Bequest Information – Including the AREMA Educational Foundation in your Will
- The AREMA Foundation’s official name: The AREMA Educational Foundation
- The Foundation’s telephone number: +1.301.459.3200
- AREMA Educational Foundation identification: A not-for-profit organization under Section 501(c)(3) of the Internal Revenue Code
- AREMA Educational Foundation tax-exempt number: 54-1967188
Sample Language
“I give, devise and bequeath to the AREMA Educational Foundation for its general purposes [state fraction or percentage of the rest,residue and remainder] in my estate, both, real or personal.”
OR
“I give and bequeath to the AREMA Educational Foundation the sum of $_____________ to be used for the general purposes of the Foundation.”
To include a bequest solely for engineering scholarships, have your attorney include the following or a similar paragraph in your will:
“I hereby give, devise and bequeath to the AREMA Educational Foundation [whatever amount or percentage you so desire]. The use of this bequest is restricted to funding engineering scholarship grants approved by the AREMA Educational Foundation.”
Have you considered naming the AREMA Educational Foundation as one of the beneficiaries of your IRA, 401(k) or life insurance? All
- Contact the administrator of your retirement plan or IRA and request a beneficiary designation form.
- Complete the form naming the AREMA Educational Foundation as a beneficiary of all or a portion of the account.
- Return the form to the account administrator.
Endowment Funds
You or your company can directly fund railway/transit engineering educational activities and scholarships in perpetuity through these
special gifts. The principal amount of these funds is never invaded. Only investment income is used to fund the scholarships.
Establishing a New Endowment
Creating an endowment fund is a great way to directly support AREMA Educational Foundation programs. The annual distribution from the endowment will directly support Foundation scholarship grants. An endowment fund may be established in an individual or family’s name or in the name of a company and will support vital scholarship programs long into the future.
The minimum amount required to establish an endowment with the Foundation is $50,000. General scholarship criteria applies to all future endowments.
For additional information, please contact:
Beth Caruso, IOM, CAE
Executive Director/CEO
BCaruso@arema.org
Phone: +1.301.459.3200 Ext 701