What happens when I leave a bequest to my fund at the community foundation? Many donors and fund holders at the FM Area Foundation have updated their estate plans to leave a bequest to their donor-advised or other type of fund. Some bequests take the form of a "specific bequest," meaning that the FM Area Foundation fund receives a specific amount of money from the donor's probate estate or trust. For example, for a specific bequest, your advisor might include a provision in your will as follows: I bequeath $XX, XXX to Fargo-Moorhead Area Foundation Corporation, 409 7th St. S, Fargo, ND 58103, a North Dakota nonprofit corporation, or its successor, Federal Tax Identification Number 456010377 a tax-exempt organization under Internal Revenue Code Section 501(c)(3), to be added to the [Name of Your Fund], a component fund of The FM Area Foundation, and I direct that this bequest become part of the Fund. In these situations, the FM Area Foundation will be ready to receive your bequest, typically as soon as the estate is settled. In other situations, you may want to leave a bequest of a portion of the remainder of your estate after all specific bequests, expenses, and taxes have been paid. These types of bequests are called "residuary" bequests. The language can look something like this: I leave all the rest and residue of my property, both real and personal, of whatever nature and wherever situated, and assets, including all real and personal property, tangible or intangible, to Fargo-Moorhead Area Foundation Corporation, 409 7th St. S, Fargo, ND 58103, a North Dakota nonprofit corporation, or its successor, Federal Tax Identification Number 45-6010377 a tax-exempt organization under Internal Revenue Code Section 501(c)(3), to be added to the [Name of Your Fund], a component fund of The Community Foundation, and I direct that this bequest become part of the Fund.
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409 7th St S. Fargo, ND 58103