One of the simplest ways to remember the Camas-Washougal Community Chest (CWCC) in your planned giving and estate plans is to make the CWCC a beneficiary of part of your life insurance policy.

Follow these steps:

  1. Ask your insurance agency for a change of beneficiary form.
  2. Fill it out naming the Camas-Washougal Community Chest, Tax ID 91-0839945, located in Camas, Washington, a beneficiary policy for  either a percentage or a dollar amount of the proceeds.
  3. Inform the CWCC treasurer of your plans.

This process does not generate a charitable income tax deduction because the donor is free to change the designation at any time, but the funds will pass to the CWCC free of estate taxes.

One way to receive a charitable income tax deduction through a gift of insurance is to turn over a paid up policy to the CWCC during your lifetime.  If you determine you no longer need the policy, you can irrevocably assign the policy to the CWCC and receive an immediate charitable income tax deduction.  Most insurance companies will calculate the tax deduction and provide the donor with the proper IRS form that the donor can use to claim the deduction.