Bequest Language
I give, devise, and bequeath to Towson University Foundation, Inc., a Maryland nonstock corporation having EIN 52-0939453 or its successor-in-interest, (the sum of $______) (the following asset) (___ percent of my adjusted gross estate) or (the rest, residue, and remainder of my estate). This gift shall be used for (state purpose) if and for so long as the Board of Directors of the Foundation determines that the need exists. If the Board of Directors of the Foundation shall determine at the outset or at a later time that the need does not exist, or no longer exists, or for some reason it is not possible (or prudent) for the bequest to be used as originally intended, the Board of Directors may, in its sole and uncontrolled discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above.
It is strongly advised that the donor and/or the donor’s advisor discuss restrictions with a representative of the gift planning office before the will or trust is finalized to ensure the donor’s wishes can be carried out. For restricted gifts establishing named endowments, many donors complete a Memorandum of Understanding.
Exact Legal Name: Towson University Foundation, Inc.
Address of Principal Office: Towson University Foundation, 8000 York Road, Towson, Maryland 21252-0001
State of Incorporation: Maryland
Tax Identification No: 52-0939453
Contact Person: Kathleen Hider, Director of Planned Giving & Major Gifts, 410-704-6287, khider@towson.edu
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.