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Give later: Beneficiary proceeds

Bequests and Beneficiary Proceeds

What is a charitable gift of beneficiary proceeds?

One of the simplest ways to make a charitable gift is to designate Thrivent Charitable as beneficiary of an IRA, tax-sheltered annuity, or 401(k) or 403(b) plan.

Beneficiary proceeds directed to charity are not subject to income or estate taxes, typically referred to as “double tax”, providing significant tax advantages to the giver and their family. These assets may also be used to fund a charitable remainder trust at death to benefit a spouse or the family.

When a donor names Thrivent Charitable beneficiary of specific assets, he/she enjoys some flexibility and simplicity in giving, including the ability to:

  • Change this designation throughout life;
  • Designate all or a portion of the assets to Thrivent Charitable;
  • Designate Thrivent Charitable beneficiary without the help of an attorney; and
  • Upon the donor's death, assets are directed to their charitable fund created to benefit his/her recommended charities.
How to designate Thrivent Charitable to receive beneficiary proceeds
  1. Donor creates a charitable fund.
  2. Once Thrivent Charitable receives the fund form or workbook, we will create your fund and send a confirmation once the fund is established. The confirmation document lists the charities the donor wishes to benefit from and govern the administration of the donor’s perpetual fund. The donor may change the charitable beneficiaries at any time by contacting Thrivent Charitable.
  3. The donor includes the Thrivent Charitable on Beneficiary Designation forms.
    1. The following language should be used:
      “Thrivent Charitable Impact & Investing.”
    2. Thrivent Charitable Impact & Investing's Tax ID Number:
      41-1802412.
    3. Thrivent Charitable Impact & Investing's mailing address:
      Thrivent Charitable Impact & Investing
      PO Box 8072
      Appleton, WI 54912-8072
  4. Financial advisor contacts Thrivent Charitable with a list of accounts and estimated gift amounts.
Target audience
  • Clients who need the retirement income while living but wish to benefit charity with any remaining value upon death.
  • Clients who want the option to change this designation down the road.
  • Charitably-minded clients who have no heir(s) to benefit from their estates.
Potential tax and financial benefits of giving life insurance
  • The amount designated to charity is given free of federal estate tax.
  • Thrivent Charitable receives the specified assets upon the donor’s death, allowing for a potential charitable deduction against estate taxes.
  • Save up to 70% of the value of the asset from federal estate and income taxes

Additional information

Connect with us
We make the process easy
Our team of charitable gift planners utilizes deep charitable expertise to expand your clients' options and help meet their giving goals. Our collaborative approach will allow you to maintain your current client relationships while we provide the most relevant advice that aligns with your clients' financial priorities. 

Thrivent Career FPs: Contact a gift planner

Thrivent Advisor Network Advisors: Contact a gift planner