Since the Central Park Conservancy's founding in 1980, both the organization and the Park have benefited greatly from thoughtful friends who've included the Conservancy in their wills.
Your bequest to the Conservancy will qualify your estate for a charitable deduction equal to the entire amount of the bequest. A bequest can be in the form of a dollar amount, specified asset, and/or a percentage of property remaining in your estate. A bequest can even be contingent upon an event or the existence of certain circumstances.
Types of Bequests
An unrestricted bequest for the general purposes of the Conservancy is the simplest and most helpful kind of bequest. Since the Park is living, growing, and changing, an unrestricted bequest permits the Conservancy to decide the most valuable use of your gift at that time.
The following language is suggested for use in making an unrestricted bequest:
"I give (the sum of ____ dollars), (all or ____ percent of the residuary of my estate) to the Central Park Conservancy, Inc., New York, New York, for its general purposes."
To make a restricted bequest, for a specific purpose, the following language is suggested:
"I give (the sum of ___ dollars), (all or ___ percent of the residuary of my estate) to Central Park Conservancy, Inc., New York, New York, for the following purpose: (state the purpose)."
If you choose to restrict your bequest, inclusion of the following language allows for flexibility in the event your designation is no longer applicable to Central Park's needs:
"If at any time in the judgment of the Trustees of Central Park Conservancy 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 Conservancy, giving consideration, where possible, to my special interest as described above."