Charitable Gift Annuity
GOAL: Establish a gift plan now that will provide me with income and some immediate tax benefits
"I need to receive an income from my assets for the rest of my life, or for a period of time, but I want to establish a specific gift plan for George School now that will provide me with income and some immediate tax benefits."
METHOD: Establish a Charitable Gift Annuity. (Also see: Pooled Income Fund and Charitable Remainder Trust)
FREQUENTLY ASKED QUESTIONS ABOUT CHARITABLE GIFT ANNUITIES
WHAT IS A CHARITABLE GIFT ANNUITY? This popular charitable giving opportunity provides you (and your spouse) with a fixed income for life -- a particularly attractive option in times of unsettled financial markets. The gift annuity is one of the most simple life income plans available. Over 30 George School alums and friends currently receive monthly income from gift annuities, and George School will receive the remaining principal upon the death of the donors.
RETURN TO TOP WHY WOULD THIS BE A GOOD GIFT OPTION FOR ME? You will be able to meet many of your financial and philanthropic goals because gift annuities provide:
- An immediate income tax deduction, and capital gains deferral on appreciated assets
- A stream of fixed payments for life for yourself (or, yourself and your spouse)
- An annuity rate with yields which may be higher than most alternative fixed income investments
- And a future significant gift to George School
RETURN TO TOP HOW DOES A CHARITABLE GIFT ANNUITY WORK? If you are age 70 and older, and would like to make an irrevocable gift of $10,000 or more, you enter into a simple gift agreement which can be completed in the following steps:
- You transfer cash or marketable securities to George School
- George School sends you a simple agreement (which varies slightly depending on the state in which you live), acknowledging your gift and guaranteeing to pay you a fixed income for your lifetime(s).
- A contribution to a charitable gift annuity is an irrevocable gift to George School, and the annuity payments to you are backed by the school's Endowment and other financial assets.
For further information about Gift Annuities with George School, please contact Director of Planned Giving Andy Popkin at 215.579.6563 or
GSPlannedGiving@georgeschool.org.
RETURN TO TOP WHAT RATE OF INCOME WILL I RECEIVE FROM A GEORGE SCHOOL CHARITABLE GIFT ANNUITY? Please contact Director of Planned Giving Andy Popkin at 215.579.6563 or
GSPlannedGiving@georgeschool.org for a gift annuity illustration tailored to your circumstances.
RETURN TO TOP WHO SHOULD I CONTACT REGARDING A CHARITABLE GIFT ANNUITY TO GEORGE SCHOOL? Please contact Director of Planned Giving Andy Popkin at 215.579.6563 or
GSPlannedGiving@georgeschool.org for information related to Gift Annuities.
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