With a gift of $10,000 or more, you can establish a charitable gift annuity with Randolph-Macon College. A gift annuity is a simple contract whereby the College promises to pay one or two beneficiaries (for example, you and your spouse) a fixed amount per year for life. The rate of income, as recommended by the American Council on Gift Annuities, depends primarily on the age of the beneficiary or beneficiaries. The older the beneficiaries, the higher the rate.
Also, the rate will be increased if the donor delays receiving payments for a year or more after the date of the gift. Many donors use this type of deferred gift annuity to supplement retirement income.
At the death of the beneficiary or beneficiaries, the principal remaining in the annuity account will be used by the College for the purpose you designate.Some benefits of establishing a charitable gift annuity are:
In addition to these benefits, a gift annuity can provide generous support for the future of Randolph-Macon College.
A charitable remainder trust is a life income gift in which you make an irrevocable contribution of cash, securities, real estate, or other assets to a trust that ultimately benefits the College. You receive income from the trust for a period of time such as your life or the life of another, and the College receives the remaining trust principal at the end of the term, to be used for the purpose you designate.
There are two types of charitable remainder trusts-the charitable remainder unitrust and the charitable remainder annuity trust.
With the unitrust, the beneficiary or beneficiaries receive a fixed percentage of the annual value of the trust principal. Payments may fluctuate from year to year, since they are based on the changing annual value of the trust. The donor can make additional contributions to a charitable remainder unitrust.
With an annuity trust, the beneficiary or beneficiaries receive a fixed dollar amount annually. Payments will not fluctuate from year to year. Additional trust contributions are not allowed with a charitable remainder annuity trust.
Some benefits of establishing a charitable remainder trust are:
In addition to these benefits, a charitable remainder trust can provide generous support for the future of Randolph-Macon College.
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