What is a Bequest?
Charitable bequests are gifts that donors contribute to a nonprofit organization through their wills. Bequests – like the one the Muschanys made to JASC – are an important source of support for charities and often the largest gift that supporters will ever make to the causes they hold most dear. Bequests are easily tailored to a donors individual needs. Remembering ISC or another charity in a will or living trust can be made as a specific dollar amount, a specific piece of property, a percentage of the total estate, or as the residue of the estate after everyone else has received their inheritance. In addition, charitable bequests are tax deductible when determining estate taxes. Most bequests are given to ISC without designation where the funds are meant to be utilized. ISC has a gift receipt policy that dedicates such proceeds to the alumnis program (JASC or KASC) and then shares the gift between current needs and endowed funds for future use. This flexibility allows ISC to allocate
