Yes. Leaving your retirement plan or IRA (or a portion of it) to the Friars is a tax-wise gift because naming the Friars as the recipient of your retirement plan after your death (or at the death of the survivor of you and your spouse) avoids all estate and income taxes on the plan assets.
To do so, simply notify your plan’s administrator of your wish to change the beneficiary. A “change of beneficiary” form will be required. The Friars/Dominican Foundation can be designated as a full or partial beneficiary of your plan. Depending on the state in which you reside, you may or may not need consent from your spouse if you designate your qualified retirement plan to come directly to the Friars at your death.
If your spouse and children are the beneficiaries of your retirement plan, you can continue to keep them as beneficiaries, and also include the Friars as beneficiaries of a portion of the plan. Upon your death, the plan administrator can “cash out” the Friars’ share of the account without affecting your family’s portion of the account, so that the Dominican Friars, and your heirs, benefit from your retirement savings.