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  • Charitable Gift Annuities - Leaving a Legacy

                                                           
    A Charitable Gift Annuity is a simple contract between you and Elmira College in which the College agrees to pay you or you and another beneficiary a guaranteed fixed income for life in exchange for a gift of cash or marketable securities. The gift annuity payments are guaranteed by the entire asset base of the College.

    The life of the income beneficiary (the person to receive the annuity payments) is an important factor in determining the payment that Elmira College can guarantee. Gift Annuities can be funded by cash or marketable securities. Depending on the type of asset used to fund the gift annuity, a portion of your gift annuity payments will be tax free to you. In addition, you will receive a charitable tax deduction for a portion of your gift annuity investment.

    Gift Annuity rate examples are listed below and are age dependent.

    Establishing a gift annuity counts toward Reunion gift totals.




     Single Person Elmira College

          

     Multiple Person Elmira College

     Gift Annuity

     

     Gift Annuity

     Age
    Rate of Payment
    (annual)
       Age
    (1st-2nd Ben.)
    Rate of Payment
    (annual)
    50 3.7%
      50/53
    3.2%
    65 4.7%   65/68 4.3%
    75 5.8%
      75/77
    5.1%
    85 7.8%   85/87 7.0%
    90
    9.0%   90/95 8.8%


      For Further Information, contact:
      Peggy Harris Arnesen ’63
      parnesen@elmira.edu 
      Director of Major and Planned Gifts
      Elmira College
      One Park Place
      Elmira, NY 14901
      (607) 735-1893