PHILANTHROPY
Give the gift that pays you back IN 2003, ELEANOR D. (E.D.) KENNEDY and her late husband, Solomon B. (Sol) Kennedy ’49, established a charitable gift annuity. “My husband and I wanted to do something for Guilford College, never dreaming that it would also benefit us,” says E.D. Although Sol died in 2007, the CGA has continued to provide E.D. with annual payments for her life while also honoring their legacy of support for Guilford College. “The charitable gift annuity was easy to set up and I encourage others to do so,” says E.D. A charitable gift annuity is a contract between you and the College that provides advantages for both. You can make a gift and receive immediate financial benefits. By funding a charitable gift annuity, you will provide valuable support to Guilford and receive a charitable income tax deduction and fixed payments for your or your loved one’s lifetime. To learn more about CGAs or other planned gifts, call Jarrett Stull, Associate Vice President for Philanthropy, at 336.316.2168 or email stulljs@guilford.edu.
E.D. KENNEDY / PHOTO BY JENNA SCHAD
How Does a Charitable Gift Annuity Work? Donor, age 70, has made a gift of $100,000 to Guilford College to establish a charitable gift annuity.
$100,000 Cash
5.1% Gift annuity
Donor, 70 years old
8 | W W W. G U I L F O R D . E D U
$40,017 Income tax deduction $5,100 Annual payments $3,774 Tax-free portion $1,326 Ordinary income portion Payments made for life
Remainder to Guilford College
