How to Give:
Life income gifts help you provide meaningful support to Milton Academy while providing you with income for life (or a specified period of years) and leaving the remainder to Milton for the purpose you choose.
There are several options for making a charitable gift that pays you income. One of the most popular (and one that does not require an attorney), is a Charitable Gift Annuity (CGA). A CGA is a simple contract between you and Milton Academy. You can fund a CGA with cash, transfer appreciated stock that isn't paying a dividend, or convert another underperforming asset like a savings account, money market fund, or CD bearing little or no interest. You'll receive payments for life and a tax deduction for the year that you make the gift.
There's a CGA option for everyone. If you're still working, you can fund an annuity today and plan to receive payments when you plan to retire. If you're nearing retirement or already retired, you have the option of deferring your payments a bit longer or receiving them right away.
You can make your gift, take a tax deduction, and begin receiving annuity payments right away. This option is available for donors who are age 60 or older.
Take an immediate tax deduction and defer payments for retirement; usually advantageous for younger donors. Deferment allows for larger and fewer taxed payments.
This is like a deferred gift annuity, with a donor-directed option to delay the payments. The longer you wait to receive payments, the higher the payout rate and the larger your income payments will be.
© Planned Giving Marketing. This document is informational and educational in nature. It is not offering professional tax, legal, or accounting advice. For specific advice about the effect of any planning concept on your tax or financial situation or with your estate, please consult a qualified professional advisor.