Retirement Plans

Give with Generosity

Naming BHI Foundation as a beneficiary (or partial beneficiary) of your retirement plan is a simple yet powerful way to leave a legacy. Retirement accounts are often taxed heavily in estates, so directing them to charity allows you to maximize your impact while lightening the tax burden for heirs.

How to Get Started

Important Legal Information

  • Legal name
    BHI Foundation, Inc
  • Address
    8330 Allison Pointe Trail, Indianapolis, IN 46250
  • Tax ID
    (EIN) 35-1680796
  • The BHI Foundation is a 509(a)(3) supporting organization; contributions are tax-deductible under U.S. and Indiana law.

Benefits of donating retirement assets to charity

Most people do not use all of their retirement assets during their lifetime, and those unused assets can be used to make a gift to the BHI Foundation. There are several benefits to donating unused retirement funds and assets:

  • Tax efficiency: retirement assets are among the more heavily taxed assets when passed on to heirs, directing them to charity helps reduce that impact.
  • Simplicity: beneficiary designations are usually straightforward to set up through your plan administrator.
  • Flexibility: you can name BHI for all or a portion of your account, or split it among heirs and charity as you wish.
  • Legacy with ease: supports BHI’s care, enrichment programs, and stable community in years to come, with no change to your lifestyle now.

How It Works

  • You designate BHI (or a specific BHI Foundation entity) as a beneficiary (primary or contingent) of all or part of your retirement account (IRA, 401(k), 403(b), pension, etc.).
  • The funds pass directly to BHI upon your death, bypassing probate and potentially avoiding income tax that would otherwise apply to heirs.
  • Because retirement assets are frequently taxed when inherited, naming a charity helps ensure that more of your asset goes to mission instead of taxes.
  • It’s a supplemental gift, you still control and use the account during your lifetime.

Important Information

  • Use BHI’s exact legal name, address, and EIN to ensure beneficiaries are recorded correctly.
  • Make sure your plan’s paperwork or beneficiary designation form reflects BHI clearly and unambiguously.
  • You can specify whether your gift is unrestricted (system level) or designated to a community
  • Notify BHI Foundation’s Major and Planned Giving Office so we can anticipate and acknowledge the gift appropriately.
  • Review and update your designations periodically (especially after major life events: marriage, birth, death, etc.).

How to Get Started

If you’re considering naming BHI Foundation as a beneficiary (or partial beneficiary) of your retirement plan and want to explore whether it’s right for you, we’re here to help:

Major & Planned Giving Office

765-543-3289

info@bhifoundation.org

How to Get Started

  1. Log into your retirement plan account or contact your plan administrator (e.g., your 401(k) or IRA custodian).
  2. Locate the beneficiary designation form or section.
  3. Add or change the beneficiary to BHI Foundation, using the exact name, address, and EIN above.
  4. Indicate whether you want the gift to go to a specific BHI community or initiative (or to the Foundation generally).
  5. Notify BHI’s Major Gifts team that you’ve made or plan to make this designation so we can coordinate acknowledgment.
  6. Keep a copy of your beneficiary designation or confirmation as part of your estate or gift records.

We are here to help. Please reach out to:

Major & Planned Giving Office

765-543-3289

info@bhifoundation.org

Frequently Asked Questions

Yes, most retirement plans allow you to update your beneficiary designations at any time.

Absolutely, many donors designate a portion to charity and the rest to family or other beneficiaries.

Because charities are tax-exempt, BHI generally receives the full amount without income tax deductions, which isn’t true for non-charitable beneficiaries.

Not necessarily. You can structure your designations to balance your charitable intentions and family inheritance.

Typically not, retirement plan designations take effect after your death. They don’t confer a charitable deduction while you’re living (unless your plan allows an earlier distribution).