Gifts That Pay You Income

 

gift annuity

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.

Benefits

  • 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.