From the Office of Planned Giving
The Crossnore School is blessed with an array of opportunities for friends to show their support. One of our newest ways is through our Charitable Gift Annuity Program. This is truly “the gift that gives back,” because it allows donors to make a gift, receive tax benefits and provide cash flow for themselves or someone they designate.
Contributions for a charitable gift annuity at The Crossnore School begin at $10,000. The amount of annuity payments depends on the current gift annuity rate, the value of the contribution, the number of annuitants and their age. Donors may also designate the interval on which their annuity is paid: monthly, bi-monthly, quarterly or annually. Usually, a portion of the initial gift is tax-free. A portion of the annual payment is taxed as a capital gain instead of ordinary income, and a portion may be tax-free. When the annuitant passes, the remainder of the gift, or residuum, then becomes the property of The Crossnore School. At the time they make the gift, donors may designate where or how they want The Crossnore School to use the residuum.
“This program is limitless in its options for donors who want to honor or remember someone special, or who want to establish a scholarship, fund a particular program, or maintain our beautiful campus in perpetuity,” said Dr. Phyllis Crain, Executive Director.
Let our Office of Planned Giving design a Charitable Gift Annuity for you. Call 828-733-1655 to discuss the possibilities with Chief Advancement Officer Laura Laughridge. Click the links below to see:
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