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Planned Giving

Sustaining Sustainable Energy

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Planned giving, sometimes referred to as bequests or gifts from estates, is a future gift to a nonprofit(s) through your financial and estate plans. Energy Alabama welcomes planned giving and would be happy to discuss options with you. We can help you learn more about how to name Energy Alabama as a beneficiary of your will and find out how retirement plans are avenues for tax-efficient bequests.

Understand the Ways to Give

You can make a bequest to Energy Alabama for a percentage of your estate or a specific dollar amount. You can designate your bequest for general use or you can restrict its use. Some people establish endowments that honor the memory of a family member or another loved one. These endowments live forever since only the income is used annually.
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  • Residuary bequests are used to give all or a portion of the rest, residue, and remainder of your estate after payment of expenses and any specific amounts designated to other beneficiaries.
  • Specific bequests are used to make a gift of a specific dollar amount or specific assets, such as securities, real estate, or personal property.

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Example Language

We have included several examples of suggested bequest wording that you may use. Each individual situation is unique and, therefore, these examples include only some of the possible gift opportunities. We encourage you to share your final will provision(s) with us to ensure that your wishes will be properly followed and recognized, however this is in no way required.

  • Percentage of estate for unrestricted purposes
    I give, devise, and bequeath to the Energy Alabama, a nonprofit organization located in Madison, Alabama, _______ percent (%) of the rest, residue, and remainder of my estate as an unrestricted gift to be used at the discretion of the Board of Directors of Energy Alabama for the general purposes of organization.

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  • Specific amount for unrestricted purposes
    I give, devise, and bequeath to the Energy Alabama, a nonprofit organization located in Madison, Alabama, the sum of $____________ in cash or in-kind (or ____________ shares of _____________ stock)to be used at the discretion of the Board of Directors of Energy Alabama for the general purposes of organization.
  • Specific amount for specific purposes
    I give, devise, and bequeath to the Energy Alabama, a nonprofit organization located in Madison, Alabama, the sum of $____________ in cash or in-kind (or ____________ shares of _____________ stock) to be used for __________________________________________ at Energy Alabama. 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 Energy Alabama may re-designate the purpose to adhere as closely as possible to my original intent.

Note: Should you need assistance, we are happy to provide sample language for the program(s) you may wish to support.

Designating the purpose of a bequest:

  • Unrestricted: The most useful type of bequest is unrestricted, allowing the funds to be allocated by Energy Alabama wherever the need is greatest.
  • Restricted: You may designate your bequest to support a special program or purpose that reflects your personal or professional interest (for example: policy/advocacy or educational scholarships).
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If the bequest is restricted to a specific purpose, it is important that the following wording be added at the end of the provision. This will ensure that, in the remote possibility a field of study or specified purpose may cease to need funds in the future, an alternate use for the bequest may be determined.

\”….. for so long as the Board of Directors of Energy Alabama determines that the need exists. Should the need no longer exist, said Board of Trustees may, in its sole discretion, direct the use of my bequest for a purpose related as closely as possible to that stated above.\”

The information presented on these web pages is not offered as legal or tax advice. You are urged to seek the advice of your tax advisor, attorney, and/or financial planner to make certain any gift you are considering fits well in your specific circumstances.

 

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To discuss in more detail, please contact:

Daniel Tait
Chief Operating Officer
(256) 812-1431
dtait@energyalabama.org

 

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