Planning for a charitable gift doesn’t have to be cast in stone

Language for your Will, Trust, Life Insurance and IRA Designations

Community Foundation Santa Cruz County can provide you flexibility for your charitable interests as they change over the years through a Memorandum of Charitable Intent (MOCI - pronounced “Moh-chee”).

Creating your will, trust and beneficiary designation can be overwhelming. We have found that the easiest and most flexible way to plan charitable gifts is to use a MOCI.

A MOCI is a simple document that we help you create. It describes how you wish us to distribute charitable gifts from your will, living trust, beneficiary designation, or other charitable planned gift.

When you have a simple MOCI on file with us, your bequest states only Community Foundation Santa Cruz County and refers to the MOCI that we keep for you at the Foundation. Bequests may be used to add to existing funds at the Foundation, to establish a fund or funds at the Foundation, or a combination. Bequests may also be passed through to charitable organizations other than the Foundation.

The MOCI has two advantages. First, it allows you to change the purpose of your gift without changing the will, trust or beneficiary forms. We keep the signed MOCI on file, periodically sending you a copy to review. Second, if your interests change, the MOCI can be easily updated at no cost. You do not need to change the original trust or will documents.

The MOCI allows you great flexibility in addressing multiple charitable interests via the Foundation.

Suggested Language for Wills and Trust with a MOCI

We recommend using the MOCI in your planning. When you name the Foundation as a beneficiary of a gift in your will or living trust, simply include the following language:

“... to Community Foundation Santa Cruz County, EIN 94-2808039, a 501(c)3 nonprofit organization, to be directed as described in the most recent Memorandum of Charitable Intent on file with the organization.”

Suggested language for life insurance policy or an Individual Retirement Account

If you wish to name the Foundation as the beneficiary of a life insurance policy or an Individual Retirement Account, the beneficiary name would be:

“Community Foundation Santa Cruz County, EIN 94-2808039, per MOCI”

Suggested Will or Living Trust Language

You can use the following language if you prefer to have charities named directly in your Will or Trust rather than a MOCI:

I direct that all remaining assets comprising my estate (or a percentage, fixed amount, or particular asset) shall be distributed to Community Foundation Santa Cruz County, a 501(c)3 nonprofit organization (tax ID# 94-2808039), to be directed as follows: (provide names and EIN number of other charities and/or purpose of gift at the Foundation).

Written by

Sam Leask

To learn more, please contact Sam Leask, Philanthropic Services Director, at sleask@cfscc.org or (831) 662-2060.