Thank you for your interest in making a planned gift to First Universalist Church. Here you will find basic information about how to make a planned gift, including examples of simple language you may want to use in your legal documents. The First Universalist Planned Giving Team is available to answer any questions or address any concerns you may have.

When you let us know of your intended bequest, you will join other generous First Universalist members who share a commitment to a strong future for our liberal faith community for times we shall never see. We will be delighted to welcome you as a member of our Heritage Circle.

Please note that this information is provided for general information purposes only and is not intended to be legal or financial advice. We encourage you to consult with your financial planner and/or an attorney as you make your decisions regarding planned giving.

General Information Your Attorney May Want to Know

First Universalist Church is an IRS-qualified 501(c)(3) organization. We are a member in good standing of the Unitarian Universalist Association. First Universalist’s federal identification number (FEIN) is 41-0696900. A completed IRS Form W-9 Request for Taxpayer Identification is available upon request. For tax purposes, bequests, legacies, devises, or transfers to the Church are deductible as they accord with the provision of the Internal Revenue Code Section 2055(a) and related regulations.

Types of Bequests

Unrestricted Bequest: This type of bequest is especially appreciated because it gives the Church maximum flexibility. The Church’s Board of Trustees sets the policy with regard to usage of Unrestricted Bequests. The Legacy Fund was established as the default repository for “unrestricted bequests.” Learn more about the Legacy Fund below.

Restricted Bequest: The Church welcomes restricted gifts, and a member of the Planned Giving Team can assist you in crafting language that is appropriate for your intentions. We suggest that you consider designating your bequest for one of the following Funds:

•  Legacy Fund: an invested fund whereby annual distributions are not to exceed seven percent of the fair market value of the fund as determined by the Board of Trustees. It is expected that there will be many years when less than seven percent is distributed. Church Bylaws allow that upon recommendation of the Board of Trustees and a two-thirds approval of the members voting on resolution, more than seven percent may be distributed.
•  Cummins Fund: an invested fund whereby annual distributions will help ensure that First Universalist remains a teaching church, providing internships for UU ministerial students, in honor of our Minister Emeritus, Reverend John Cummins.
•  First Universalist Foundation: an invested fund that makes grants to support the social justice efforts of non-profit community-based organizations and to First Universalist Church for its Social Justice efforts.

Investment policies for the Legacy Fund, Cummins Fund, and the Foundation are available upon request.

How to Make a Bequest

Both unrestricted and restricted bequests are made in the following ways:

•  Specific Bequest: A specific asset or collection of assets, in the form of cash, securities, or other property.  Retirement plan benefits, IRAs, savings bonds, and other items known as “income with respect to the decedent” (IRD) are particularly tax effective gifts to charity. You may designate an amount or a percentage of the property. Designating First Universalist as a beneficiary of your IRA is a particularly easy and inexpensive way to make a planned gift to the Church.
•  Residuary Bequest: All or a percentage of what remains of your estate after all specific bequests have been satisfied and debts and expenses have been paid. You may specify that  charitable gifts be fulfilled first with IRD assets to the extent needed to reduce your tentative estate.
•  Contingent Bequest: Gives all or a portion of your estate in the event that a named beneficiary is not alive when you die. This type of bequest can avoid costly litigation or prevent property from reverting to the state for lack of heirs.
•  Testamentary Charitable Remainder Trust: This is a tool to consider if you wish to provide for someone after you die, and want to provide a charitable gift too. A trust document is created during your lifetime, with a “pour-over” will to designate which assets are to be placed in a trust with income paid to one or more beneficiaries for their lifetimes. Upon the death of the last income recipient, or after a term of a specified number of years, the trust terminates and assets are transferred to First Universalist Church, completing your gift.

Helpful Language

Please share the following language with your attorney to assist in drafting a will or codicil that will achieve your charitable estate plans.

•  General Bequest: I give all my real and personal property to First Universalist Church, a Minnesota Charitable corporation, located at 3400 Dupont Avenue South in Minneapolis, Minnesota, for its unrestricted use.
• Specific Bequest: I give ($ amount, description of property, or % of real estate) to First Universalist Church, a Minnesota charitable corporation, located at 3400 Dupont Avenue South, in Minneapolis, Minnesota, for its unrestricted use.
• Residuary Bequest: I give all (or         %) of my remaining assets of any kind to First Universalist Church, a Minnesota charitable corporation, located at 3400 Dupont Avenue South, in Minneapolis, Minnesota, for its unrestricted use.
• Restricted Bequest for a Specific Purpose: I give      $ amount, description of property, or % of real estate) to First Universalist Church, a Minnesota charitable corporation, located at 3400 Dupont Avenue South, in Minneapolis, Minnesota, restricted to (describe or name a First Universalist Fund or Program). If at any time in the judgment of the First Universalist Board of Trustees it is deemed impossible or impractical to carry out the above purpose, the Board of Trustees shall have the power to modify or eliminate any restriction, condition, limitation or trust imposed with respect to any funds or property the title to which has become vested in this corporation if, in the sole judgment of the Board of Trustees, such restriction, condition, limitation or trust becomes unnecessary, incapable of fulfillment or inconsistent with the charitable needs of the community or area served by the corporation.

For more information, please contact a member of the Planned Giving Team or a minister at 612-825-1701.