A bequest is basically the act of giving (or bequeathing) property through a will. Thus, your will can be one of the easiest ways to make a contribution to Partners For Quality Foundation, Inc. (PFQF), simply by asking your attorney to add an amendment to your existing will.
There are essentially three types of bequests you can make:
Specific Bequest
This is, perhaps, the most common type of bequest. You designate a specific dollar amount, or a specific property or
asset to Partners For Quality Foundation. You can also designate a specific percentage of your estate (or of another asset)
to go to the Foundation. (This is sometimes referred to as a percentage bequest).
Residual Bequest
This type of bequest ensures that all debts and specific bequests have first been distributed. The remaining
portion of the estate (or the 'residue') is then transferred to the
Partners For Quality Foundation.
Contingent Bequest
You can designate the Partners For Quality Foundation to receive all, or part, of your estate, contingent upon specific
circumstances. For example, Partners For Quality Foundation would only be awarded the designated asset(s) if there were no other
surviving family members.
Our legal designation is: Partners For Quality Foundation, Inc., a 501(c)(3) tax-exempt organization, Federal Tax ID number 30-0285255. The proper bequest terminology is: "I give, devise, and bequeath to Partners For Quality Foundation, Inc. the sum of $_____ to be used for its general purposes." This information is being offered with the understanding that Partners For Quality Foundation, Inc. is not rendering legal, accounting or other professional services. Please consult your attorney or other qualified professional for assistance.
By providing for the Partners For Quality Foundation in your estate plans today, you will help to guarantee the future of the people served by the Agency. Of course, your estate will be entitled to a charitable deduction for the full, fair-market value of your gift.
If you would like more information, please contact our Foundation staff.
