This is a beneficial way to remember the college and to create a constant level of income for you and/or your spouse. While financial markets can be volatile, you may find a charitable gift annuity to be just what you need. Here's how it works. The establishment of an annuity becomes a binding contract between you and the college. By making a gift of $10,000 or more, the college will pay you a fixed amount of interest each year, determined by your age at the initial time of the annuity agreement. A standard interest rate is set according to the Board of the American Council on Gift Annuities (ACGA). The older a person is, the higher the rate will be. This provides a guaranteed income for life to the donor, and the donor receives an income tax deduction for the gift and pays no capital gains tax on it if it is appreciated property. Checks may be sent to you monthly, quarterly, semi-annually or annually. At the time of your death, the college will benefit from the principal amount of your original gift. You may indicate whether the remainder of the funds will be restricted for a specific purpose or if the funds are to be unrestricted. Two life gift annuities may also be established.
Need more information about charitable gift annuities?
Please contact our Advancement Services Department at 1-800-755-2287 or send them an e-mail at firstname.lastname@example.org.