Bequests

Many generous donors have made bequests to secure the future of HUMAA. A bequest can be accomplished in many ways, including through a will, codicil, or revocable trust, or by naming HUMAA as the beneficiary of a retirement plan or insurance policy. Bequests can be made with assets such as cash, publicly traded securities, and real estate and can benefit any area of HUMAA, including endowed scholarships.

 

Sample Bequest Language

The following includes several examples of suggested bequest wording to benefit HUMAA. Each individual situation is unique and, therefore, these examples include only some of the possible gift opportunities. We encourage you to share your bequest with HUMAA to ensure that your wishes will be properly followed and recognized.

Percentage of Estate for Unrestricted Purposes

I give, devise, and bequeath to HUMAA, a not-for-profit organization located in Washington, DC, _____ percent (%) of the rest, residue, and remainder of my estate as an unrestricted gift to be used at the discretion of the HUMAA Executive Board for the general purposes of HUMAA, located in Washington, DC (Tax ID number 52-0808438).

Percentage of Estate for Specific Purposes with an Endowment Provision

I give, devise, and bequeath to HUMAA, a not-for-profit organization located in Washington, DC, _____ percent (%) of the rest, residue, and remainder of my estate to establish the ____________________ENDOWED FUND. The principal of this fund shall be invested as part of HUMAA’s endowment and in accordance with its policies. The income therefrom is to be used by HUMAA, located in Washington, DC, for ____________________________________. Contributions may be added to the fund at any time.

If changed circumstances should at some future time make it impractical to continue using the income from the Fund for the purpose designated, then the HUMAA Executive Board may redesignate the purpose for which the Fund's income may be distributed, provided that the Fund shall continue to bear the name ________________ ENDOWED FUND and that the amended terms shall adhere as closely as possible to my original intent.

Specific Amount for Unrestricted Purposes

I give, devise, and bequeath to HUMAA, a not-for-profit organization located in Washington, DC, the sum of $_______ in cash or in-kind (or ________ shares of ________stock) to be used at the discretion of the HUMAA Executive Board for the general purposes of HUMAA and its related entities (Tax ID number 52-0808438).

Specific Amount for Specific Purposes

I give, devise, and bequeath to HUMAA, a not-for-profit organization located in Washington, DC, the sum of $_______ in cash or in-kind (or ________ shares of ________stock) to be used for __________________________________________ at HUMAA (Tax ID number 52-0808438).

If changed circumstances should at some future time make it impractical to continue using the income from the Fund for the purpose designated, then the HUMAA Executive Board may redesignate the purpose to adhere as closely as possible to my original intent.

Retirement Plan Beneficiary Language

You may name HUMAA as a beneficiary of your IRA or other qualified retirement benefits. Donors should consult with their tax advisor regarding the tax benefits of such gifts.

Naming HUMAA as the beneficiary of a qualified retirement plan asset such as a 401(k), 403(b), IRA, Keogh or profit-sharing pension plan will accomplish a charitable goal while realizing significant tax savings. It can be costly to pass such assets on to heirs because of heavy tax consequences. By naming HUMAA as a beneficiary of a retirement plan, you maintain complete control over the asset while living. At your death the plan passes to HUMAA free of both estate and income taxes.

Making a charitable gift from your retirement plan is easy and should not cost you any attorney fees. Simply request a change of beneficiary form from your plan administrator. When you are done, please return the form to your plan administrator and notify HUMAA. We can also assist you with the proper language for your beneficiary designation to HUMAA.

Customized Language

If you or your attorney would like HUMAA to provide you with customized beneficiary language that is specific to your goal and interest, please contact us.

Exact Legal Name: Howard University Medical Alumni Association Inc.

Address of Principal Office: 2225 Georgia Ave NW, Suite 801, Washington, DC 20059

State of Incorporation: District of Columbia

Tax Identification No: 52-0808438

Contact Person: Philippa Moore
Telephone: (202) 238-2588 or (202) 238-2586

E-mail: director@humaa.com

howard university medical
alumni Association, inc.

1400 16th Street NW, Suite 710
Washington, DC 20036
P: 202.803.2989


  

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