Charitable Gift Annuity

Charitable Gift Annuity is a simple arrangement that allows you to make a substantial gift to the College and lock in a secure lifetime income for you and/or a loved one. Unlike a trust, you contribute your gift directly to Manhattan College. The College then agrees to pay you a fixed income based on a percentage of the gift. Gift annuities come in all sizes, often beginning with as little as $10,000. For example, John Jasper contributes $10,000 to Manhattan College to fund a Charitable Gift Annuity. If the income is 7% of that gift, he will receive $700 a year for the rest of his life. The College’s pledge is stated in a legal contract and is backed by the full faith and credit of the College.

Benefits of a Gift Annuity:

• Simplicity
• Low cost
• Guaranteed, fixed income for life
• Current income tax charitable deduction
• Partly tax-free income
• Bypass of penalty capital gains tax on the sale of appreciated assets
• Estate tax savings