BEQUEST LANGUAGE

NYU Langone Medical Center campaign is a joint campaign of NYU School of Medicine and NYU Hospitals Center administered by NYU. These are tax-exempt not-for-profit organizations as described in sections 170(b)(1)(A) and 501(c)(3) of the IRC. Contributions are deductible for income, gift and estate tax purposes.

We recommend that you or your legal advisor call us to confirm the bequest language in your will, trust or beneficiary designation, so we can ensure your wishes will be followed.

Suggested Bequest Language:

General Purpose Bequest

“I GIVE, DEVISE AND BEQUEATH to NYU Langone Medical Center, having its principal office at 550 First Avenue, New York, NY 10016, the sum of $__________ [and/or _____ shares of the capital stock of _____ corporation and/or the following described property___________ and/or ______% of my residuary estate] for its general corporate purposes.”

Specific Purpose Bequest

“I GIVE, DEVISE AND BEQUEATH to NYU Langone Medical Center, having its principal office at 550 First Avenue, New York, NY, for the use of its ______________________________, the sum of $__________ [and/or _____ shares of the capital stock of _____ corporation and/or the following described property___________ and/or ______% of my residuary estate]. If at any time, in the discretion of the chief officer of NYU Langone Medical Center this bequest shall no longer be necessary for the above-stated purpose, the chief officer shall have the authority to designate its use for another purpose that closely carries out my original intent.”

Permanent Fund Bequest

“I GIVE, DEVISE AND BEQUEATH to NYU Langone Medical Center, having its principal office at 550 First Avenue, New York, NY 10016, the sum of $__________ [and/or _____ shares of the capital stock of _____ corporation and/or the following described property___________ and/or ______% of my residuary estate] to be used to establish a permanent fund to be known as ____________________Permanent Fund. This Fund shall be used for NYU Langone Medical Center’s general corporate purposes [or for the purpose of its ________________]. The Medical Center will invest and use the Fund in accordance with its then established policies and according to the conditions stated below. It is my understanding that the University will use such portion of the Fund as the Board of Trustees deems reasonably prudent, which takes into account the long and short term needs of the University in carrying out the University’s educational mission; its present and anticipated financial requirements; expected total return on its investments; price level trends; and general economic conditions. It is my understanding that in recent years the Board has considered it prudent to expend an aggregate of 5% of the three-year average value of these funds, but that the Board reviews the designated percentage annually to determine whether it remains appropriate. If at any time, in the discretion of the chief officer of NYU Langone Medical Center, this bequest shall no longer be necessary for the above-stated purpose, the chief officer shall have the authority to designate its use for another purpose that closely carries out my original intent.”

Scholarship Fund Bequest

“I GIVE, DEVISE AND BEQUEATH to New York University School of Medicine, having its principal office at 70 Washington Square South, New York, NY 10012, the sum of $__________ [and/or _____ shares of the capital stock of _____ corporation and/or the following described property ___________ and/or ______% of my residuary estate]. I direct that this gift shall be used to establish a Fund to provide scholarships to medical students who, in the judgment of the administration of the University, have demonstrated financial need and academic merit. The University will invest the Fund and grant awards to students each year in the form of tuition assistance in accordance with its then established scholarship policies and according to the conditions stated below. It is my understanding that in making these awards, the University will use such portion of the Fund as the Board of Trustees deems reasonably prudent, which takes into account the long and short term needs of the University in carrying out the University’s educational mission; its present and anticipated financial requirements; expected total return on its investments; price level trends; and general economic conditions. It is my understanding that in recent years the Board has considered it prudent to expend an aggregate of 5% of the three-year average value of these funds, but the Board reviews the designated percentage annually to determine whether it remains appropriate. If at any time, in the discretion of the Dean of NYU School of Medicine, this bequest shall no longer be necessary for the above-stated purpose, the Dean shall have the authority to designate its use for another purpose that closely carries out my original intent.”

Again, we encourage you or your legal advisor to contact our Office of Planned Giving to discuss the legal language you plan to use. Call us at (212) 404-3653, (800) 422-4438 or e-mail us at: plannedgiving@med.nyu.edu.