• The donor transfers an asset (cash, stock, property, etc.) directly to the Mount and receives fixed payments for life.

Features

• The donor makes a gift of cash or property to the College.
• The Mount contracts with the donor to pay her, him, or others fixed guaranteed annual payments for life. The amount is calculated using the donor's age and current interest rates.

Benefits

• The donor receives a guaranteed lifetime income.
• A simple contract between the donor and the Mount is the only legal requirement.
• The Mount has current use of the portion of the gift not used for annuity payments.

Tax Consequences

• The donor receives a current charitable income tax deduction for a portion of the gift, based on adjusted gross income.
• Part of each annuity income payment is return of principal and is tax-free.
• The donor avoids capital gains tax on a portion of the appreciated property gifted.
• The property gifted is not subject to estate taxes.

Jean Zimmerman Kotzbauer '64, Director of Development, can help you create a charitable gift plan that will fulfill your financial and philanthropic goals. Contact her at jean_kotzbauer@mail.msj.edu or by phone at (513) 244-4475 or (800) 654-9314 ext. 4475.

The College of Mount St. Joseph is not engaged in rendering legal or tax advising services. For advice and assistance in your specific case, the services of an attorney or other professional advisor should be obtained.