Bequest Language

You can include a gift to the University of Tennessee, Knoxville, by simply naming the University of Tennessee Foundation, Inc. [Federal Tax ID # 62-1844686] in your will or living trust. If you already have a current will, a simple codicil may be added to include the University of Tennessee Foundation, Inc. (UTFI). The following sample language may be helpful for your attorney in drafting will provisions.

Since the UTFI raises monies for various campuses, colleges, programs and institutes it is important for you to designate which college, school or program at UT you wish to benefit from your bequest. The UTFI is an independent not-for profit created in 2001 to support UT's educational, research and public activities. The UTFI is a 501c(3) and is the preferred channel for all gifts to UT.

I give to the University of Tennessee Foundation, Inc. [Federal Tax ID # 62-1844686] for the benefit of the University of Tennessee, Knoxville, __________________________________ (percent of my estate, dollars, property, securities, rest, residue or remainder of my estate) to be used by _______________________________ (college, department, program, etc.) to be used for ________________________________________ (however you wish your gift to be used or you may just stipulate "greatest need").

If you would like to create a permanent named endowment ($25,000 minimum to establish an endowment) with a portion of the annual income designated for a particular purpose (scholarship, faculty support, academic program support) you can express your wishes this way:

I give to the University of Tennessee Foundation, Inc. [Federal Tax ID 62-1844686] ___________________ (percent of my estate, dollars, property, securities, rest, residue or remainder of my estate) to establish the ________________________________ (the name you wish the endowment to bear) Endowment for the benefit of the University of Tennessee, Knoxville. The fund income, but not the principal, should be used by _______________________________ (college, department, program, etc.) to be used for_______________________________.

The Foundation shall have the authority and discretion to invest and reinvest such fund in accordance with policies established by its Board of Directors. The portion of the fund's value spendable annually for the designated purpose is also to be determined, from time to time, by the Board of Directors. If at any time in the future the need does not exist for the fund or should this conflict with any Federal, State or Local laws, statutes, regulations, or ordinances, the governing body of the Foundation shall have the authority to select an appropriate use for this fund that closely approximates my original intent. If, when the bequest is received, the gift or gifts to this fund fail to reach the minimum endowment level, the Foundation's Board of Directors will select an alternate use or combine this gift with other funds for similar purposes, keeping in mind my original intent.

Please contact the Office of Gift Planning at 865-974-3388 or giftplanning@utk.edu for more information.