When you are looking for ways to help Mount St. Mary’s College with our mission, you shouldn't feel like you are choosing between your philanthropic goals and financial security. One gift that allows you to support Mount St. Mary’s College's work while receiving fixed payments for life is a charitable gift annuity.
Not only does this gift provide you with regular payments and allow us to further our work, but when you create a charitable gift annuity with Mount St. Mary’s College you can receive a variety of tax benefits, including a federal income tax charitable deduction.
Delay Your Payments
If you are younger than 65 or don't need your payments immediately, you can set up a deferred gift annuity. This allows you to delay receiving payments until a later date—such as when you reach retirement. To learn more, view and download the FREE guide Plan for Retirement With a Deferred Gift Annuity.
Pat Gisler Galt '47 knew after she graduated from Mount St. Mary's College she would eventually give back to the College that has given her so much. Pat and her late husband, Kirby, decided to establish a charitable gift annuity with the Mount, which enabled them to make a gift to Pat's alma mater, receive annual fixed income for life, as well as a tax deduction in the year of the gift. The annual distributions Pat continues to receive have helped to supplement her retirement income. "A charitable gift annuity allowed us to support the Mount, and receive an income stream at the same time," explains Pat.
Pat was raised in Oxnard, California and was encouraged by the Sisters of St. Joseph of Carondelet and her family to attend Mount St. Mary's College. She attended MSMC along with three other girls from grammar school, and after college they remained life-long friends. One of Pat's favorite memories was playing tennis at the Mount. She and her friends started the tennis program at the school. Pat was proud of the fact that, "We never lost!"
Pat graduated with a degree in social work from MSMC and later got her teaching credential at USC. She went on to teach elementary school for over 30 years. Currently, Pat is expecting her first great-grand baby and is able to enjoy her family and friends, who live nearby. "I've always loved Mount St. Mary's College," says Pat, "and I got a great education!"
See How It Works
Learn How to Fund It
You can use the following assets to fund a charitable gift annuity:
Contact Cindy F. Hizami at 213.477.2740 or email@example.com for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with Mount St. Mary’s College.
Seek the advice of your financial or legal advisor.
If you include Mount St. Mary’s College in your plans, please use our legal name and Federal Tax ID.
Legal Name: Mount St. Mary's College Address: 10 Chester Place Los Angeles, CA 90007
Federal Tax ID Number: 95-1641455
Learn more about the many benefits of a charitable gift annuity in our FREE guide Strengthen Your Future With a Charitable Gift Annuity.
A charitable bequest is one or two sentences in your will or living trust that leave to Mount St. Mary’s College a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.
an individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust or retirement plan
“I, [name], of [city, state ZIP], give, devise and bequeath to Mount St. Mary’s College [written amount or percentage of the estate or description of property] for its unrestricted use and purpose.”
able to be changed or cancelled
A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.
cannot be changed or cancelled
tax on gifts generally paid by the person making the gift rather than the recipient
the original value of an asset, such as stock, before its appreciation or depreciation
the growth in value of an asset like stock or real estate since the original purchase
the price a willing buyer and willing seller can agree on
The person receiving the gift annuity payments.
the part of an estate left after debts, taxes and specific bequests have been paid
a written and properly witnessed legal change to a will
the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will
A donor-advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much money (and how often) you want to distribute money from that fund to MSMC or other charities. You cannot direct the gifts.
An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.
Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.
Securities, real estate, or any other property having a fair market value greater than its original purchase price.
Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property or undeveloped land.
You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the gift tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.
You fund this type of trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to MSMC as a lump sum.
You fund this trust with cash or appreciated assets—and receive an immediate federal income tax charitable deduction. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to MSMC as a lump sum.
A beneficiary designation clearly identifies how specific assets will be distributed after your death.
A charitable gift annuity involves a simple contract between you and MSMC where you agree to make a gift to MSMC and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.
To avoid the administrative hassles of selling real estate during your lifetime, give it to us through a bequest.
A portion of the distributions from commercial annuities is subject to income tax for non-charitable beneficiaries. Naming MSMC as a beneficiary of all or a portion of your commercial annuity will allow us to receive the assets you designate to us completely tax-free.
The full value of your IRA, 401(k), 403(b) or other qualified plans is subject to federal and state estate taxes at your death and the distributions from these accounts are subject to federal and applicable state income taxes. Instead, consider naming MSMC as a beneficiary of all or a portion of your plan.