Planned Giving
Charitable Gift Annuity
A charitable gift annuity is established when you make a gift to York College in exchange for a guaranteed annual, fixed dollar payment from the college. A gift to an annuity is irrevocable and may be made with cash or securities. Gift annuities involve transfer of an asset to the college and a signed document that describes the gift and the guaranteed income stream from it. Gift annuities may have more than one income beneficiary.
- A “current” payment gift annuity begins making payments to beneficiaries the year the gift is made.
- A “deferred” annuity’s payments begin a minimum of one year after the gift is made. Deferred annuities may be appropriate for individuals who wish to take a current income deduction but do not need any resulting income until a later time.
The annuity rate is based on the age of those receiving the income from the fund. Tax benefits include avoiding any capital gains tax and a current income tax deduction. A portion of annuity payments are treated as tax-free income.
For assistance or questions, contact Brent Magner at 402-363-5636 or at brent.magner@york.edu.
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