An endowment is a fund created by gifts
For endowment funds, the principal (endowment corpus must be invested and only a portion of the income may be expended to carry out the
Importance of endowments to our University
An endowment will create financial stability, allowing
Who can participate
The department of planned giving of the University of the Southern Caribbean supports and encourages the University’s academic program by engaging alumni, friends, and the local and business community to participate in the Fund. The department staff in collaboration with the Alumni Association help connect these constituents with the university through one-on-one contact, news information and special programming, there by securing the University legality and financial resources necessary to create the best possible learning environment for students and to best serve the Seventh-day Adventist community in the Caribbean region and beyond.
One of the easiest and more common ways for you to make a gift to the University of the Southern Caribbean is through a bequest in your will. Bequest work particularly well for those who are unable to make
There are four basic categories of bequests:
- Specific bequests
takesthe from of an outright gift of securities, a specific fund of money, or other property in your will, you describe an item of property as you give that particular item to an individual or perhaps to the University. Specific bequests are honoredafter debts and expenses of your estate are paid and before other bequests are distributed.
- General bequests do not provide for the source of payment of the bequest. For instance, you may wish to transfer $25,000 to your son. With a special
bequestyou might designate $25.000 from your money market account at XYZ National bank. With a general bequest, you would simply state. “I give the sum of $25,000 to my son.” Your executor may honorthe bequest from any available source in your estate.
- Residuary bequests give away what remains of your estate after all expenses, debts and t axes have been paid and all specific and general bequests have been satisfied.
- Proportional bequests give away a set percentage of your total or residual estate to the University of the Southern Caribbean.
Please also keep in mind that bequests may be directed to specific areas of support throughout the university (endowed scholarships, college programs, etc.)
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