BEQUESTS

GENERAL INFORMATION

Bequests to The ASPRS Foundation, Inc. may be made in the form of cash, securities, real estate or other property.  You should specify that the Foundation is to receive a certain amount or percentage of your estate, particular assets, or the remainder of your estate after providing for heirs.  If you or your attorney would like to discuss making a bequest to the Foundation, or for assistance in drafting language, please contact us.  

In any case, if you elect to include the Foundation in a provision of your will, it would be very helpful to the Foundation if you could let us know.  It would also allow us to express our gratitude for any bequest you may make.

TYPES OF BEQUESTS

Following are some examples of various types of bequests:

Specific bequests are used to make a gift of a specific dollar amount or specific assets, such as securities, real estate or personal property.

Residuary bequests are used to give all or a portion of the rest, residue and remainder of your estate after payment of expenses and any specific amounts designated to other beneficiaries.

Contingent bequests will result in a gift to the Foundation only in the event of the death of other beneficiaries or the fulfillment of certain conditions described in your estate plans.

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DESIGNATING THE PURPOSE OF A BEQUEST

Designation of the use of the funds bequeathed (devised, in the case of real property) can, or should be, as detailed as is felt necessary to describe adequately the donor's desired use and purpose of the bequest.  The most useful type of bequest to the Foundation is unrestricted, allowing the funds to be allocated wherever the need is greatest.

However, you may designate your bequest to support a specific award, scholarship or program purpose that reflects your personal or professional interest.  If the bequest is restricted to a specific purpose, it is important that wording be added at the end of the provision to ensure that, in the remote possibility an activity or specified purpose may cease to need funds in the future, an alternate use for the bequest may be determined.

INCLUDING THE ASPRS FOUNDATION IN YOUR WILL

Several examples of suggested bequest wording to benefit the programs of the American Society for Photogrammetry and Remote Sensing through the ASPRS Foundation, Inc. have been provided.  The Foundation, an independent, nonprofit, tax-exempt corporation founded in 1979, raises, invests and distributes gifts on behalf of the Society.

We encourage you to share your final will provision with the Foundation's staff to ensure that your wishes will be properly followed and recognized.  Each individual situation is unique and, therefore, the following examples include only some of the possible gift opportunities.

Percentage of estate for unrestricted purposes:
"I hereby give, devise and bequeath to the ASPRS Foundation, Inc., a nonprofit, non-stock District of Columbia corporation with its principal office in Bethesda, Maryland, __________________ percent ( %) of the rest, residue and remainder of my estate as an unrestricted gift to be used in the area of greatest need at the time the gift is received."

Percentage of estate for specific purposes:
"I hereby give, devise and bequeath to the ASPRS Foundation, Inc., a nonprofit, non-stock District of Columbia corporation with its principal office in Bethesda, Maryland, _______________percent ( %) of the rest, residue and remainder of my estate to form an endowment fund for ___________________________________________.   This fund shall be a permanent endowment and shall be known as the _______________________________________ Fund.

All distributions from the Fund shall be described as having been made available by this Fund.  Additional contributions to said Fund, whether by gift, bequest or devise, may be accepted at any time with the approval of the Foundation.  It is understood and agreed that should the purpose for which this Fund is instituted cease to exist, then the Foundation may devote said Fund for such other uses and purposes as it determines to be in accordance with my original intent in making this gift."

Specific amount for unrestricted purposes:
"I hereby give, devise and bequeath to the ASPRS Foundation, Inc., a nonprofit, non-stock District of Columbia corporation with its principal office in Bethesda, Maryland, the sum of _______ dollars ($ ) as an unrestricted gift to be used for the purpose of greatest need at the time the gift is received."

Specific amount for specific purposes:
"I hereby give, devise and bequeath to the ASPRS Foundation, Inc., a nonprofit, non-stock District of Columbia corporation with its principal office in Bethesda, Maryland, the sum of __________ dollars ($ ) to be used for _____________________________ by the ASPRS.  It is understood and agreed that should the purpose for which this bequest is instituted cease to exist, then the Foundation may devote said bequest for such other uses and purposes as it determines to be in accordance with my original intent in making this gift."

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FOR MORE INFORMATION

To assist you with your plans, the Foundation's staff can provide sample language for the program or area you wish to support. This confidential service is available to you without obligation.  To request specialized language for a will or trust, please contact Jesse Winch at ASPRS (301) 493-0290 Ext 101 or by email at jwinch@asprs.org.