Development and Alumni
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Life Income AgreementsIncome for Life
If this type of gift is new to you, think of it as giving your money to New York Medical College and having it too. Life income agreement is a general term that includes charitable gift annuities and charitable remainder trusts. Here's how these irrevocable gifts work.
You and/or a second beneficiary will receive income for life with a gift of $10,000 or more (the minimum gift to establish a charitable gift annuity). After the beneficiaries are no longer living, the College will use your gift for the purpose you have specified.
Advantages of a life income agreement
• You will receive income for life.
• If you give low-yielding securities, you may actually increase your current income.
• If you give appreciated securities owned for more than 12 months,
you may avoid capital gains taxes.
• You will receive an immediate income tax charitable deduction.
• You may reduce your estate tax.
• You will have the satisfaction of supporting NYMC.
• And you will be invited to join the Legacy Society.
Types of life income agreements
• Charitable Gift Annuities
• Deferred Gift Annuities
• Charitable Remainder Trust
More information
To request brochures, specific gift examples, or other information, call 914-594-4550, send an email to the University Development Office at development@nymc.edu, or write to:
New York Medical College
University Development
Valhalla, NY 10595
We will work with you and/or your advisors to ensure that after your lifetime your gift benefits an area of the College that is important to you.
The New York Medical College Planned Giving pages are intended to provide general information, not legal or tax advice about specific situations or problems. Donors are encouraged to consult a lawyer or accountant for legal or tax matters.