You transfer cash or securities to Harford Community College Foundation. Our suggested minimum gift requirement is $10000.
Beginning on a specified date in the future, Harford Community College Foundation begins to pay you, or up to two annuitants you name, fixed annuity payments for a period of years that you determine.
Beneficiaries are recommended to be at least 65 to begin receiving payments and must be at least 40 to fund the gift.
The remaining balance passes to Harford Community College Foundation at the end of the term of years.
Benefits
Commuting payments permits a higher annuity rate and generates a larger charitable deduction.
You can target your annuity payments for the period of years when you need them, such as between retirement and when you are eligible for full Social Security benefits.
The shorter the period of payments, the higher each payment will be.
