Commercial Annuities

A Smart Gift to Leave to St. Olaf College

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. Olaf College 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.

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Next Steps

  1. Contact us at 800-776-6523 or plannedgiving@stolaf.edu for additional information on commercial annuities.
  2. Seek the advice of your financial or legal advisor.
  3. If you include St. Olaf in your plans, please use our legal name and federal tax ID.

Legal name: St. Olaf College
Address: 1520 St. Olaf Avenue
Northfield, MN 55057
Federal tax ID number: 41-0693979

Personal Estate Planning Kit

Our Top Complimentary Resource

This comprehensive estate planning kit helps you protect your family and establish your legacy.

Download My Kit