| A gift annuity agreement is a simple, contractual agreement whereby Mount St. Mary's pays you or your beneficiary a specified annuity for life in exchange for a gift. The amount of the annuity depends, in part, on the size of the gift and the life expectancy of the annuitant as well as general market rates. At the end of the lives of the beneficiaries, the principal comes to the Mount and can be directed to a specific area. A portion of the gift can be taken as an income tax deduction. In addition, a portion of each annuity payment is tax-free. This planned giving method is appropriate for gifts of $10,000 and up.
If you would like to see how a gift annuity could benefit you, check out our gift annuity calculator.
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