Financial security and peace of mind
Life is full of competing priorities. Often the things we want to do don't coordinate with what we know we need to do. If you are in or approaching retirement, you know that one priority is making sure you have enough income. As an additional benefit, you may find comfort in supporting the educational mission of Pomona College. The Pomona Plan aims to provide donors a “win-win” such that secure income and charitable giving don’t have to be competing priorities. Enter the Pomona Plan charitable gift annuity!
The benefits of establishing a charitable gift annuity
A charitable gift annuity is simple. You make a gift to Pomona of cash or appreciated securities, and Pomona agrees to pay up to two individuals a fixed income for life. The payments never fluctuate and are not affected by changes in the economy or financial markets. Pomona will give you a simple agreement for your records. Then just wait for the payments. In return for your gift, you will get an income tax charitable deduction for a portion of your gift. In almost every case some of your annuity payments will be partially tax-free for a time.
How to establish a Pomona Plan charitable gift annuity.
Once you decide to move forward to establish a charitable gift annuity with Pomona College, here is the process. We will guide you every step of the way.
- Contact the Gift Planning office at Pomona College to ensure that the age(s) of the annuitant(s) meet the Pomona Plan gift annuity policies.
- If you have not received a financial illustration for the gift you are considering, request the illustration from the Gift Planning office.
- Request a Gift Annuity Application form from the Gift Planning office.
- Complete the information on the application.
- Send the Gift Annuity Application to the Gift Planning office.
- If you are using a check to fund the gift, enclose your check with the application.
- Shortly after your application is received you will be sent a Charitable Gift Annuity Agreement, along with tax reporting information for when you file your income taxes.
- You'll need to sign the Charitable Gift Annuity Agreement and return it to Pomona. Pomona will provide a fully signed agreement to you.