A gift annuity is a simple contract between you and Agnes Scott College. A gift of $10,000 or more for a charitable gift annuity earns you income for life at attractive guaranteed rates. A portion of the gift also qualifies for a charitable tax deduction, and some of the income may be tax free. A gift annuity can have one or two beneficiaries.
- You make an irrevocable gift of cash or appreciated securities.
- Agnes Scott promises to pay you a guaranteed percentage annually.
- The percentage paid by the gift annuity is determined by your age at the time of the gift.
- You receive an income tax deduction in the year of the gift, for the value of the remainder interest. Any unused deduction may be carried forward for an additional five tax years.
Funding a gift annuity with appreciated stocks can be especially advantageous. If you own highly appreciated stocks yielding little dividends, a charitable gift annuity is an excellent way to move these assets into a financial instrument that guarantees income for you at an attractive fixed rate for life—while making a meaningful gift to Agnes Scott. You also avoid much of the capital gains tax that would be due if you were to sell the stock, and you can spread the capital gains tax you do incur over the life of the annuity. Please see our instructions for making a gift of stock to Agnes Scott.
If you would like more information, please contact Michelle S. Staes, J.D., director of capital gifts and planned giving, at 404 471-5475 or 800 868-8602, ext. 5475 or mstaes@agnesscott.edu.
Please consult with your attorney or accountant on how this general information relates to your specific financial and estate planning situation. The office of development is pleased to provide you or your advisors with more detailed information.