Gift Annuities

Contact for Gift Annuities

Terri Houston
Director of Major Gifts and Planned Giving

Phone: 617-879-2126
Email: thouston@wheelock.edu

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, 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.

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