Annuities & Trusts
Charitable gift annuity
A charitable gift annuity is a contract between the donor and the College under which the donor gifts cash, securities, or other tangible property and the College guarantees a lifetime fixed income to the donor, based upon the value of the gifts and actuarial determined rates. Benefits to the donor include a guaranteed income, some income tax advantages, and some tax deductions. The assistance and advice of a professional financial planner is recommended for these gifts.
Charitable remainder annuity gift trust
A charitable remainder annuity gift is a trust contract between the donor and the College under which the donor places cash, securities, or other tangible property into a trust with the College as beneficiary. A fixed lifetime income may be paid to the donor and/or other beneficiary based upon the written terms of the trust agreement. Immediate tax deductions are available based upon the value of the assets transferred to the trust, and some capital gains, estate, and inheritance taxes may be avoided. The assistance and advice of a professional financial planner is recommended for these gifts.
Charitable remainder unitrust
A charitable remainder unitrust is similar to a charitable remainder annuity trust; except the trust is professionally managed by an agreed upon trust professional and the annual income to the donor varies with the value of the unitrust. Immediate tax deductions are available based upon the value of the assets transferred to the unitrust, and some capital gains, estate, and inheritance taxes may be avoided. The assistance and advice of a financial planning professional is recommended for these gifts.
Charitable lead trust
A charitable lead trust differs from a remainder trust, in that it provides an income to the College for a designated time period but reserves the principal for the trust for the donor's estate.