Life Income Gifts
Charitable Gift Annuity
A Charitable Gift Annuity (CGA) is a simple agreement between you and New England Conservatory. In exchange for an irrevocable transfer of assets, NEC will pay you, or the beneficiaries you choose, a fixed income for life. When the annuity matures following the death of the beneficiary(ies) the remaining principal comes to NEC to be used as you have determined.
A CGA offers a number of attractive benefits including:
- Income for life for up to two beneficiaries (i.e. yourself and your spouse/partner, your parents). The amount of payment is determined by the age(s) of the beneficiary(ies).
- Tax-free income in most cases. The amount of tax-free income is determined by IRS tables.
- Potential additional tax benefits including a charitable income-tax deduction, estate-tax savings and partial avoidance of capital-gain taxes.
- You may designate how NEC will use your gift. We welcome the opportunity to consult with you to determine how your legacy can best support a particular area of need.
Sample CGA Rates
| One-Life Annuity | Two-Life Annuity | ||
Age |
Annuity Rate* |
Ages |
Annuity Rate* |
65 |
5.5% |
70, 67 |
5.5% |
75 |
6.7% |
75, 73 |
5.9% |
85 |
8.9% |
85, 84 |
7.3% |
90+ |
10.5% |
92, 89 |
8.8% |
* Rates are as of July 1, 2008. Annuity rates are potentially subject to change and are determined by the timing of your investment.
Interested? Run a CGA sample calculation.
For More Information
If you would like a personalized profile of what your Charitable Gift Annuity benefits would be, please contact:
Marian Alper
Director of Major Gifts
New England Conservatory
290 Huntington Avenue
Boston MA 02115
(617) 585-1196
MAlper@newenglandconservatory.edu
updated 24 June 2008