Gifts That Pay You Income
Give and Receive: Charitable Gift Annuity
Payments for Life
Learn more about the many benefits of a charitable gift annuity in our FREE guide Strengthen Your Future With a Charitable Gift Annuity.View My Guide
There is a way for you to support Bates and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity.
This type of gift can provide you with regular payments and support Bates. You may also qualify for a variety of tax benefits, including a federal income tax charitable deduction.
Gifts That Pay
Your payments depend on your age at the time of the gift. If you are younger than 60, we recommend that you learn more about the options and download this FREE guide Plan for Retirement With a Deferred Gift Annuity.
How It Works
Say that David, 68, and Mary, 67, want to make a contribution to Bates but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity.
Based on their ages, they will receive a payment rate of 4.3 percent, which means that they will receive $860 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $5,544* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support our mission.
*Based on annual payments and a 2.4 percent charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
*Due to regulations which differ from state to state, there are some states in which Bates is not able to issue charitable gift annuities.
Calculate Your Benefits
Submit a few details and see how a charitable gift annuity can benefit you.
Download our FREE Personal Estate Planning Kit
Not Sure How to Begin Planning?
- Contact the Office of Gift Planning at (207) 786-6246 or Toll-free: (800) 762-3145 or email@example.com for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with Bates.
- Seek the advice of your financial or legal advisor.
- If you include Bates in your plans, please use our legal name and federal tax ID.
Legal Name: President and Trustees of Bates College
Address: 2 Andrews Road, Lewiston, ME 04240
Federal Tax ID Number: #01-0211781
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.