Beneficiary Designations

Continue Supporting Our Work After Your Lifetime

Want to learn more about making tax-wise gifts? Download our complimentary guide Beneficiary Designations: The 3 Easiest Ways to Leave Your Legacy.

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Passionate about supporting Cornell College in our mission even after your lifetime? It's not only possible, it's easy to do with a beneficiary designation. Just name Cornell College as a beneficiary to receive assets such as retirement plans and life insurance policies after you're gone. You simply fill out a form that is entirely separate from your will—which makes this approach an easy way to give.

Not only is it an easy way to give, but it's also flexible—you aren't locked into the choices you make today. You can review and adjust beneficiary designations any time you want.

Here is a Potential Scenario

Older couple smilingRobert and Joan treasure the financial help they've been able to give their children and Cornell College over the years. Now that their kids are grown, Robert and Joan changed their estate plan so it could work harder for the people and causes they love. The couple updated their will to leave stocks and real estate to their kids. And they left us a $100,000 IRA to be transferred after their death. Because Cornell College is tax-exempt, all $100,000 will help support our mission.

If Robert and Joan had left the IRA to their children, approximately $28,000* would have gone to pay federal income taxes—leaving only $72,000 for their family's use. Robert and Joan 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 28 percent marginal income tax bracket.

See How It Works

Learn How to Fund It

You can name us beneficiary of the following assets:

Next Steps

  1. Contact Kristi (Webster) Columbus '96 at 319.895.4315 | 877.683.7666 or giving@cornellcollege.edu for additional information on beneficiary designations or to talk about how you can make an impact on Cornell through this type of gift.
  2. Talk to your financial or legal advisor to learn which assets will or will not trigger taxable income when given to a beneficiary.
  3. If you name Cornell College in your plans, please use our legal name and federal tax ID.

Legal Name: Cornell College
Address: 600 First Street SW, Mount Vernon, IA 52314
Federal Tax ID Number: 42-0680335

Want to learn more about making tax-wise gifts? Download our complimentary guide Beneficiary Designations: The 3 Easiest Ways to Leave Your Legacy.

View My Complimentary Brochure

Make Sure You Have a Plan for All Your Assets.

Download our Complimentary Personal Estate Planning Kit