One of the simplest ways to support SAS is to make the School a beneficiary in your will by directing a specific sum or percentage of your estate. Your attorney may want to contact us for recommendations on language and stipulations in the will document and for seeing your gifting goals are documented.
Full Legal Name and Federal Tax Identification Number
- Full Legal Name: St. Andrew’s-Sewanee School
- Federal Tax Identification Number: 62-0475694
Sample Bequest Language
For attorneys and planners, we suggest the following sample language for bequests:
Unrestricted Bequest
“I give and bequeath to St. Andrew’s-Sewanee School in Sewanee, Tennessee, the sum of xxx dollars. This gift shall be used to further the educational mission of St. Andrew’s-Sewanee School in such a manner as the Board of Trustees may direct.”
You might choose to replace “the sum of xxx dollars” with one of the following:
“xx percent of my adjusted gross estate” “all the rest, residue and remainder of my estate” or “xx percent of my residuary estate”
Bequest Restricted for Endowment
If you are interested in establishing a named endowment for scholarships, faculty professional development, or other areas, please contact the Advancement staff for criteria including gift minimums.
“I give and bequeath to St. Andrew’s-Sewanee School (SAS) in Sewanee, Tennessee, the sum of xxx dollars to create an endowed fund to be named xxx, which shall be invested as the Board of Trustees may deem best. Distributions from the endowed fund shall be made each year in accordance with the spending policies of the School and shall be used for [area of support] at St. Andrew’s-Sewanee School. The fund, for purposes of investment, may be combined with other funds of the St. Andrew’s-Sewanee School, but the fund shall be separately accounted for.”
Again, you might choose to replace “the sum of xxx dollars” with one of the following:
“xx percent of my adjusted gross estate” “all the rest, residue and remainder of my estate” or “xx percent of my residuary estate”
Codicil to Last Will and Testament
If your estate planning documents are up to date, you can simply draft a short codicil or amendment to the existing documents, using this or similar language:
“I, [name], hereby amend my Last Will and Testament, executed on [date]. I direct that all provisions of that Will remain in effect, but in addition direct that St. Andrew’s-Sewanee School in Sewanee, Tennessee shall receive the sum of xxx dollars to be used to further the educational mission of the School in such a manner as the Board of Trustees may direct.”
Savings Clause
We recommend that restriction on gifts be stated in broad and flexible terms, since the School’s specific needs may change over time. If your bequest is restricted for a particular purpose, we ask that you incorporate a “savings clause,” which might read as follows:
“If at the time this bequest is received by St. Andrew’s-Sewanee School, or any time thereafter, the Board of Trustees of the School determines that all or any part of the bequest can no longer be utilized to best advantage for the institutional purpose designated herein, then all or any part of the bequest may be used for such other institutional purpose which, in the sole discretion of the Board of Trustees, shall most closely carry out my intention.”
