Live Your Legacy at Molloy

Secure Your Future with a Charitable Gift Annuity

Make a meaningful gift that supports Molloy University's mission while ensuring you receive a guaranteed, secure "paycheck" for life.

Other Benefits Include:

Tax Free Payments

Tax Free Payments

Receive a portion of your fixed payments tax-free for several years.

Higher Returns

Higher Returns

Enjoy higher payout rates than CDs and savings accounts—while making a difference.

Charitable Tax Deduction

Charitable Tax Deduction

Support a cause you care about and qualify for an immediate tax deduction.

How Does a Charitable Gift Annuity Work?

Calculate Your "Paycheck" Here

Use our simple Gift Annuity calculator to see your approximate guaranteed payments for life.

Try It Now

Additional Information

  • Guaranteed Income for Life: Receive reliable, fixed payments for life, unaffected by market fluctuations.
  • Higher Payout Rates: Earn significantly higher returns than CDs or savings accounts—up to 8% or more, depending on your age.
  • Immediate Tax Savings: Qualify for a charitable tax deduction in the year you make your gift.
  • Tax-Free Payments: Enjoy a portion of your annuity payments tax-free for several years.

A Charitable Gift Annuity may be a great fit if you:

  • Want to make a meaningful gift while receiving guaranteed lifetime payments in return.
  • Prefer higher, tax-advantaged payments from your planned gift.
  • Value the security of fixed payments that never change.
  • Appreciate that your payments are backed by Molloy University's financial strength.
  • Like the idea of supplemental income you can't outlive.

Among all gifts that provide income, a Charitable Gift Annuity (CGA) is one of the simplest, most affordable, and most popular options. You make a donation to Molloy University, and in return, we agree to provide you with fixed lifetime payments.

The agreement is a straightforward contract between you and Molloy University. When the contract ends, the remaining balance of the annuity supports the area of our mission that you designated when you made your gift.

Key Tax Benefits

  • Income Tax Deduction: You receive a federal income tax deduction for a portion of your gift, based on the full value of your contribution minus the present value of the payments you receive.
  • Capital Gains Tax Advantage: If you fund your CGA with appreciated securities and name yourself as the beneficiary, you avoid immediate capital gains tax. Instead, a portion of your capital gain is taxable over time as you receive payments.
  • Tax-Free Payments: A portion of each annuity payment is treated as a tax-free return of principal, effectively increasing your overall yield.

Flexible Payment Options

  • You can start receiving payments immediately (Immediate Payment Gift Annuity).
  • You can defer payments to a later date, increasing your annuity rate and charitable deduction (Deferred Payment Gift Annuity).

Common Uses

Supplementing Retirement Income

If you are retired and seeking higher, stable returns on low-yield investments (such as CDs or bonds), a CGA provides guaranteed, fixed income for life at rates often higher than traditional savings options.

Once the annuity matures, your gift supports Molloy University's mission.

Providing for Aging Parents

If you are part of the "sandwich generation"—caring for children while also supporting aging parents—an annuity can provide fixed, reliable income directly to your parents.

This allows you to assist them without financial strain, while also benefiting from an income tax deduction.

Key Planning Points

  • A Charitable Gift Annuity at Molloy University can be established with a minimum gift of $10,000.
  • CGAs make life-income gifts accessible to a broad range of donors.
  • Payments can be made to a maximum of two beneficiaries.
  • Payout rates depend on the age of the beneficiary—older donors receive higher payouts.
  • Younger donors may benefit from a Deferred Gift Annuity, which allows payments to begin at a later date for a larger charitable deduction and a higher payout rate.
  • A Charitable Gift Annuity can be an essential component of a comprehensive retirement and estate plan.

Frequently Asked Questions About Charitable Gift Annuities

Contact us, and we will deliver a personalized illustration just for you.

A gift annuity contract becomes a legal financial obligation of Molloy University and is backed by all of our unrestricted assets.

Both have distinct advantages. A cash gift produces a larger tax-free portion of the annuity, while appreciated securities can increase your income by reducing capital gains costs. Both provide an equal annuity rate and charitable income tax deduction. You can also fund a gift annuity through your retirement plan.

A charitable gift annuity can only be set up for one or two lives, and certain age restrictions apply. Please contact us for more details about beneficiary options.

A commercial annuity—typically sold by banks and life insurance companies—provides fixed or variable income based on market returns and assumes full asset depletion. In contrast, a charitable gift annuity is part guaranteed income and part charitable contribution. You receive a partial income tax deduction based on the portion of the gift that ultimately benefits Molloy University. While commercial annuities may offer higher rates, charitable gift annuities provide significant tax benefits and stable lifetime payments.

Yes. You can make a gift now for an annuity contract that defers your payments to a future date—typically during your retirement years when you need the income. In this way, a deferred payment gift annuity can serve as a tax-deferred savings plan that guarantees income in the future. Please contact us for more details.

Generally, the minimum age for establishing a charitable gift annuity is 65. If you choose a deferred annuity, you may be able to establish it at a younger age and begin receiving payments later.

No. Your annuity payments are fixed for life based on the rate determined at the time you establish your gift annuity. Payments will not fluctuate with market conditions, making this a reliable source of lifetime income.

Upon the passing of all income beneficiaries, the remaining balance of the gift annuity will be used to support Molloy University, ensuring your charitable legacy continues.

Yes, in some cases. The IRS allows a Qualified Charitable Distribution (QCD) from an IRA to fund a charitable gift annuity. However, there are specific rules and limitations. Contact us for details on whether this option works for your situation.

A portion of your annuity payments will typically be tax-free for several years, and the remainder may be taxed as ordinary income or capital gains, depending on the funding asset. We recommend consulting your financial advisor or accountant for personalized tax guidance.

Yes! Many donors establish multiple gift annuities at different times to stagger their payments, increase future income, and maximize tax benefits.