Retired School Teacher Gave Back with a Charitable Gift Annuity
The late Kathryn Wall devoted over 30 years of her life to teaching students in various elementary grades in several school districts in southwest Nebraska. She retired and spent her final years in McCook, Nebraska. Kathryn wanted to make a gift to benefit one of her favorite charities. She turned to her CPA, Doug Skiles of McCook, for advice. An interesting personal note is that Doug is one of her former students.
“Over the years, Kathryn and I had discussed several gifting strategies, including the benefits of a charitable gift annuity. This was a very good fit with Kathryn’s situation.” A charitable gift annuity is a contract between a donor and the Nebraska Community Foundation. The Foundation agrees to pay to the donor a fixed and level amount of income for life. The annuity income can be over a period of one or two lifetimes. A charitable gift annuity provides an attractive current income tax deduction.
“Making a gift through a gift annuity makes me feel good. I like knowing my annual gifts will continue in the future with the earnings from the endowment that will be established with the gift annuity. Plus the income from the gift annuity gives me peace of mind that I am taking care of myself. I hope others consider doing the same thing,” explained Kathryn.
When Kathryn Wall passed away in 2011, the residual of her gift annuity was placed in endowments to benefit two of her favorite charities - a Christian radio station and McCook Community College. These gifts will go on giving for generations.