Skip to main content

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

In the video below, 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

Donor Advised Funds: How to Foster Relationships with Fundholders

Learn how to steward donor advised fundholders to sustain your organization.

Learn More

Donor Advised Funds: A Helpful Guide for Nonprofits

Learn how donors can support your nonprofit through their donor advised funds in part one of this three-part series.

Learn More

Connecting Nonprofits With Volunteers

See how the Saint Paul & Minnesota Foundation works with Catchafire.

Learn More

Hastings Family Service Expands its Reach

Working with the Saint Paul & Minnesota Foundation has helped grow this local nonprofit’s community impact.

Learn More

Building Capacity and Nonprofit Leadership with the Management Improvement Fund

Learn how the Management Improvement Fund helps small and midsize nonprofit organizations build and grow their capacity.

Learn More

How to Turn Your Board Members into Your Biggest Advocates

Nonprofit Strategies Manager Beth McCray shares her tips for recruiting and engaging nonprofit board members.

Learn More

Working with Nonprofits - An Auditor’s Perspective

Learn how auditor Cathy Lydon works with nonprofits and her tips for choosing an accountant.

Learn More

GET MONTHLY STORIES, NEWS AND UPDATES

JOIN
US!

* Indicates a required field