Gifts That Pay You Income
|How It Works
- You transfer cash or securities to the Kingsborough Community College Foundation. Our suggested minimum gift requirement is $10,000.
- Kingsborough pays you, yourself and a spouse, or any two beneficiaries you name, fixed income for life.
- Beneficiaries are recommended to be at least 65 years of age at the time of the gift.
- The remaining balance will be applied by Kingsborough to the purpose you stipulated, when you signed the annuity contract.
- Receive dependable, fixed income for life in return for your gift.
- In many cases, receive payments at a rate higher than the interest you are currently receiving from stocks, CDs, or savings accounts.
- Receive an immediate income tax deduction for a portion of your gift.
- A portion of your annuity payment will be tax-free.