Make a Gift in 3 Easy Steps
Download our FREE guide "Beneficiary Designations: The 3 Easiest Ways to Leave Your Legacy."View My Guide
Not everyone wants to commit to making a gift in their wills or estates. Some prefer the increased flexibility that a beneficiary designation provides by using:
- IRAs and retirement plans
- Life insurance policies
- Commercial annuities
It only takes three simple steps to make this type of gift. Here's how to name the Chi Omega Foundation as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank, or financial institution for a change-of-beneficiary form.
- Decide what percentage (1 to 100) you would like Chi Omega to receive and name the Chi Omega Foundation, along with the percentage you choose, on the beneficiary form.
- Return the completed form to your plan administrator, insurance company, bank, or financial institution.
An Example of How It Works
Robert and Carol treasure the financial help they've been able to give their daughters and the Chi Omega Foundation over the years. The couple recently updated their will to leave stocks and real estate to their daughters. They left the Chi Omega Foundation a $75,000 IRA to be transferred following their lifetime. Because the Chi Omega Foundation is tax-exempt, all $75,000 will help support our mission.
If Robert and Carol had left the IRA to their daughters, approximately $18,000* would have gone to pay federal income taxes—leaving only $57,000 for their family's use. Robert and Carol are happy knowing they are making the most of their hard-earned money thanks to their updated estate plan.
*Based on an assumption of a 24 percent marginal income tax bracket.
See How It Works
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- Contact Sally Stephens Kimball at 901.748.8600 or email@example.com for additional information on beneficiary designations and how they can help support the Chi Omega Foundation with our mission.
- Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
- If you name the Chi Omega Foundation in your plans, please use our legal name and federal tax ID.
Legal Name: Chi Omega Foundation
Address: 3395 Players Club Parkway, Memphis, TN 38125
Federal Tax ID Number: 31-0936294