Gives immediate support to TCS while still ensuring a secure income stream for your lifetime.
Benefits of a charitable gift annuity:
- You will receive a guaranteed income for life.
- Depending on your age, a substantial portion or all of the annuity payment is tax-free.
- You can receive a charitable tax receipt for the gift portion of the payment.
How to make a gift of a charitable gift annuity:
- Contribute a lump sum to Trinity College School.
- TCS will use a portion of the total contribution to purchase the annuity from a licensed insurance company.
- The balance of the lump sum payment with be used as a donation to TCS, for which you receive a charitable tax receipt.
Duncan transfers $100,000 to TCS. The School then purchases an insured annuity that pays $5,000 per year. In addition, $25,000 of the funds becomes the gift portion and the amount of Duncan’s charitable tax receipt. This will generate a tax credit of $11,500 that can offset any taxes payable over the next five years.