Shady Hill School and the charitable gift annuity offer you an exciting and intelligent 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.
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.
What is the minimum gift amount?
The minimum gift amount to establish a charitable gift annuity is $5,000 for a one life annuity and $10,000 for a two-life annuity.
Are the gift annuity payments guaranteed?
Yes. The assets of Shady Hill School guarantee your gift. As of March 31, 2015, Shady Hill School's endowment had a value of approximately $48 million.
Are annuity payments taxable?
Part of each annuity 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 of charitable gift annuities 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 time 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, your gift could fund the Teacher Training Course, campus renovations, or faculty professional development or it could add to the permanent endowment that provides need annual operating support.
Where do I call or e-mail for more information?
Contact the Advancement Office at (617) 520-5238.