A Smart Gift to Leave to Iowa State University
We Can Receive Your Commercial Annuity Tax-Free
Like retirement plan assets, 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, Iowa State University can receive your commercial annuity completely tax-free. The best way to give a commercial annuity in support of Iowa State 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.
- Contact the office of gift planning at 800.621.8515 or firstname.lastname@example.org for additional information on commercial annuities.
- Seek the advice of your financial or legal advisor.
- If you include Iowa State in your plans, please use our legal name and federal tax ID.
Legal Name: The Iowa State University Foundation
Address: Ames, Iowa
Federal Tax ID Number: 42-1143702
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
For more information, please contact any member of our gift planning staff: Rob Kinsey, Kelly Allen, Joe Nolte, Rhonda Fitchett, Alyssa Ehrich, Gregg Hinders or Sandy Clarke.