You may name the Foundation in your will. Your will can include gifts in the form of property (cash, securities and personal property); a percentage of your estate; or the residue of your estate (property remaining after other bequests have been fulfilled). Here is sample language for a bequest to the Foundation:
I give and bequeath to the Lord Fairfax Community College Educational Foundation Inc. the sum of ______ dollars ($__) (or percentage of estate) for the use and benefit of Lord Fairfax Community College, in the manner and for the purposes determined by the discretion of the LFCC Educational Foundation Board.
I give and bequeath to the Lord Fairfax Community College Educational Foundation Inc. the sum of ______ dollars ($__) (or percentage of estate) for the use and benefit of the _________________________ Fund (name of scholarship or other fund) at Lord Fairfax Community College. This scholarship will be awarded annually to full- and/or part-time LFCC students. The scholarship award may be applied toward tuition, fees and books and will be divided equally between the fall and spring semesters. Satisfactory academic progress (minimum grade point average of _________________) must be maintained in order for the recipient to receive the award for the spring semester.
Please show this language to your attorney, who can adapt it to best suit your needs.