A Charitable Gift Annuity (CGA) is a simple agreement between you and New England Conservatory. In exchange for an irrevocable transfer of assets, NEC will pay you, or the beneficiaries you choose, a fixed income for life. When the annuity matures following the death of the beneficiary(ies) the remaining principal comes to NEC to be used as you have determined.
A CGA offers a number of attractive benefits including:
- Income for life for up to two beneficiaries (i.e. yourself and your spouse/partner, your parents). The amount of payment is determined by the age(s) of the beneficiary(ies).
- Tax-free income in most cases. The amount of tax-free income is determined by IRS tables.
- Potential additional tax benefits including a charitable income-tax deduction, estate-tax savings and partial avoidance of capital-gain taxes.
- You may designate how NEC will use your gift. We welcome the opportunity to consult with you to determine how your legacy can best support a particular area of need.
If you would like a personalized profile of what your Charitable Gift Annuity benefits would be, please e-mail Simon Welsby, Executive Director of Development or call