Beneficiary Designation Gifts

A beneficiary designation is a simple and affordable way to make a gift to ministry that does not require an attorney. You can make a gift of your retirement, investment, or bank account or your life insurance policy.

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Make a Future Gift of Retirement Assets

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IRA web page

Notify us of your beneficiary designation gift

Your Name

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Thank you for considering a beneficiary designation gift to us. The website link will take you to your retirement plan custodian's website, where you may be able to log in and include Church of the Nazarene Foundation as a designated beneficiary. Another option is to use the phone number to call your retirement plan custodian. They will assist you in updating your beneficiary designation. If you would like to notify us of your generous beneficiary designation, please complete the Notify us of your Beneficiary Designation section.

Your Name

Your Address (Street or P.O. Box)

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Notify us of your IRA gift

Your Email

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Thank you for considering a IRA gift to us. A sample letter is available to send to your DAF provider. You may save and print the PDF of your letter. If you have email contact information for your DAF provider, you may send a PDF copy of your DAF letter or you may copy and paste the text into an email. You will need to enter the amount of your recommended grant and your DAF account number on the letter before mailing. If you would like to notify us of your generous gift, please complete the Notify us of your DAF Gift section.

Beneficiary Designation Gifts

Donor

Designation Form

Account Custodian

Property
(IRA/Investment)

Chosen Ministry

Benefits of a beneficiary designation gift

Support the ministries that are important to you
Continue to use your accounts as long as you desire
Simplify your planning and avoid expensive legal fees
Reduce the burden of taxes on your family
Receive an estate tax charitable deduction

How a beneficiary designation gift works

A Beneficiary Designation Gift can be made simply by completing the appropriate form given to you by your retirement plan administrator, life insurance company, or bank or investment broker. To complete your bequest, designate the Nazarene Foundation as full, partial, primary, or contingent beneficiary using the forms provided by each company, and then tell us how you would like those funds distributed.

Types of Beneficiary Designations

IRA, 401(k), 403(b), or pension accounts - these back the best gifts to charity as they are taxed twice when given to family
Investment (stocks or bonds) accounts - appreciated assets can cause significant tax burdens for your family
Checking or savings accounts - give these funds to ministry when you no longer need them
Life Insurance policies - for more information, please visit our page, What to Give - Life Insurance

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Flexibility—If you are interested in making a gift but are also concerned about your future needs, keep in mind that beneficiary designation gifts are among the most flexible of all charitable gifts. Even after you complete the beneficiary designation form, you can take distributions or withdrawals from your retirement, investment or bank account and continue to freely use your account. You can also change your mind at any time in the future for any reason, including if you have a loved one who needs your financial help.

Family Considerations—Beneficiary designation gifts allow you to provide for family and support the ministries that matter most to you. With a designation form you could, for example, name your spouse as the "primary" beneficiary and each of your children and the Foundation as "partial contingent" beneficiaries. With this arrangement, if your spouse survives you, he or she would receive the account. If not, the account or policy would be paid out to your children and the ministries you chose through the Foundation in whatever shares (or percentages) were written on the designation form.

Terminology—Common terminology is "beneficiary designation" but you might also see "payable on death" or "transfer on death." The term "beneficiary designation" is most commonly used when naming beneficiaries of retirement plans or life insurance policies. The term payable on death (or "POD") typically involves the designation of a beneficiary of a checking account, savings account, or CD, and transfer on death (or "TOD") often involves the designation of a beneficiary of stocks, bonds, or mutual funds.

Beneficiary Designations and Real Estate—Some states allow "beneficiary designation deeds" or "transfer on death deeds," which would allow you to name Church of the Nazarene Foundation as the survivor beneficiary of your home, farm or other real estate. As with other beneficiary designation gifts, these gifts are revocable by filing a revocation or new beneficiary designation deed.

Additional Materials
To download a brochure and learn more about Beneficiary Designation gifts, click here.
To download a brochure and learn more about Transfer on Death gifts, click here.
To download a brochure and learn more about Payable on Death gifts, click here.

***If you have made the Foundation a beneficiary of any of your accounts or insurance policies, please contact us to designate the church or ministry to which the funds will be distributed.

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