Legacy Giving

liz

May 22, 2019

Create a Lasting Legacy Through the Power of Giving

Do you believe in our mission and want future generations to experience the benefits of a regular yoga practice, healing arts, affordable clothing & accessories, as well as healthy foods? Please consider creating a Legacy Gift to share your abundance long after you are gone.

One of the simplest ways to make a Legacy Gift is by naming Asheville Community Yoga in your will. A bequest is a meaningful way to support the ongoing mission of Asheville Community Yoga without affecting your cash flow during your lifetime. Your attorney can include it when you prepare or revise your will, or you can add a codicil at any time. There are several types of bequests, including specific, residuary, and contingency as described below and can be made with or without restrictions:

A Specific Bequest

A specific bequest indicates the amount of cash, securities, or other assets you wish to leave to benefit Asheville Community Yoga. You may also indicate a specific percentage of the total value of your estate or for specific assets, such as securities, real estate, or personal property. Please be as specific as possible in identifying the asset.

I give, devise, and bequeath to Asheville Community Yoga, my [insert description or identifying information of the asset], to be used and/or disposed of, as the Board of this nonprofit determines, in its sole discretion, for its benefit.”

A Residuary Bequest

A residuary bequest leaves the remaining “residual” portion of your estate (or a percentage of the total) after all other bequests have been satisfied.

Sample Language for a Residuary Bequest

“I give, devise, and bequeath to Asheville Community Yoga, __% of the rest, residue, and remainder of my estate as an unrestricted gift, to be used at the sole discretion of the Foundation.”

A Contingency Bequest

You can make Asheville Community Yoga the recipient of a contingency bequest, which takes into account the possibility of a change in your beneficiary’s circumstances. For example, you might leave Asheville Community Yoga a bequest if another heir predeceases you.

Sample Language for a Contingency Bequest

“I give, devise, and bequeath [insert beneficiary name] __%  of the rest, residue, and remainder of my estate if s/he survives me. If [insert beneficiary name] does not survive me, I give, devise, and bequeath to Asheville Community Yoga, __ % of the rest, residue, and remainder of my estate as an unrestricted gift, to be used at the sole discretion of the Asheville Community Yoga.”

Unrestricted and Restricted Gifts

Gifts that do not restrict Asheville Community Yoga’s use (unrestricted gifts), are especially appreciated by Asheville Community Yoga as they allow the Board to channel resources where the needs are the greatest.

Asheville Community Yoga is equally grateful for gifts that are designated for a specific purpose that advances its mission (restricted gifts), such as support to a specific initiative or program like Healing Arts, a Teacher Training Scholarship, Staff Continuing Education & Benefits, Diversity, Equity, and Inclusion Trainings for Staff, Karma Café, or Campus Support (building, parking, land, solar) for example.

If you are interested in making a restricted bequest, it is important that you include the following “alternative use” language to ensure that Asheville Community Yoga may re-designate the use of your gift if the specified initiative, program, or purpose ceases to exist or does not require funds at some point in the future:

Sample Alternative Use Language for Restricted Bequests

“I give, devise, and bequeath to Asheville Community Yoga the sum of dollars ($ X.XX) to be used for the [insert name of Asheville Community Yoga program] for so long as Asheville Community Yoga determines that the need exists. Should the program or its funding need no longer exist, Asheville Community Yoga may, in its sole discretion, direct the use of my bequest for a purpose related as closely as possible to my original intent.” 

If you have already included Asheville Community Yoga in your will please let us know.

If you wish to name Asheville Community Yoga in your estate plan, please name us as:

Asheville Community Yoga Center Inc. is a nonprofit organization, organized and existing under the laws of North Carolina, with principal business address of 8 Brookdale Rd, Asheville NC 28804. Federal Tax ID#37-1636382

If you would like to discuss the possibility of leaving a bequest to Asheville Community Yoga please reach out to Michael Greenfield, Executive Director  at Michael@ashevillecommunityyoga.com.

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