Ithaca College Quarterly 2004/2
South Hill Today

 

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Samples of recent charitable
gift annuity rates

Ages (donor/ second party)
Rate
 
60/62  
5.5%
 
65/60  
5.5%
 
70/65  
5.7%
 
70/70  
5.9%
 
75/69  
6.0%
 
77/76  
6.5%
 
80/75  
6.6%
 
83/81  
7.2%
 
86/81  
7.5%
 
90/85  
8.4%

When Giving Means Receiving

The College's Office of Institutional Advancement has announced the addition of charitable gift annuities to its roster of giving programs. A charitable gift annuity is created when a donor transfers an asset to a charity in exchange for a lifetime income. Thus, it is a contract between a donor and Ithaca College in which the College agrees to pay the donor (or other person named by the donor) a lifetime annual income (an "annuity") in return for a gift of cash, securities, or real property. The payment may continue for the lifetime of a second party, such as a spouse.

"We're very excited about the ability to offer charitable gift annuities to alumni and friends. This is a wonderful way for them to both help the College and receive an income," says Melanie Weymer, director of special programs. The income comes in the form of a fixed-sum annual payment, based on the size of the gift and the number and ages of the beneficiaries. Annuity contracts are simple to arrange and can be funded with cash or marketable securities. The minimum needed to create an annuity is $10,000.


 

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Contacting the College Directories Site Index Ithaca College Home Ithaca College Home Office of Creative Services, August 10, 2004