Building Your Legacy through a Charitable Gift Annuity
This is an easy way to give and get immediate benefit in the form of annual income for life. Once you have established the amount you wish to give, you and the organization sign a contract obligating the organization to make annual payments to you for life, at a rate fixed at the time you sign the contract. The rate you will receive is determined by the rates in effect at the time of the contract, your age, and whether you are also covering another person, whose age is also taken into account. Your gift will qualify for an immediate tax deduction. Furthermore, part of your income will be repayment of principal, and that portion is not taxable. When you and your co-annuitant pass on, the remainder of your original gift will be used by the organization for its charitable mission.
Some Reasons to Consider a Charitable Gift Annuity
- When you transfer property to us, we pay you fixed income for life.
- The fixed income may be quite high, depending on your age. Your gift can also provide for a spouse or loved one, assuring them payments for life.
- A portion of your income stream may be tax-free. You will receive a charitable deduction for your gift and the satisfaction of furthering the Scholarship Foundation’s mission.
Types of Assets You May Give:
- If you decide to fund your gift annuity with cash, a significant portion of the annuity income will be tax-free.
- You may make a gift of your appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax.
Start Receiving Payments Now with a Current Gift Annuity
If you desire current income, you may transfer property in exchange for our promise to pay you fixed income beginning as early as this year. You will receive a current income tax charitable deduction for the value of your gift to the Marine Corps Scholarship Foundation.
Deferred Gift Annuity for Income at Future Date
Perhaps you are not ready to begin receiving income until a future date, such as when you retire. You can establish a deferred gift annuity, receive a current charitable income tax deduction and receive payments at a designated future time. Best of all, because you deferred your payments, your annual payment will be higher than with a current annuity.
For more details on giving through charitable gift annuities, please click here or call 703-549-0060 to consult with the Marine Corps Scholarship Foundation Planned Giving Coordinator.