Did you know you can donate life insurance to Providence Network? Life insurance may not be a fun topic, but it’s an important one. It’s a meaningful way to provide for those you care about and further the work of a charity you’ve loved in your lifetime.
While nothing in this article is financial advice, and we encourage you to talk to your financial, tax, and legal advisors, we would like to invite you to consider naming Providence Network as a beneficiary in your life insurance policy.
Why designate Providence Network a beneficiary?
Providence Network is a 501(c)3 that depends on the financial generosity of its donors to offer our transformational services. We are a Christian nonprofit using transitional and affordable housing to equip men, women, and children recovering from addiction, domestic violence, and homelessness to become flourishing members of the Denver community. We want our most vulnerable neighbors to not simply survive but thrive.
In the Sermon on the Mount, Jesus talks about wealth and where we store up our treasure. He encourages us to approach our finances with a kingdom mindset. Matthew 6:19-21 (NIV) says:
Do not store up for yourselves treasures on earth, where moths and vermin destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where moths and vermin do not destroy, and where thieves do not break in and steal. For where your treasure is, there your heart will be also.
We see ourselves at Providence Network as doing kingdom work, serving the most vulnerable of our Denver community. And yet, we do not do this alone, but with a whole host of churches, businesses, organizations, families, and friends who partner with us with their time, treasure, and talents. Through your generosity, you enable our work and partner with us in humbly serving.
On a financial level, why designate Providence Network as a beneficiary of your life insurance policy? This could potentially be one of the largest gifts, if not the largest gift, you give to Providence Network. It is an opportunity to not only invest in our work during your lifetime, but to enable our shared mission for generations to come.
How much life insurance should I give?
How much you would like to give is entirely up to you. We know you may have loved ones, family members, and other charities to consider. Two things to bear in mind: You can either give a percentage (%) of the policy or a specific dollar amount ($). We are grateful for both. Any amount, of any size, is a blessing.
You can learn more about your options by reading PolicyGenius’s article, How to use life insurance for charitable giving, or Forbes Advisor’s article, How To Donate Your Life Insurance To Charity. It may be worthwhile to investigate with your financial advisor the difference between a whole-life insurance policy and a term life-insurance policy.
How do I name Providence Network as a beneficiary?
To name Providence Network as a beneficiary in your life insurance policy, please contact your insurance agent, or you can typically update this information through your online account. Here is some information you may need:
Legal Name: Providence Network
Taxpayer ID (EIN): 74-2505406
Primary Address: 357 N. Broadway, Denver, CO 80203
If you have any questions we can help with, even verifying our information, please reach out. Our development office phone number is (303) 551-9319 and our main email is development@providencenetwork.org.
What if life insurance is not the right gift for me?
There are more ways to designate Providence Network, such as naming us as a beneficiary of your IRA or other investment or retirement account. Another giving option is donating Qualified Charitable Distributions (QCDs) from an IRA. Fidelity Charitable has a helpful article on Donating an IRA and other retirement assets, which may have tax benefits.
Others may include Providence Network in their end-of-life Will or Trust, giving a percentage or dollar amount of their assets. Please consider with your financial advisor, tax attorney, and lawyer what approach is right for you. We are always grateful for individual donations or monthly donations today as those improve our cash flow and enable our ongoing recovery programming.
Joining the Providence Network Legacy Society
By naming Providence Network as a beneficiary in your life insurance policy or policies, you become a member of the Providence Network Legacy Society. Our legacy society is a group of compassionate and caring friends who have generously remembered our program residents, staff, and vision for a more flourishing Denver community in their retirement and estate planning.
If you choose to designate us, would you please let us know of your decision so we can thank you in this lifetime? You can reach out via the contact information above or by filling out the form at the bottom of our Legacy Society webpage.
Donate life insurance
In conclusion, would you consider donating proceeds from your life insurance—a dollar amount or a percentage of it—to Providence Network? Your donation empowers men, women, and children in our program to leave addiction, domestic violence, and often homelessness, to become self-sufficient, healthy, flourishing members of our Denver community. Your giving enables lasting recovery over the long haul. Thank you!
Want to learn more? We’ve created a playlist of legacy society videos.
Disclaimer: Providence Network has not provided you with any investment, financial, legal, or tax advice. Instead, we have advised you to consult with your own legal and financial advisors and tax experts. We are not responsible for any decisions or actions taken in reliance upon or as a result of the content made available on this website or social media channels.
Acknowledgements: Providence Network is not sponsored by or an affiliate of any of the external websites or financial institutions mentioned in this article.
