A Smart Gift to Leave to Albion College
Like retirement plans, commercial annuities provide for tax-deferred growth while the owner is living. Because distributions from commercial annuities are subject to income taxes, they are often considered among the best assets to leave to charity. Due to our tax-exempt status, Albion College can receive your commercial annuity completely tax-free. The best way to give a commercial annuity to support liberal arts education and Albion students after your lifetime is to name us as beneficiary.
Making this gift is as simple as updating your beneficiary form with your bank or insurance company. You can designate us as the primary beneficiary for a percentage or specific amount. You can also make us the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary doesn’t survive you.
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Plan for Retirement With a Deferred Gift Annuity.
- Contact Albion College Office of Development at 517/629-0402 or firstname.lastname@example.org for additional information on commercial annuities.
- Seek the advice of your financial or legal advisor.
- If you include Albion College in your plans, please use our legal name and federal tax ID.
Legal Name: Albion College
Address: 611 East Porter Street, Albion, MI 49224
Federal Tax ID Number: Please contact us for our federal tax ID number.