- Contact Monica M. Keith at 309-341-7755 or email@example.com for additional information on beneficiary designations and how they can help support Knox with our mission.
- Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when paid to a beneficiary.
- If you name Knox in your plans, please use our legal name and federal tax ID.
Legal Name: Knox College
Address: 2 East South Street Galesburg, IL 61401
Federal Tax ID Number: 37-0673513
Make a Gift in 3 Easy Steps
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 Knox College as a beneficiary:
- Contact your retirement plan administrator, insurance company, bank or financial institution for a change-of-beneficiary form.
- 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.
- Return the completed form to your plan administrator, insurance company, bank or financial institution.
See How It Works
An Example of How It Works
Robert and Carol treasure the financial help they've been able to give their children and Knox over the years. The couple recently updated their will to leave stocks and real estate to their kids. They left Knox a $75,000 IRA to be transferred following their lifetime. Because Knox is tax-exempt, all $75,000 will help support our mission.
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.
Download our FREE guide Beneficiary Designations: The 3 Easiest Ways to Leave Your Legacy.View My Guide