Gifts That Pay You Income
You can help us continue to create opportunities for our students to learn and grow in the classroom while earning an income from your gift.
Charitable Gift Annuities
Charitable gift annuities (CGAs) offer a secure, fixed payment stream for yourself and/or a loved one for your lifetime(s). You will also receive tax benefits and the satisfaction of creating a lasting legacy through Skidmore College.
How it works:
- You donate cash or appreciated securities worth $10,000 or more to Skidmore College. In return, you and/or another beneficiary will receive fixed payments for life.
- Your payment rate is based on your age (payments start at age 60 or later) and will never change.
- A portion of your payments will be tax-free.
- The older you are — or the longer you defer starting your payment — the higher your payments will be.
Benefits to you include:
Lifetime payments that will never change.
Capital gains tax savings when you fund your CGA using appreciated stock.
You are eligible for an immediate charitable income tax deduction.
Your gift passes to Skidmore College outside of the estate process.
You create your legacy of broadening perspectives, creating opportunities, and achieving goals.
Charitable Remainder Trusts
A Charitable Remainder Trust (CRT) is a tax-free trust that pays you and/or other beneficiaries an annual distribution. This payment is either a percentage of the annual value of the trust, or a percentage of the original gift amount.
How it works:
- You transfer cash or an appreciated asset* into an irrevocable trust.
- The trustee then sells the asset, paying no capital gains tax, and reinvests the proceeds.
- For the rest of your life (or a term of years), you and/or another beneficiary receive payments from the trust.
- After your lifetime, the remaining principal is used to support the mission of Skidmore College.
Benefits to you include:
You receive income for life for you or your heirs.
You receive a charitable income tax deduction for the charitable portion of the trust.
You create your legacy of creating opportunities for our students to learn and grow in the classroom.