Designating Your Bequest

Unrestricted gifts or bequests are the simplest and most common kind of gift. It is also the most flexible because the amount given can be used at the discretion of the museum board and administration for its most important needs, which may change from time to time. Sample bequest language: I give, bequeath and devise (portion of residual estate, dollar amount or description of property) to the Oakland Museum of California Foundation for its general purposes.

Restricted gifts or bequests provide cash or property to be used by the museum only for the purpose you specify. You may choose to restrict your gift to a specific activity, such as acquisitions, education or conservation, or for a particular department or collection of the museum. If you are considering a specific restriction, contact Linda Larkin in the Development Office at 510/238-2918 or e-mail lalarkin@museumca.org.

It is important that you discuss your plans to ensure that your wishes can be carried out. If you wish to make a restricted gift, the museum suggests that you add the following clause: If at any time, in the judgment of the Board of Trustees of the Foundation, the designated purpose of this bequest proves to be impractical or impossible, I authorize them to use the income and principal of this bequest for a purpose they deem consistent with my designated purpose.

Permanent named funds at the museum can carry your name, or the name of loved ones. Named funds may be established at the museum for general or specific museum purposes. The initial funding amount should be $25,000 or more. (Gifts of any subsequent amount may be made to the fund after its establishment.) The following sample language may be used to create the gift: I hereby give to the Board of Trustees of the Oakland Museum of California Foundation (portion of residual estate, dollar amount, or description of property). The property comprising this gift may, for investment purposes, be merged with any of the investment assets of the Foundation, but the gift shall be entered in the Foundation’s books and records as the (Name) Fund, and shall always be so designated.

Endowed funds benefit the museum in perpetuity and provide a stable predictable source of funds for museum programs and projects. Invested conservatively for growth and income, only the income is spent to provide support for vital museum needs. Endowed funds may be unrestricted to be used by the museum at its discretion, or a specific purpose (restriction) may be designated for the fund. To create an endowment fund: So much of the (Name) Fund income as the Board shall determine, and in the determination of the Board part or all of any appreciation of the Fund principal, shall be used to further the objects and purposes of the Oakland Museum of California.

To name the museum as beneficiary, click here.

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