50th Reunion: The Benefits of a Charitable Gift Annuity
A CHARITABLE GIFT ANNUITY (CGA) is a contract between you and Williams; the college promises to make fixed (partially tax-free) payments for life to one or two beneficiaries in exchange for a gift of cash or securities. You are eligible for an immediate federal income tax charitable deduction. Upon the passing of the last of the beneficiaries, the balance of the account goes to support Williams.
Geoff Connor ’68, P’02 said, “My 50th reunion presented the perfect opportunity to make a once-in-a-lifetime, truly meaningful gift to Williams—a chance to see that the next generation is educated, not just in a trade, but in all aspects of life. I chose a deferred charitable gift annuity because I viewed it as a win-win. Receiving fixed income payments for life makes sense as an investment. Using appreciated securities to make that investment, I avoided some capital gains taxes and will claim a federal income tax charitable deduction for a portion of my gift. Williams just started sending me fixed quarterly payments (part taxable income, part tax-free). I benefit, and Williams benefits too.”