Charitable Gift Annuity—Immediate Payment
How It Works
- Transfer cash or other property to State University of New York at Oneonta Foundation Corporation
- State University of New York at Oneonta Foundation Corporation agrees to make payments for the life of one and up to two annuitants (payments are backed by our entire assets)
- The balance of the transfer inures to State University of New York at Oneonta Foundation Corporation
- Payments for life that are favorably taxed
- When gift is funded with cash, part of payment will be tax-free
- When gift is funded with appreciated property, part will be taxed as capital gain, part will be tax-free, and part will be taxed as ordinary income
- Federal income-tax deduction for a portion of your gift
- Gift will provide generous support for SUNY Oneonta
* The information contained herein is offered for general informational and educational purposes. The figures cited are accurate at the time of writing. State law may affect the results illustrated. This is not legal advice. Any prospective donor should seek the advice of a qualified estate and/or tax professional to determine the consequences of their gift. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association.
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