Charitable Gift Annuity

Charitable Gift Annuity provides you with a fixed income.

What It Is

A charitable gift annuity is a simple, contractual agreement between you and the Lucy Robbins Welles Library Board of Trustees whereby you transfer assets (usually cash or securities) to the Lucy Robbins Welles Library in exchange for a guaranteed, fixed income to one or two income beneficiaries for life. After the lifetime of the income beneficiary(ies), the amount remaining in the gift annuity is used by the Lucy Robbins Welles Library to fulfill its mission.

Appreciated Securities

If appreciated securities are used to fund the gift annuity, a portion of the capital gains can be avoided completely with regard to capital gains tax. The remaining portion of gain can be spread over the expected term of the gift annuity agreement (provided the donor is also a primary annuitant).

Annuity Rate

The annuity rate is determined by the age(s) of the income beneficiary(ies) at the time the gift annuity is created. Each income beneficiary must be at least age 55 when annuity payments begin. The Lucy Robbins Welles Library follows the recommended rates as set forth by the American Council on Gift Annuities. Payments may be made on a quarterly, semi-annual or annual basis.

Deferred Gift Annuity

A special type of gift annuity is the deferred gift annuity. In this case, the start of payments are deferred until some point in the future, usually to supplement retirement income.

The current minimum amount necessary to establish a gift annuity with us is $25,000. Gift annuities may not be available in all states, so please check with us when considering this giving opportunity.