Life insurance that you no longer need for your family's security may be an attractive asset to donate to 92nd Street Y.
You may contribute a new or an existing policy by naming 92nd Street Y to be first, second or final beneficiary of all or a portion of the proceeds. Your estate may be entitled to a charitable deduction for the proceeds passing to 92nd Street Y.
If you name 92nd Street Y as irrevocable owner and beneficiary, you will be allowed to claim an immediate income tax deduction for either a fully or partially funded policy. If you donate a new or partially funded policy, you can make annual gifts to 92nd Street Y to cover the cost of subsequent premium payments to maintain the policy and you can deduct those gifts as well.
For more information about how to purchase a life insurance policy for 92nd Street Y or to make 92nd Street Y the beneficiary of an existing policy, please call 212.413.8825 / email.
Planned gifts like life insurance policies entitle donors to membership in 92nd Street Y Partners, a group of generous individuals who have chosen to remember the institution in their estate plans.