Shady Hill School and the charitable gift annuity offer you a pragmatic way to make a charitable gift, enjoy income for life, realize tax savings, and experience the joy and satisfaction of sustaining Shady Hill's future success.
What is a charitable gift annuity?
A charitable gift annuity is a simple contract between a donor and Shady Hill School. Donors make an irrevocable gift of cash, stock or other assets to the school and Shady Hill agrees to pay one or two people a guaranteed, fixed annual income for the rest of their lives, in the form of quarterly checks.
How is the annuity amount determined?
Your rate is determined by your age at the time that the gift is made. Older annuitants receive higher rates. Shady Hill follows the rates set by the American Council on Gift Annuities.
What is the minimum gift amount?
The minimum gift amount to establish a charitable gift annuity is $10,000.
Are the gift annuity payments guaranteed?
Yes. The assets of Shady Hill School guarantee your gift. As of March 2018, Shady Hill School's endowment had a value of approximately $54.3 million.
Are annuity payments taxable income?
Part of each annuity payment is tax-free and part of it is ordinary taxable income. Gifts of appreciated assets will see a portion of the gain taxed over the course of the annuity. Shady Hill will provide you with more information should you be interested.
Are charitable gift annuities tax deductible?
The IRS allows donors to deduct a portion of the gifted amount; most deductions range from 30-40% of the gift. US Treasury tables set the deduction, based on the annuitant's age, the annuity rate, and the date of the gift.
When do annuity payments begin?
Payments begin immediately or may be deferred until a future date. Deferred annuities offer a higher rate - often much higher than a current rate - but still generate a current income tax deduction. In addition, deferred annuities allow donors to align the start of an annuity with a future date, usually a retirement date.
What will my gift support?
Charitable gift annuities support the mission of Shady Hill. Unrestricted gifts are always welcome, as are gifts designated for specific purposes. For instance, you may designate your gift to the Teacher Training Course, campus renovations, or faculty professional development or it could add to the school's general endowment.
Where do I call or e-mail for more information?
Contact the Advancement Office at 617-520-5225.