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, the International Rescue Committee can receive your commercial annuity completely tax-free. The best way to give a commercial annuity in support of our work 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 does not survive you.
Sample Language for Your Will
Get the legal language to share with your attorney to make a gift in your will or living trust.
Federal tax ID number:13-5660870
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- Contact IRC's Planned Giving Team at (212) 551-2954 or email@example.com for additional information on commercial annuities.
- Seek the advice of your financial or legal advisor.
- If you include the IRC in your plans, please use our legal name and federal tax ID.
Legal name: International Rescue Committee, Inc.
Address: 122 East 42nd Street, New York, NY 10168-1289
Federal tax ID number: 13-5660870