A Smart Gift to Leave to the Towson University Foundation

Commercial Annuities

Like retirement plan assets, commercial annuities provide for tax-deferred growth while the owner is living. Because distributions from commercial annuities are subject to income taxes, they are often considered among the best assets to leave to charity. Due to our tax-exempt status, the Towson University Foundation can receive your commercial annuity completely tax-free. The best way to give a commercial annuity in support of our work after your lifetime is to name Towson University as beneficiary.

Making this gift is as simple as updating your beneficiary form with your bank or insurance company. You can designate Towson as the primary beneficiary for a percentage or specific amount. You can also make the University the contingent beneficiary so that we will receive the balance of your policy only if your primary beneficiary doesn’t survive you.

Get Started With These Next Steps

  1. Contact Kathleen Hider at 410-704-6287 or khider@towson.edu for additional information on commercial annuities.
  2. Seek the advice of your financial or legal advisor.
  3. If you include Towson University in your plans, please use our legal name and federal tax ID.
Legal Name: Towson University Foundation, Inc.
Address: Towson University Foundation, 8000 York Road, Towson, Maryland 21252-0001
Federal Tax ID Number: 52-0939453