Contact for Gift Annuities
Director of Major Gifts and Planned Giving
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 subject to change. Currently CGA's range from 4.4% for a 60 year old to 9% for a 90 year old donor.*
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, and
- Reduced capital gains taxes on appreciated assets.
How is a gift annuity funded?
Typically funded with cash, appreciated securities, there is a $10,000 minimum gift to create an annuity fund.
*According to the American Council on Gift Annuities, March 2015. www.acga-web.org