The Heritage Society Gift Annuities
A gift annuity is a simple contract between a donor and the College. In return for a donor’s contribution, Wheelock promises to pay the donor, or someone s/he names, a fixed and guaranteed rate of annual income. Rates are age-related and they currently range from 5.7% for a beneficiary at age 60, to 11.3% for a beneficiary at age 90.
In addition to the potential for higher income, benefits include favorable capital gains tax implications, an immediate charitable income tax deduction and reduced estate taxes for individuals with large estates.
A deferred payment gift annuity defers a donor’s annuity income for a number of years. The longer a donor elects to defer receipt of income, the higher her or his guaranteed income rate will be.
What is a gift annuity?
A gift agreement with Wheelock that pays you a guaranteed annual income for life.
Why should I create a gift annuity?
To secure an income stream for life
When should I create a gift annuity?
Best for those in retirement years
What are the benefits?
A gift to Wheelock
Variable income for life based on the market value
of the gift
Income tax charitable deduction
Reduced capital gains taxes
on appreciated assets
How is a gift annuity funded?
Typically funded with cash, appreciated securities
$10,000 minimum gift
to create an annuity fund
