Charitable Gift Annuity
Westtown School offers Charitable Gift Annuities in partnership with Friends Fiduciary Corporation (FFC), a Quaker, non-profit organization providing socially responsible investment management services exclusively to Quaker meetings, churches, schools and organizations.
Here’s how it works: You transfer assets (cash or securities, minimum $10,000) to FFC to fund your charitable gift annuity (CGA). The CGA provides a fixed lifetime income payment to you, or to one or two life income beneficiaries (annuitants) you may designate. (For example, you can establish a CGA to provide lifetime income for an older family member or friend.) After the death of the annuitant(s), the remainder of the gift is transferred to Westtown School.
The annuity rate depends on the age(s) of the annuitant(s); the older the annuitant(s), the higher the rate. If you are still working and don’t need the income now, you can fund a Deferred CGA or Flex CGA to take advantage of the immediate charitable deduction, and start receiving income some time in the future. To learn more about CGAs and to use the Online Gift Calculator, go to Charitable Gift Annuities.
Charitable Remainder Trust
You can establish a Charitable Remainder Trust (CRT) for the benefit of Westtown School with Friends Fiduciary Corporation (FFC), a Quaker, non-profit organization providing socially responsible investment management services exclusively to Quaker meetings, churches, schools and organizations, or with a commercial bank. CRTs provide income for one or more individuals for life or a term of years, and then a substantial gift to charitable organizations at the end of the term or the death of the last beneficiary. They can also provide significant tax savings or avoidance.
To learn more about CRTs, visit Charitable Remainder Trusts.