Not everyone wants to commit to making a gift in their wills or estates. Some prefer the increased flexibility that a beneficiary designation provides by using: 

  • IRAs and retirement plans
  • Life insurance policies
  • Commercial annuities

It only takes three simple steps to make this type of gift. Here's how to name the Purchase College Foundation as a beneficiary:

  1. Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
  2. Decide what percentage (1 to 100) you would like us to receive and name us, along with the percentage you chose, on the beneficiary form.
  3. Return the completed form to your plan administrator, insurance company, bank or financial institution.

See How It Works

An Example of How It Works

Couple smiling Robert and Carol treasure the financial help they've been able to give their children as well as the support they've provided to many different programs at Purchase College over the years. The couple recently updated their will to leave stocks and real estate to their kids. They also left the Purchase College Foundation a $75,000 IRA to be transferred following their lifetime. Because the Foundation is tax-exempt, all $75,000 will help support programs across campus.

If Robert and Carol had left the IRA to their children, approximately $18,000* would have gone to pay federal income taxes—leaving only $57,000 for their family's use. Robert and Carol are happy knowing they are making the most of their hard-earned money thanks to their updated estate plan.

*Based on an assumption of a 24 percent marginal income tax bracket.

Learn More

Download our FREE guide Beneficiary Designations: The 3 Easiest Ways to Leave Your Legacy.

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Personal Estate Planning Kit

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Next Steps

  1. Contact Catherine Brod at 914-251-6040 or for additional information on beneficiary designations and how they can help support Purchase with our mission.
  2. Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
  3. If you name the Purchase College Foundation in your plans, please use our legal name and federal tax ID.

Legal Name: Purchase College Foundation
Address: 735 Anderson Avenue, Purchase, NY 10533
Federal Tax ID Number: 23-7066616