For people who want to give back, consider a gift that gives back to you. Through a charitable gift annuity, alumni and friends of ESCC may secure a lifetime income while making a major impact on ESCC.
Charitable Gift Annuities are
- A contract exchanging cash or securities for the guarantee of the ESCC Foundation (or the Virginia Foundation for Â鶹ÊÓƵ College Education in some cases) to make fixed quarterly payments as long as either annuitant(s) live.
- A great way to partner with the ESCC Foundation, sharing property to support its work.
Gift annuities benefit both ESCC and the donor(s). They:
- may be established with gifts of cash or securities valued at $10,000 or more.
- may make payments to either one or two annuitants.
- make fixed payments based upon the age of the annuitant(s) when the annuity is established. The older the annuitant(s) are, the higher the fixed percentage payment rate will be. .
- have helped many community college alumni and friends to realize their dreams for their college.
A gift with many tax benefits, including:
- An immediate and significant charitable deduction from income tax, as provided by law;
- Avoidance of capital gain tax on appreciated property transferred in exchange for the annuity;
- Stable, substantial income backed by the assets of the issuing foundation, and
- A major gift that will perpetuate ESCC’s mission, and your support for it
If you would like to see an example of a charitable gift annuity based on your age and an amount set by you, contact Patty Kellam at 757-789-1749 or pkellam@es.vccs.edu. Patty can illustrate for you a gift annuity based upon gift amount and other facts specified by you.