Not everyone wants to commit to making a gift in their will or estate. 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 Marine Corps Scholarship Foundation as a beneficiary:

  1. Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
  2. Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you chose, on the beneficiary form.
  3. Return the completed form to your plan administrator, insurance company, bank or financial institution.

An Example of How It Works

Older couple smiling Robert and Carol treasure the financial help they've been able to give their children and the Scholarship Foundation over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left the Scholarship Foundation a $75,000 IRA to be transferred following their lifetime. Because the Scholarship Foundation is tax-exempt, all $75,000 will help support our mission.

If Robert and Carol had left the IRA to their children, approximately $21,000* would have gone to pay federal income taxes-leaving only $54,000 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 28 percent marginal income tax bracket.

See How It Works

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Next Steps

  1. Contact Lindsay Cameron at 571.386.2643 or lindsay.cameron@mcsf.org for additional information on beneficiary designations and how they can help support the Scholarship Foundation with our mission.
  2. Talk to your financial or legal adviser to learn which assets will or will not trigger taxable income when paid to a beneficiary.
  3. If you name the Scholarship Foundation in your plans, please use our legal name and federal tax ID.

Legal Name: Marine Corps Scholarship Foundation Inc.
Address: 909 N. Washington Street, Suite 400, Alexandria, VA 22314
Federal Tax ID Number: 22-1905062

Here to Help

Lindsay Cameron
Assistant Director, Gift Planning
571.386.2643
lindsay.cameron@mcsf.org

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Learn More

Download our FREE guide Beneficiary Designations: The 3 Easiest Ways to Leave Your Legacy.

Beneficiary Designations: The 3 Easiest Ways to Leave Your Legacy

Personal Estate Planning Kit

Make Sure You Have a Plan for All Your Assets

Download our FREE Personal Estate Planning Kit