The following language is suitable for inclusion in the will of a donor who wishes to leave a bequest (technically called to "devise" under Michigan law) to the Community Foundation:
I devise to the ABC Community Foundation, a Michigan nonprofit corporation, ____________________________(describe devise - for example, "One Thousand Dollars" or "all of the residue of my estate") to be used in all furtherance of the charitable purposes of the Community Foundation as defined in and subject to the provisions of its Articles of Incorporation and Bylaws.
If the amount of the devise meets the minimum contribution requirements of the Community Foundation, the donor may create a separately identifiable fund by name and purpose by adding language from one of the four options that follow.
Named Fund/Unrestricted Purpose
This devise will be used to establish a component fund to be known as the___________________________Fund. I direct that the annual net income of the Fund be used exclusively for the charitable purposes set forth in the Articles of Incorporation and Bylaws of the Community Foundation as determined from time to time by the governing board.
This devise will be used to establish a component fund to be known as the__________________________ Fund. I direct that the annual net income of the Fund be used for_______________________ (specify charitable purpose-or example, "the care of the homeless" or "senior citizen health care").
Designated (Agency) Fund
This devise will be used to establish a component fund to be known as the ___________________________ Fund. I direct that the annual net income of the Fund be used to support _______________ (insert name of particular charitable agency to be supported-for example, "the ABC Community Hospital" or "the ABC School District").
Donor Advised Fund
This devise will be used to establish a component fund to be known as the__________________________ Fund. I direct that an Advisory Committee consisting of ______________________, _______________________, and___________________ may make written recommendations from time to time to the governing board (or Distribution Committee) concerning grants from the Fund, provided the proposed grant is in furtherance of the general charitable purposes of the Community Foundation. I recognize that these recommendations may be accepted or rejected, in whole or in part, by the governing board (or Distribution Committee) in its sole discretion.
Distribution from Principal
If the donor agrees to permit the governing board to invade principal in unusual circumstances, the following language should be added:
It is my intention that the distributions from the Fund will ordinarily be made from income only. When extraordinary circumstances exist however, the governing board (or Distribution Committee) may authorize distributions from the principal of the Fund.