We Can Receive Your Commercial Annuity 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 Kravis Center for the Performing Arts 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 doesn’t survive you.
- Seek the advice of your financial or legal advisor.
- If you include the Kravis Center in your plans, please use our legal name and federal tax ID.
Legal Name: The Raymond F. Kravis Center for the Performing Arts, Inc.
Address: West Palm Beach, FL
Federal Tax ID Number: 59-2245054
- Complete and return the Letter of Intent so that we may properly acknowledge you as a member of the Helen K. Persson Society.
- Contact Margaret May Damen, CFP®, CLU®, ChFC®, CAP® at 561.651.4230 or firstname.lastname@example.org for additional information on commercial annuities.
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.