Life income gifts allow you to make a gift that will benefit The Pathway School in the future, while you (or your designees) receive income for life.
Charitable Gift Annuity
A Charitable Gift Annuity is a simple contract between you and The Pathway School that is irrevocable. In exchange for a gift of cash, marketable securities or other assets, The Pathway School will agree to pay you a fixed sum regularly for life. You will receive an income tax charitable deduction and the gift will revert to The Pathway School at the end of the annuity term.
Charitable Trusts
There are several types of trusts that can be established to benefit The Pathway School for a specified period of time, or to provide a bequest after providing life income benefits.
Charitable Remainder Trust
You can set up a Charitable Remainder Trust that will pay you (and one or more other named beneficiaries if desired) income for life or a period of time not to exceed 20 years. At the end of the term, the remaining assets are distributed to The Pathway School .
You may fund the trust with cash, securities or real estate. Such a gift removes the principal amount from your estate and enables you to avoid paying estate taxes. Additionally, you will receive an immediate charitable tax deduction for the remainder value of the principal that goes to The Pathway School .
Charitable Lead Trust
Charitable Lead Trusts provide an income to The Pathway School for a specified period of time, after which the remaining assets pass to non-charitable beneficiaries. If structured correctly, you will be able to obtain an income tax deduction for the charitable lead interest.
