CHARITABLE GIFT ANNUITIES

HowItWorks
Benefits
NextSteps
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To establish a charitable gift annuity, you would make a gift to the Northshore Schools Foundation and in exchange receive a fixed annual dollar amount for life. The principal remaining at your death will then benefit any Northshore Schools Foundation program that you choose. The minimum gift accepted to establish a charitable gift annuity with the Northshore Schools Foundation is $10,000. The charitable gift portion of the gift annuity must exceed 10% of the amount contributed for the annuity (computation based on IRS tables)

While gift annuities can be funded at any age, the Foundation is only able to accommodate income beneficiaries between the age of 40 and 60 for deferred gift annuities, and there can be no more than two beneficiaries.

How It Works

1. Transfer cash or other property to the Northshore Schools Foundation.
2. Northshore Schools Foundation guarantees that lifetime payments will be made for up to two annuitants.

Benefits

Guaranteed payments for life that is favorably taxed.

1. When gift is funded with cash, part of payment will be tax-free.
2. When gift is funded with appreciated property, part will be taxed as capital gain, part will be tax-free, and part will be taxed as ordinary income.
• Receive a federal income tax deduction for a portion of your gift.
• Your gift will provide generous support for the Northshore Schools Foundation.

Next Steps

Contact us to learn more about this gift plan or other options.

Policies regarding charitable gift annuities
Northshore Schools Foundation follows the suggested rates based on age by both the Committee on Gift Annuities and the prevailing rates established by large nonprofit organizations, unless that rate would result in the gift portion of the annuity being valued under 10% of the amount transferred for the annuity.
Administrative fees shall be paid from and not exceed the income earned on the charitable gift annuity.
No generation skipping transfers will be accepted.

Please note that no information on this website should be considered as the rendering of legal, accounting or other professional advice. Please consult your personal tax and financial advisors before implementing a planned gift to charity, including the Northshore Schools Foundation. These investment options may have specific consequences for your estate planning. As always, we would be pleased to discuss in confidence how your gift can impact Northshore students.