A donor may create a gift annuity by transferring assets such as cash, stocks, bonds and mutual fund shares to Saint Ursula Academy in exchange for a fixed, life-time income. Payments can begin immediately or at a specified future date. Income received by the donor may be partially tax-free. Donors are entitled to income tax deductions based upon the value of gifts and payment terms, and they avoid estate taxes.
This gift type is appealing to older donors seeking a guaranteed, fixed lifetime income.