Commercial Annuities
Utilize your existing commercial annuity and make your gift 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, the Marine Corps Scholarship Foundation 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 the Marine Corps Scholarship Foundation 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.
Not Sure How to Begin Planning?
Next Steps
- Contact our Planned Giving team at 703.549.0060 or plannedgiving@mcsf.org for additional information on commercial annuities.
- Seek the advice of your financial or legal advisor.
- If you include 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
Gifts That Pay
Learn more about the many benefits of a charitable gift annuity in our FREE guide
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide
.
Not Sure How to Begin Planning?
A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.
You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to the Scholarship Foundation as a lump sum.
You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to the Scholarship Foundation as a lump sum.