Gift of life insurance

There are three ways to give life insurance to ServeMinnesota:

  • Name us a beneficiary of the policy. This gift is as simple as updating your beneficiary designation form with the policy holder. 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.

  • Make an outright gift of an existing policy. You can name us as owner and beneficiary of an existing policy. You qualify for a federal income tax charitable deduction when you itemize on your taxes. If you continue to pay premiums on the policy, each payment is tax deductible as a charitable gift when you itemize.

  • Make an outright gift of a new policy. You can take out a new policy and irrevocably name ServeMinnesota as the owner and the beneficiary of the insurance contract. This method may be particularly attractive for the younger donor. Whether you make one single premium payment for the policy or pay annual premiums, each payment is tax deductible as a charitable gift when you itemize.

Next Steps

1.  Contact Lindsay Dolce at 612-746-1439 or lindsay@serveminnesota.org for additional information on life insurance and how to designate your gift to a specific program.

2.  Seek the advice of your financial or legal advisor.

3.  If you include ServeMinnesota in your plans, please use our legal name and federal tax ID.
Legal Name: ServeMinnesota
Address: 120 S. 6th Street, Suite 2260, Minneapolis MN 55402
Federal Tax ID Number: 41-2010058

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Disclaimer: Information on this website is not intended as legal or tax advice. For information on how any gift may affect your tax situation, please consult with your own professional advisor.