SUMMER 2023
CGA: The Gift that Pays You
A A few years ago, as Roger Keith ’67 was preparing for retirement, he began exploring ways he could give back to Boston College. A charitable gift annuity (CGA) stood out as the ideal option for his portfolio. “Not only does the CGA provide us some income and a tax benefit at the outset, it also has the added upside of helping BC in the long run,” says Keith. “It’s my own small contribution to this wonderful place that did so much for me.”
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Not only does the CGA provide us some income and a tax benefit at the outset, but it also has the added upside of helping BC in the long run.
How does a CGA work?
With a charitable gift annuity, you make a gift to Boston College and receive an immediate charitable tax deduction plus fixed payments for life for you or other beneficiaries you name. What’s more, your gift will provide future support to BC!
If you don’t need income right away, you can defer payments until a later date. A deferred gift annuity still provides the same immediate tax benefits while building up resources for your future, which results in a larger income stream for you. If you are not sure when you would like to start receiving payments, you can choose from a determined time range by setting up a flexible deferred gift annuity. Whatever you decide, your income will be taxed at a favorable blended rate.
Your gift annuity payment amount is based on three factors: the age of the beneficiary(ies), when your payments start, and the size of the gift. (See chart below.) The minimum amount to establish a gift annuity is $25,000.
Now’s the time to lock in a fixed, reliable income
CGA rates are higher than they have been in over a decade, which means higher income—for you.
Now is the ideal time to consider establishing a CGA to make a profound impact at Boston College and receive a fixed annual income for life, regardless of the economy’s ups and downs. It’s the gift that pays you!
SEE FOR YOURSELF
Use our free online calculator to explore what a charitable gift annuity can do for you.
More from this edition
Q&A with State Street’s Carolyn Freeman
If her name rings a bell, it is probably because you have already established a CGA or trust with BC.
A Legacy of Generosity
A recent, generous bequest intention from Esther Chang ’02, JD’07, has deepened her commitment to her alma mater.
Make a Bigger Impact Than You Imagined
Your planned gift is a tangible representation of your belief in BC’s faculty, students, and mission. Truly, gifts like yours help Eagles feel inspired.
