Skip to main content

Why Beneficiary Designations Should Be Part of Your Fundraising Plan

Beneficiary designations can be a great way for donors to leave a lasting legacy for organizations they love and support.

In the video above, we explore what beneficiary designations are, and how your donors can use this simple, life-planning tool to support your nonprofit.

What is a beneficiary designation?

A beneficiary designation names the person(s) you want to receive a specific asset upon your passing ― listing your spouse or children as beneficiaries on a life insurance policy, for example.

How Beneficiary Designations Can Work for Your Donors

Beneficiary designations are easy to set up and don’t require donors to change their will. They are also flexible options and can be changed at any time.

In addition to their loved ones, donors can also use beneficiary designation to support the causes they care about. For example, they can list a charity they have supported as a beneficiary of their IRA, bank accounts or life insurance policies.

Beneficiary designations are part of an overall estate planning process ― all a donor needs to do is contact their financial institution to request the appropriate forms. Donors can name one or multiple beneficiaries. For example, a donor can use some of their assets to make a legacy gift and use the rest of their assets to provide for family members or other loved ones.

For more information on beneficiary designations, watch our video above.

Then, when you’re ready to add beneficiary designations to your fundraising plan, schedule a strategy session with Mariah Brook or Beth McCray, our nonprofit gift planning specialists.

More Stories

Read Books That Encourage You to Give, Stand and Lead

Books That Encourage You to Give, Stand and Lead

Foundation staff and nonprofit leaders recommend their top summer reads for nonprofit employees.

Learn More
Watch Qualified Charitable Distributions in Retirement Video

Qualified Charitable Distributions in Retirement

In this video, we explore how donors can efficiently turn retirement income into a charitable donation.

Watch the video
Read Investment Update for Nonprofit Fundholders

Investment Update for Nonprofit Fundholders

Our Chief Investment Officer Shannon O'Leary provides an update on the performance of the multi-asset endowment portfolio.

Learn More
Read How to Steward Donors During COVID-19

How to Steward Donors During COVID-19

Top five fundraising tips to help manage your current donor relationships

See the recommendations
Read Six Things to Read & Watch about the Changing Fundraising Landscape

Six Things to Read & Watch about the Changing Fundraising Landscape

How should nonprofits approach planned giving and major gift fundraising right now?

See the recommendations
Read How to Make Your Nonprofit Endowment a Successful Source of Income

How to Make Your Nonprofit Endowment a Successful Source of Income

Here are tips from our nonprofit partners on establishing a successful endowment fund.

Learn More
Read How to Build a Successful Endowment Fund

How to Build a Successful Endowment Fund

Tips on how to build and grow your nonprofit endowment fund, from nonprofits with a successful endowment fund

Learn More
Read Establish an Endowment, Create a Legacy

Establish an Endowment, Create a Legacy

Why establishing an endowment fund is beneficial to your organization’s future.

Learn More

COMMUNITY IS OUR COMPASS

JOIN
US!

* Indicates a required field