Gifts That Pay You Income


Gifts That Pay You Income

You can continue your support for Benedictine College while you receive a steady stream of income for life. If you’re considering these types of gifts, we recommend you consult with your financial advisor.

Charitable Gift Annuities

You can transfer money to a charitable gift annuity and receive income for life.

This plan allows you to give a substantial donation (our minimum is $10,000) to Benedictine College while receiving tax-favorable income for life. Interest rates on charitable gift annuities are usually more attractive than certificates of deposit (CDs) and other bank rates. Benefits include:

  • Very attractive rates of return.
  • Payments are made monthly.
  • Depending on your age, all or a portion of the income will be tax-free.
  • Immediate tax receipt for a portion of your gift.
  • The residual portion of the gift can be designated according to your wishes.
  • Your gift passes to the College outside of the estate process.

Charitable Remainder Trusts

You can earn income for yourself or a beneficiary while supporting Benedictine College to form students in the Benedictine tradition. A charitable remainder trust (CRT) enables you to preserve or improve your financial security and make a gift to the college.

You may realize a significant benefit by transferring property to a trust that will eventually be a charitable gift to Benedictine College. Benefits include:

  • Gift is made during your lifetime or created through your will.
  • Tax savings are realized with a charitable gift receipt.
  • May permit gifting over time.
  • Your gift is protected from challenge by other potential beneficiaries.
  • Could result in favourable tax treatment of certain capital gains properties.

If you have any questions, please email Tim Andrews at tandrews@benedictine.edu. Thank you for your support.