Charitable Gift Annuity

Through this type of gift, an individual can make a gift of cash or stock and receive guaranteed fixed payments for life. These payments tend to be much higher than the return on many securities or CDs. The minimum gift requirement for this gift option is $10,000. The size of the annuity payment will depend on the ages of the beneficiaries and the value of whatever assets are donated. The rates are put forward by the American Council on Gift Annuities. After establishing a charitable gift annuity, you will be entitled to a current income tax deduction for a portion of the value of the assets that have been given to fund the annuity.

Deferred Gift Annuity

The creation of a deferred gift annuity permits an individual to take a tax deduction in the year the gift is made and plan the first annuity payment to come after one or more years with higher payout rates than immediate-payment gift annuity. This type of gift ensures retirement income that begin on a future date. The rates of the annuity depend on the length of the deferral period. To take part in this gift type, you must be at least 40 years old and meet the minimum gift requirement of $10,000. Younger donors find this type of gift especially advantageous.

Charitable Remainder Unitrust

A charitable remainder unitrust can be created by irrevocably transferring assets to a trustee, who in return invests the assets of the trust and pays you and/or other beneficiaries an annual income that will vary. Once the trust term is up, the remaining assets are then distributed to Saint Andrew’s School.

This gift vehicle is especially useful for gifts of appreciated stock or property since the trust is tax exempt and will not have to pay capital gains tax upon the sale of the assets. The amount of the payout will depend on whether the unitrust is set up as a net income unitrust, a standard unitrust, or flip unitrust. Any payouts that are distributed are usually taxable to the beneficiaries. When an individual creates a charitable remainder unitrust, he or she is entitled to a current income tax deduction that is usually between 30%-60% of the value of the transferred assets. The minimum required gift of this type is $100,000.

Charitable Remainder Annuity Trust

A charitable remainder annuity trust can be formed by irrevocably transferring assets to a trustee, who then makes fixed annual payments to one or multiple beneficiaries. Once the trust term has expired, the remaining assets are transferred to Saint Andrew’s School. When a charitable remainder annuity trust is established, the donor and the trustee agree to the annual payment amount. The annual payment amount must be at least 5% of the assets in the trust, and the the payments are usually taxable to the beneficiaries. The minimum required gift for this type of vehicle is $100,000.

About Us

A non-profit, independent, co-educational school for grades Pre-K - 12, Saint Andrew's School is a private day and boarding school located in Boca Raton, educating the best students from across Palm Beach County, Florida, the United States, and throughout the world in the Episcopal tradition.
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