Donors who remember our nonprofit organization in their wills benefit the institution in many ways, helping to support annual programs and providing indispensable support for exhibitions, classes and a wide range of educational activities. A bequest is one of the simplest ways to provide for Oklahoma Contemporary’s future and can take many forms.
You may arrange for the arts center to receive:
- A specific dollar amount
- Specified assets, such as securities, real estate or tangible personal property
- All or a percentage of the remainder of your estate after all other obligations (a residuary bequest)
- A contingent bequest, making Oklahoma Contemporary the beneficiary only if the named beneficiary is unable to accept the bequest
You may make a bequest to Oklahoma Contemporary by preparing a new will or adding a codicil to your present will. An outright bequest to Oklahoma Contemporary is fully deductible for estate-tax purposes.
Suggested language for donors making a bequest
Unrestricted bequest
"I give, devise and bequeath [the sum of ____ dollars], [all or ____ percent of the rest, remainder and residue of my estate of every kind and description (including lapsed legacies and devises)] to Oklahoma Contemporary Arts Center, 11 NW 11th St., Oklahoma City, OK 73103, for its general corporate purposes."
Specific/restricted purpose
"I give, devise and bequeath [the sum of ____ dollars], [all or ____ percent of the rest, remainder and residue of my estate of every kind and description (including lapsed legacies and devises)] to Oklahoma Contemporary Arts Center, Inc. 11 NW 11th St., Oklahoma City, OK 73103, to create an endowment fund that, subject to the art center’s endowment spending rule, is to be used for the following purpose: [state the purpose]."
Important note: If you do specify a use for your bequest, the following language will ensure that your gift will always remain productive: "If at any time in the judgment of the Trustees of Oklahoma Contemporary Arts Center the designated use of this bequest is no longer practicable or appropriate, then the Trustees shall use the bequest to further the general purposes of the arts center, giving consideration, where possible, to my special interest as described above."
Contributing a planned gift in support of Oklahoma Contemporary’s future qualifies you for membership in the Ars Longa Planned Giving Society, inspired by the phrase “Ars longa vita brevis,” meaning “life is short, but art endures.” The Ars Longa Planned Giving Society celebrates donors who contribute a planned gift to Oklahoma Contemporary.
If you have already included Oklahoma Contemporary in a bequest or other planned gift, we hope you will let us know so you can be recognized as a member of this distinct group.
Oklahoma Contemporary always suggests you consult with your attorney or estate expert prior to making a donation.
Image:
Photo: Ann Sherman.
