A Smart Gift to Leave to St. Philip the Deacon
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, St. Philip the Deacon 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.
- Contact Pastor Tim Westermeyer at (763) 475-7136 or email@example.com for additional information on commercial annuities.
- Seek the advice of your financial or legal advisor.
- Determine the recipient of your gift, naming either St. Philip the Deacon or St. Philip the Deacon Foundation.
- If you include St. Philip the Deacon in your plans, please use our legal name and federal tax ID.
Legal Name: St. Philip the Deacon Lutheran Church OR St. Philip the Deacon Foundation
Address: 17205 County Road Six, Plymouth, MN 55447
Federal Tax ID Number: Please contact us for our federal tax ID number.