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Annuities • give gifts that give back

When you set up an annuity, you receive a stable source of income during your lifetime. Upon your death, the principal of the annuity is transferred to NLSF as a gift. You make an irrevocable transfer of money or other assets to NLSF, a portion of which is used to purchase an annuity. The remainder of the principal is considered an outright gift to the Schools Foundation, which transfers to NLSF upon your death.

The annuity pays you a fixed, guaranteed income for life or a specified time, regardless of fluctuations in the market. The amount of the annuity depends on your age and income requirements, but the rate is almost always higher than what you get from investments, plus it is guaranteed and relieves you of investment decisions and worries.

You may select an annuity that continues as long as either spouse lives. If your gift is funded with cash, a substantial part of the annual annuity payments may be entirely tax free.

A deferred annuity works the same way as a charitable gift annuity, except that the first annuity payment is deferred for at least one year from the date of the gift. This is an excellent method of arranging dependable retirement income. By deferring the date on which annuity payments begin, you will receive a larger income charitable credit in the year of the gift.

Benefits to you

  • Receive an immediate income tax credit and capital gains tax savings if transferring securities.
  • Gain a lifetime stream of fixed payments for you and/or your spouse, even in volatile markets.
  • Support a Schools Foundation priority that meets your interest, such as a financial award, special initiative or program.
  • Obtain a larger payout than the interest you would receive on many other investment options.

 

For more information

Crystal Dennison, Executive Director of Nanaimo-Ladysmith Schools Foundation, will work closely and confidentially with you and your advisors to ensure your planned gift suits your financial and philanthropic needs. Please contact Crystal at 250.753.4074 or Crystal.Dennison@sd68.bc.ca.

We work with: Cash donations, Memorial gifts, Endowment/Wills, Life Insurance policies, Securities
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