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University of California, Riverside

Office of Gift Planning


A Smart Gift to Leave to UC Riverside

We Can Receive Your Commercial Annuity Tax-Free

Banks and life insurance companies typically sell commercial annuities. They provide the owner with fixed or variable income based on commercial rates of return. Because commercial annuities are subject to income and estate taxes, and for larger estates, federal taxes, they are often considered among the best assets to leave to charity. The best way to give a commercial annuity in support of our work after your lifetime is to name us as beneficiary.

Upon withdrawal, a distribution from a commercial annuity will be subject to federal income tax and applicable state income tax. By naming us as beneficiary, UC Riverside can receive your commercial annuity completely tax-free and any assets contributed to UCR in this manner will result in a charitable deduction and help reduce any estate tax your estate might incur.

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

  1. Contact Tony Truong at 951-827-3793 or tony.truong@ucr.edu for additional information on commercial annuities.
  2. Seek the advice of your financial or legal advisor.
  3. If you include UCR in your plans, please use our legal name and federal tax ID.

Legal Name: UC Riverside Foundation
Address: 900 University Ave., Riverside, CA 92521
Federal Tax ID Number: 23-7433570

More Information 

General Campus Information

University of California, Riverside
900 University Ave.
Riverside, CA 92521
Tel: (951) 827-1012

Department Information

Office of Gift Planning
Mailing Address:
900 University Avenue, MC063
Riverside, CA 92521

Physical Address:
1955 Chicago Avenue, Ste. 200
Riverside, CA 92507

Tel: (951) 827-3793
Fax: (951) 827-7311
E-mail: giftplanning@ucr.edu

Related Links

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PIF Chart

A charitable bequest is one or two sentences in your will or living trust that leave to UC Riverside a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan

“I give to the UC Riverside Foundation (tax ID #23-7433570), a California nonprofit corporation, [a dollar amount], [a specific property], or [all or a percentage (%) of the rest, residue, and remainder of my estate] to support the greatest needs of the campus at the discretion of the Chancellor.”

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to UCR or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.

crt chart

CLT Chart

You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to UCR as a lump sum.

You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to UCR as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

CGA Chart

Personal Estate Planning Kit Request Form

Please provide the following information to view the materials for planning your estate.