.”

6. A Restricted Bequest

You may wish to designate your estate gift to Project AWARE Foundation for a specific purpose, such as an environmental project or environmental education campaign. However, to avoid obsolescence, please use broad language:

“I give $5,000 to Project AWARE Foundation to support the International Cleanup Day Project.”

Possible Bequest Language

“I give, devise and bequeath to Project AWARE Foundation, a nonprofit corporation organized in accordance with the laws of the State of California and located at 30151 Tomas Street, Suite 200, Rancho Santa Margarita, CA, 92688-2125, the following property:

(insert language as suggested above)

The property comprising this gift may, for investment purposes, be merged with any of the general investment assets of Project AWARE Foundation, but the gift shall be known as the _________ Fund.

The distributions from the fund shall be used to further the purposes of Project AWARE Foundation and promote conservation of underwater environments through education, advocacy and action.”

Special Directions for Restricted Bequests: Because the future needs of our conservation efforts are difficult to predict, we prefer funds be merged with general investment assets. If an individual donor chooses to make a gift for a specific purpose, inclusion of the following sentence will ensure the bequest remains useful in the event of unforeseen circumstances:

“If, in the judgment of Project AWARE Foundation, changed circumstances should, at some future time, render the designated use of this fund impracticable, unwise or inappropriate, then Project AWARE Foundation shall use the fund to further its organizational objectives of promoting the conservation of underwater environments through education, advocacy and action, giving consideration to my special interest as evidenced by the purpose described above.”