Charitable Gift Annuity
With a charitable gift annuity, you can make a gift and receive guaranteed payments for life.
How It Works
- You transfer cash or securities. If you are 70 ½ or older, you can make a one-time, tax-free qualified charitable distribution of up to $54,000 from your IRA to fund a CGA.
- Our minimum gift requirement is $10,000.
- You, yourself and a spouse, or any two beneficiaries you name, will receive fixed payments for life.
- Beneficiaries are recommended to be at least 65 years of age at the time of the gift.
- The remaining balance passes to Glenelg Country School when the contract ends.
- You can also create a life income gift through your IRA. Discover more here.
Benefits
- Receive dependable payments for yourself or loved ones - see today’s rates.
- Payments never change.
- A portion of your gift is tax-deductible, if you itemize.
- If you create a gift annuity using appreciated stock or mutual fund shares you may also save on capital gains taxes.
- A portion of your annuity payment will be tax-free for a number of years.
- Are you a younger donor? Consider a deferred gift annuity.
Next
- More detail on Gift Annuities.
- Frequently asked questions on Gift Annuities.
- Contact us so we can assist you through every step.
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