Gift Giving to PBKAAGA

The Phi Beta Kappa Alumni Association of Greater Austin hopes that you will consider including a gift to the Association in your will or living trust. This type of gift is a charitable bequest and provides several advantages:

• Simplicity – A few sentences in your will or living trust is all that you need to complete the gift.
• Flexibility – Because you are not making a gift until after your lifetime, you can change your mind at any time. (You can also designate the Association as a beneficiary on your life insurance policy, retirement plan, or bank account. To make a beneficiary designation, contact your life insurance company, retirement plan administrator, or financial institution for the forms needed.)
• Versatility – You can make a bequest of a specific item, amount of money, percentage of your estate, or piece of property.
• Tax Relief – If your estate is subject to an estate tax, your gift can provide your estate with a charitable deduction for the value of the gift.

The Association greatly appreciates bequests of any type or amount. Remember that your will or living trust is a legal document that you should have drafted or amended with the help of an attorney.

If you're in a position to make a charitable distribution from your retirement account, you might consider making a direct rollover (a Qualified Charitable Distribution (QCD)), which could count as part of your Required Minimum Distribution from your account. Our address to which a rollover check could be mailed is PBKAAGA, P.O. Box 5366, Austin, TX 78763-5366.

For your information, the Association’s Federal Tax Identification Number is 74-2894555.

Sample Language for Bequest of an Unrestricted Gift

I give, devise, and bequeath to the Phi Beta Kappa Alumni Association of Greater Austin (the “Association”), a non‑profit charitable organization headquartered in Austin, Texas, [written dollar amount, percentage of my residual estate, or description of property] to be used for the benefit and general purposes of the Association as the Association’s Board of Directors may direct.

Sample Language for Bequest of a Specific Gift

      I give, devise, and bequeath the sum of [written dollar amount] to the Phi Beta Kappa Alumni Association of Greater Austin (the “Association”), a non‑profit charitable organization headquartered in Austin, Texas. This gift is to be used for a memorial scholarship in the name of [Firstname MI Lastname], to be divided equally over a [number]‑year period or as the Association’s Board of Directors deems appropriate.

      If, in the judgment of the Board of Directors, changed circumstances should at some future time render the designated use of the bequest impracticable or no longer appropriate, the Board of Directors may designate an alternative use for the bequest to further the objectives and purposes of the Association, giving consideration to the spirit of my original purpose.