How It Works
- You transfer cash, securities or other appreciated property such as real estate to Franklin College
- Franklin College pays you, or up to two annuitants, a lifetime annuity.
- After the lifetimes of the beneficiaries, the remainder passes to Franklin College.
- You receive an immediate income tax deduction for a portion of your contribution.
- Your lifetime annuity is backed by a reserve and the full assets of Franklin College.
- Your annuity payments are treated as part ordinary income and part tax-free income. If the gift is funded with appreciated property, your annuity payments are also part capital gains income (15%).
- You have the satisfaction of making a significant gift that benefits you now and Franklin College later.
Click here to learn more about this option.