Bequest Language for Donors
The following is intended to assist you and your attorney in drafting a bequest that meets your individual interests. As you consult your attorney on the selection of appropriate wording to reflect your own goals and intentions regarding Carnegie Mellon, be sure the University's correct legal name appears in all final documents as:
“Carnegie Mellon University, a Pennsylvania nonprofit corporation located in Pittsburgh, Pennsylvania, or its successor thereto.”
Types of Bequests:
- Unrestricted: This type of gift is a gift that Carnegie Mellon may use for its general purposes. An unrestricted gift is very useful to the University because the University will have flexibility to put the gift to the best possible use at the time the University receives it.
- Restricted: A restricted gift is given to Carnegie Mellon with instructions for a specific purpose, such as support for a special project or program that is important to you. Please consult with the Office of Gift Planning prior to establishing your restrictions to ensure that the University is able to carry out your wishes.
- Expendable: An expendable gift is a gift that the University may spend currently, even to exhaustion of the gift. If you do not specify that your gift is to be endowed, your gift will be considered expendable.
- Endowed: When you specify that you intend for your gift to be endowed, the principal amount of your gift will be invested and the investment income will be used for the ongoing support of the Carnegie Mellon. If your gift is in the amount of $50,000 or more, you may create your own named endowed fund. If you would like to make an endowed gift but your gift is less than $50,000 or you do not wish to create your own separate endowed fund, the University will invest your gift with the rest of the University’s general endowment. By adding to the endowment, your funds can grow over time. This approach assures that your gift will continue to benefit the University long after you are gone. An endowed bequest can be restricted or unrestricted.
- Scholarships vs. Fellowships: Reference to scholarships will be interpreted as financial awards to undergraduate students. Fellowships are financial awards to graduate students. If you are interested in making a gift that will provide financial awards to students, please be sure to carefully specify which type of award (scholarship or fellowship or both) you wish to establish.
To let us know that you have included Carnegie Mellon University in your estate plan, please complete a Gift Confirmation form. Thank you for making CMU part of your legacy!