City Seminary's Gift Annuity Program
Receive safe, guaranteed payments for life while helping City Seminary train the next generation of pastors!
How can I help City Seminary and also receive lifetime income?
By far, the best way to accomplish that goal is to establish a "Charitable Gift Annuity."
Thanks to a generous provision of the tax code, you can continue to receive fixed monthly checks for life when you list City Seminary as the beneficiary of your charitable gift annuity.
Your payments are guaranteed, and never fluctuate for your entire lifetime, and they are significantly higher than the rates one would typically receive with an investment like a certificate of deposit.
Make no mistake, it is a charitable gift, as opposed to an investment. The "investment," ultimately, will be in the ministry you choose to support. When you and your spouse (if you choose a two-person annuity) die, the remaining funds go to support the work of City Seminary.
To qualify, you need to be 55 years of age or older. The older you are, the higher the payments you will receive for life. As many other Christian colleges and ministries have done, City Seminary has selected WaterStone as our "service provider."
City Seminary's gift annuity program fits every need, every lifestyle.
Use Our Gift Calculator
Deduction calculations are available for gift annuities, remainder unitrusts, remainder annuity trusts and lead trusts. These calculations are provided solely for educational purposes and are not professional tax or legal advice. Individuals should consult a qualified professional advisor about their specific situation.
Bob Hermann, a widower, is 75 years old and would like to support the scholarship fund of City Seminary. Currently, he has a $50,000 Certificate of Deposit that earns only 2.8% interest annually. Mr. Schuman uses that interest income to help meet current expenses. His financial advisor suggested using a charitable gift annuity to substantially increase his income, while also helping the ministry of the seminary.
Mr. Hermann decided to gift the $50,000 to Waterstone (the seminary’s annuity provider) in exchange for a guaranteed lifetime 6.7% payout rate, calculated at the time of his gift and based upon his age category, fixed for life.
Mr. Hermann has dramatically increasedhis income, received a substantial tax deduction, reduced his eventual estate taxes and provided for a favorite ministry.