Create a Charitable Legacy

Creating a charitable legacy through estate planning is a powerful way to provide for the organizations and causes that are important to you.

There are a number of easy ways to support Consumer Reports’ enduring role as the independent and unbiased voice of consumers today and for generations to come.

You can provide support through:


Estate & Charitable Planning Resources

We know that creating an estate plan that provides for you and your loved ones and the organizations you value is important. As part of our mission to help you and others make informed choices, we developed informational materials on estate planning that are free for download. Please complete the form and select the titles you are interested in receiving. We will follow up with an email that provides all the brochures for download. To have a brochure mailed to you, please email legacy@consumer.org or call 877-275-3425.


Your Will

If you are creating a will for the first time and would like to name Consumer Reports as a beneficiary, you can provide the following language to your attorney or advisor:

"I give and bequeath (The Trust shall distribute) to Consumer Reports, Inc., Yonkers, N.Y., the sum of $________ (or percent of the rest and residue of my estate or trust) to be used by it for its general charitable purposes."

You can also use this language to create a "codicil" that adds Consumer Reports as a beneficiary to an existing will. You will also want to have our address and Tax ID number on file:

Consumer Reports
Attn: Planned Giving
101 Truman Ave
Yonkers, NY 10703
Tax ID #: 13-1776434

If you include Consumer Reports in your estate plans, we would also like to recognize you as a member of the Consumer Reports Legacy Society. By making this commitment, you join a special circle of individuals dedicated to advancing the mission and values of Consumer Reports. As a member, you will be acknowledged in our Annual Report, receive regular updates on the progress we are achieving together, be invited to special events, and have access to our Call CR concierge line to get assistance directly from our experts. 


Your Life Insurance

Designating Consumer Reports as a beneficiary of your life insurance may enable you to make a larger gift than you thought possible. 

If you wish to make Consumer Reports a beneficiary of your life insurance, you can request forms from your insurance company that allow you to add or change your beneficiary. These are usually found on the company website or can be requested by phone. To make Consumer Reports a beneficiary, please use the address below along with our Tax ID number to complete the form.

Consumer Reports
Attn: Planned Giving
101 Truman Ave
Yonkers, NY 10703
Tax ID #: 13-1776434

To ensure that your wishes are honored, remember to keep an up-to-date beneficiary form filed with your insurance company. Even if you indicate in your will that you wish a specific charity to receive the proceeds of your life insurance, if the insurance company has an older form, the law dictates that the beneficiary form, no matter how old, takes precedence.


Your Retirement Plans

Designating Consumer Reports as a beneficiary of your individual retirement account, or Keogh, 401(k), or 403(b) plan is one of the simplest and most tax-efficient ways to provide for your retirement while supporting CR.

Retirement plans left to children will be subject to income tax and (if you have a taxable estate) estate tax. Plans left to charities will be subject to neither, so if you are trying to choose which assets to leave to whom, remember this distinction.

If you choose this type of legacy gift, it is important to know that:

  • Your retirement account withdrawals will continue during your lifetime
  • Your gift to CR becomes effective only when you no longer need the assets
  • You can name a spouse or partner as the primary beneficiary if you die first, and CR as secondary beneficiary
  • You may choose to donate all the remaining assets in your account or a percentage

If you choose Consumer Reports as a beneficiary of your retirement plan, you can request forms to add or change your beneficiary through the company website or by calling. Please use our address below with our Tax ID to complete the form:

Consumer Reports
Attn: Planned Giving
101 Truman Ave
Yonkers, NY 10703
Tax ID #: 13-1776434

To ensure that your wishes are honored, remember to keep up-to-date beneficiary forms filed with your retirement plan.


Your Charitable Gift Annuity

Arranging a charitable gift annuity with Consumer Reports is a great way to benefit both you and CR. An initial investment provides returns to you during your lifetime and supports our work on behalf of consumers in the future.

You can contribute cash or securities to Consumer Reports to create a charitable gift annuity (CGA). Your gift of $10,000 or more guarantees you payments for life at a fixed rate and an income tax deduction. Payments can begin immediately or they can be deferred.

If you decide to establish a CGA with Consumer Reports, it is important to know that:

  • You will receive a federal income charitable tax deduction in the year you make the gift.
  • You must be 55 to establish a CGA and 60 to receive payments.
  • You can make your gift with cash or stocks. If you use stocks, that may also reduce your capital gains taxes.
  • A portion of your payments will be tax-free.
  • You can create a joint annuity with a spouse or partner. Please contact us if you are interested in setting up a CGA to benefit another person.

CGA Payment Example

This table shows how the CGA might work. Details, payment amounts, and charitable rates will vary based on your personal circumstances.
 

Donor/Age

Donation Amount

Tax Deduction

Annual Payment (for life)

Tax-free portion of payment

June, age 70

$25,000

$10,004

$1,275

$943


You can use the Gift Annuity calculator below to see a personalized illustration. You can also contact Nancy Smith for more information or to receive our complimentary brochure about CGAs at 877-275-3425 or legacy@consumer.org
 


Questions?
Please contact Nancy Smith with questions about including Consumer Reports in your estate plans or to let her know you have already done so. She can also answer questions and provide information about charitable gift annuities.

Planned Gifts & Charitable Gift Annuities

Contact Us

Nancy Smith, Charitable Gift Annuity Manager
101 Truman Ave
Yonkers, NY 10703
914-378-2604
nancy.smith@consumer.org

Please note: This information is not intended as tax or legal advice. It is important to seek your own independent legal counsel and financial advice when preparing your estate plans.
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