Charitable Planning (MOCI)

Plan for Future Giving

Memorandum of Charitable Intent (MOCI)

When you name the Community Foundation for Monterey County (CFMC) as your charitable beneficiary, you create a lasting legacy. A Memorandum of Charitable Intent (MOCI) (pronounced “Mo-chee”) is a simple document to help you create and direct gifts from your estate or donor advised fund, whether through your will, living trust or beneficiary designation.

This simple, flexible process is a complimentary service designed to give you peace of mind in knowing your wishes will be fulfilled.

Easy

For estate gifts, the MOCI instructs us how to direct your gift. Your successor trustee or executor only needs to write one check.
For fund holders, your MOCI instructs us on the future use of your fund.

Expert Guidance

The CFMC team offers years of trusted community knowledge. We will work with you and your professional advisors to create the plan that best suits your charitable goals.

Stewardship

We check in with you periodically to ensure your MOCI continues to reflect your charitable interests, and will carry out your charitable wishes in the future.

Flexible

Your charitable interests may change over time. You can easily update your MOCI at no cost. There is no need to change the original will or living trust documents.

It’s reassuring to know that my legacy gift will be secure and my wishes fulfilled properly and professionally. Working with the CFMC has been a true gift.” – Tonya Antle, Rick and Tonya Antle Fund, Legacy Society member

Your Gift + Your Instructions = Peace of Mind

DECIDE
There are many options to make a gift through your estate or donor advised fund.
NAME
Include the following bequest language in your will or living trust:
“This gift will be made to Community Foundation for Monterey County (CFMC), EIN #94-1615897, a 501(c)3 nonprofit organization, to be directed as described in my most recent Memorandum of Charitable Intent on file with the organization.”

To name the CFMC as the beneficiary of your retirement plan or life insurance policy, the beneficiary name is:
“Community Foundation for Monterey County, EIN #94-1615897, per MOCI.”
INSTRUCT
Work with us to determine what you want done with your gift. You get to decide the causes, nonprofit(s), amount(s) and timing.

Sample MOCI Scenario

MOCI Scenario

Your MOCI is completely customized according to your wishes. Following is a sample scenario.

SAMPLE MOCI SCENARIO — DANIEL AND EVA GOMEZ

Daniel and Eva Gomez are long-time Community Foundation for Monterey County (CFMC) donors. They have asked their estate planning attorney to direct 10% of their estate to the Foundation. They estimate that this will result in a gift of about $100,000.• In 2015 they established a Donor Advised Fund, the Daniel and Eva Gomez Fund, at the CFMC to recommend grants to their favorite nonprofits.

• Their donor advised grants support programs for children and youth and arts and cultural organizations
• Daniel and Eva also believe strongly in giving local students access to higher education.
• The couple share a life-long interest in hiking and enjoying the beauty of the outdoors.
• Eva’s mother, Maria Martinez, passed away last year from cancer. Eva received compassionate end-of-life care from local agencies and wanted to honor her mother’s memory.

Memorandum of Charitable Intent regarding charitable distributions from the estate of Daniel and Eva Gomez to CFMC

The purpose of this Memorandum of Charitable Intent is to serve as a guide to the Community Foundation in carrying out the philanthropic objectives of Daniel and Eva Gomez (Donors). Donors have stated that assets directed from their estate to the Daniel and Eva Gomez Fund of the CFMC, net of support fees, be used for the following charitable purposes:

1. Additions to Existing Community Foundation for Monterey County Funds:
10% to the Daniel and Eva Gomez Fund
10% to the Fund for the Monterey County (the CFMC grantmaking endowment to meet changing community needs)
10% to the College Futures Monterey County Scholarship Fund
30% Subtotal this section

2. New Fund(s) to be Created at the Community Foundation for Monterey County:
25% to create Daniel and Eva Gomez Fund for the Arts
25% to create the Maria Martinez Fund, an endowed fund to benefit organizations providing end-of-life care
50% Subtotal this section

In the event that the allocations for new funds do not meet the CFMC’s minimum for new funds at the time of distribution, the allocations will be added to the Fund for Monterey County to benefit arts and end-of-life care.

3. Pass Through Gifts:
$5,000 to Community Partnership for Youth
$5,000 to Youth Arts Collective
$10,000 to Big Sur Land Trust
$20,000 Subtotal this section

100% TOTAL (all sections % to total 100%)

In the event that an organization listed above is not in existence at the time funds are distributed, then the CFMC will direct the gifts to nonprofit organizations that match the donors’ charitable purpose.

Disclosures:
Gift Acceptance: All gifts are subject to the Community Foundation Gift Acceptance Policies. CFMC Support Fee: All bequests are subject to a one-time fee to assist in covering costs related to the receipt of the bequest, and to support the CFMC’s programs and services. The fee, set by the CFMC board of directors, is currently 2%.

Donors’ Review and Confirmation
We have reviewed this Memorandum of Charitable Intent and confirm that it reflects our wishes. We understand that I/we have the right to update this Memorandum at any time.
__________________________________________
Daniel Gomez, Donor Date
__________________________________________
Eva Gomez, Donor Date

This Memorandum of Charitable Intent is for sample purposes only. The CFMC Philanthropic Services team works with you to customize your instructions according to your wishes.