“I give, devise and bequeath ___________*____________ to the Emmett and Miriam McCoy College of Business Administration Development Foundation, EIN 72-1579293, (Foundation) for the use and benefit of the McCoy College of Business Administration (College) at Texas State University located in San Marcos, Texas.
This gift shall be used in support of (state purpose).
This gift shall be used to create the (name of endowment**) as a permanent endowment for the benefit of the (COLLEGE, DEPARTMENT, PROGRAM). Funds distributed from the endowment shall be used to (state purpose).
In accordance with the policies and procedures of the Foundation, these endowment funds may be merged or comingled with other funds held by the Foundation for investment purposes. Funds distributed from the endowment in a year may be retained and expended for the purposes of
the endowment in subsequent years and a portion may be designated, at the discretion of the Foundation Board of Directors, as a permanent addition to the principal of the endowment.
All additions to the endowment, once established, made by any party, shall be subject to the provisions of this bequest and shall be considered permanent endowment funds. If in the mutual opinion of the University President and the Foundation Board of Directors, future circumstances change so that the purposes for which the endowment is established become illegal, impracticable, or no longer able to be carried out, an alternative use, that is mutually agreed upon by the University President and the Foundation Board of Directors, for the endowment payout may be
designated to further the objective of the College in the spirit of my/our original purpose.
Annually, the Foundation Board of Directors may determine a prudent inflationary rate that will be applied to the income of the endowment for the year. The resulting amounts may be designated as permanently restricted income and added to the principal of the endowment.”
*Some items commonly addressed in this area include:
**Endowments may be set up naming the donor or an honoree with or without the purpose included in the name, for example:
Mr. and Mrs. John Doe Endowed Scholarship for Marketing Students
John and Jane Doe Endowed Scholarship for Accounting Students
Jane Smith, Ph.D. Endowed Professorship in Management
Jane and John Doe Endowed Chair
Jane Doe, Ph.D. Excellence Endowment for the McCoy College of Business
John Smith Endowed Chair in Finance
Computer Information Systems Excellence Endowment
The preceding are intended as examples only to show various ways that endowments may be titled. They are not to be interpreted as the only acceptable language. For more information, clarification, or for information on the minimum funding required for certain endowments, please
contact the Foundation office.
The McCoy College Foundation is happy to be of assistance in helping you accomplish your philanthropic goals. If you would like to have a confidential visit with a foundation representative, please contact the office at 512-245-4358.