Beneficiary Information

“Supporting WINGS using my life insurance policy was a simple easy process. I’m grateful it was an option. I could always donate my time and my experience to the program but couldn’t financially support WINGS as much as I wanted. Donating this way, I have peace of mind knowing I did the right thing.”
Emlen – Former WINGS Board member
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 bank accounts, IRAs and retirement plans, donor-advised funds, and life insurance policies.

It only takes Four simple steps to make this type of gift.

1.

Contact your retirement plan administrator, insurance company, bank, or financial institution for a beneficiary designation form.

2.

Decide what percentage (1 to 100) you would like WINGS Program, Inc. 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.

4.

Let us know of your gift because many retirement plan administrators assume no obligation to notify a charity of your designation.

The administrator also will not monitor whether your gift designations are followed. We would love to talk to you about your intentions to ensure that they are followed and to thank you for your generosity.

Provide Tax Relief for Loved Ones

Naming WINGS Program, Inc. as a beneficiary on your taxable asset accounts not only helps support our mission but also can provide tax relief for your loved ones.
Money in an employee retirement plan, IRA, or tax-sheltered annuity has yet to be taxed. When a distribution is made from your retirement plan account to a beneficiary, that person will owe federal income tax.
Consider leaving your loved ones less heavily taxed assets and leaving your retirement plan assets to WINGS Program, Inc. As a nonprofit organization, we are tax-exempt and will receive the full amount of what you designate.
You can take advantage of this gift opportunity by updating your beneficiary designation form through your plan administrator. Here you can designate WINGS Program, Inc., as the primary beneficiary for a percentage or specific amount. You can also make WINGS Program, Inc., the contingent beneficiary so that we will receive the balance of your plan only if your primary beneficiary does not survive you.
Designate WINGS as a Beneficiary

Designating WINGS Program, Inc. as beneficiary of your bank accounts, certificates of deposit, or brokerage accounts is a simple and straightforward way to support our work.

There are two ways you can make this type of gift to WINGS Program, Inc.:

Payable on death (POD).*

By placing a POD designation on your bank account or certificate of deposit, you can name one or more people or charities as the beneficiary of all funds once you, the account owner, pass away. The beneficiary you name has no rights to the funds until after your lifetime. Until that time, you remain in control and are free to use the money in the bank account, to change the beneficiary, or to close the account.
By setting up your bank account or certificate of deposit in this way, the estate planning and administration process is simplified. The executor or administrator of your estate will not have to take any action to ensure that your account transfers to whomever you designated. Ask your bank representative how to place a POD designation on your bank account or certificate of deposit.

Transfer on death (TOD).*

By placing a TOD designation on your brokerage or investment account, that account will be paid over to one or more people or charities after your lifetime. It is not necessary for the TOD designation to transfer all the account solely to charity—you can designate a certain percentage of the account. Like a POD account, with a TOD account the beneficiary you name has no rights to the funds until after your lifetime. Until that time, you are free to use the money in the brokerage account, to change the beneficiary, or to close the account.
A TOD designation also simplifies the estate planning and administration process. The executor or administrator of your estate will not have to take any action to ensure that your securities transfer to whomever you designated. To set up the TOD endorsement, contact your investment advisor and provide instructions regarding the change.

*

State laws govern payable on death accounts and transfer on death accounts. Please consult with your bank representative or investment advisor if you are considering these gifts.

Contact Us

Fill out this form or contact Shelley Welch, Director of Annual Fund and Charitable Giving at swelch@wingsprogram.com or (847) 519-7820 x222

Disclaimer: WINGS Program, Inc., does not provide legal, tax, or financial advice. This material is prepared and made available to you for informational purposes only. You should consult professional advisors concerning legal, tax, or financial consequences of your charitable activities.

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