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A Marymount Manhattan Charitable Gift Annuity is an ideal way to accomplish your personal financial goals of maintaining or increasing your income stream and to support the mission of Marymount Manhattan.
What are the benefits?
- Lifetime income at attractive, fixed rates
- Eligibility for a charitable income tax deduction for a portion of the gift
- Reduction and deferral of capital gains taxes if appreciated securities are used
- Part of your annuity payments may be tax-free for a number of years
- Supporting Marymount Manhattan College
- Remove assets from your estate
How does it work?
- You make a one-time donation of at least $10,000 in cash or appreciated securities to MMC. In return for this donation, Marymount Manhattan pays one or two individuals of your choosing an annuity each year for life. You can choose to take payments immediately if you are 65 years or over or defer until a later age.
- You are eligible for an immediate income tax deduction for the part of your contribution that is considered a charitable gift. The annuity payments received may be partially tax-free during the annuitant's life expectancy. And you can reduce and defer capital gains taxes with donations of appreciated securities.
- At the end of the lifetime of the annuitant(s), MMC benefits by retaining funds remaining from your initial donation.
What is my annual annuity rate?
For a confidential, personal benefits profile and determination of your annual annuity rate please contact (212) 517-0454 or cbolt@mmm.edu.
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