Performances + Events Fund a Charitable Gift Annuity with Cash and Receive Payments for Life
Creating a Charitable Gift Annuity (CGA) with a cash contribution is a straightforward way to support New England Conservatory while securing payments for life. For many donors, funding a CGA with cash offers both financial stability and the satisfaction of making a lasting impact. Here’s how it works and what you can expect.
What is a Charitable Gift Annuity?
A Charitable Gift Annuity is a simple contract between you and New England Conservatory. You donate cash, and in return, New England Conservatory agrees to make fixed payments to you for life. Your payment amount is determined by your age at the time of the gift and does not change over your lifetime, providing reliable income regardless of market fluctuations.
Key Benefits of Funding a CGA with Cash
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Fixed Lifetime Payments
You receive fixed payments for life, providing financial security, especially if you are a retiree looking for stable income. Typically, a portion of each annuity payment is tax-free for many years. This can enhance the financial benefit of your gift. -
Charitable Deduction
You receive an immediate income tax charitable deduction for a portion of your cash gift, subject to IRS limitations. You may carry forward any unused deduction for up to five additional years. -
Meaningful Impact
Your cash contribution to a CGA supports the mission and work of New England Conservatory. It’s a way to give back in a meaningful way, ensuring that your legacy advances a cause you care about. -
Ease of Setup
Cash-funded CGAs are simple to establish. They do not involve the complexities associated with some other assets, such as appreciated securities or real estate. You can complete the process efficiently with the help of New England Conservatory's gift planning team.
Consult with Your Advisors
A Charitable Gift Annuity funded with cash is a powerful way to secure fixed payments for life and tax benefits while supporting the values and work of New England Conservatory.
Before you fund a Charitable Gift Annuity, however, we encourage you to speak with your financial and tax advisors about your plans.
Next Steps
If you would like to explore establishing a CGA with cash or other assets, please contact us. We can provide you with information tailored to your needs, including the current annuity rates, potential tax benefits, and the long-term impact of your gift.
Thank you for considering a generous gift to help sustain New England Conservatory.
Additional Giving Options
By making a planned gift, you can strengthen NEC and gain financial and tax benefits for you and your family. For more information, please contact Aaron McGarry, Planned Giving Officer, by email or by phone at 617-585-1356.
Real estate can be contributed as an outright gift or to finance a planned gift. Available options include a retained life estate, which allows the donor to continue to use the property for a certain number of years, or for the donor’s lifetime. Other arrangements offer special tax advantages and lifetime income.
Gifts of real estate include undeveloped land, a residence, a vacation home, a farm, or commercial property. NEC requires the donor to bear certain costs when making a real estate gift, such as an appraisal to determine the fair market value. Also, NEC deducts transaction costs from the proceeds of the sale of the property, including the closing costs, title insurance, a survey (if needed), and any taxes due before the gift is completed.
For any questions about gifts of real estate, please contact Abigail Smitka, Assistant Vice President of Major Gifts and Campaigns, at as3628@necmusic.edu or (617) 585-1719.
Many companies support the philanthropic interests of their employees by matching employee contributions to nonprofit organizations like NEC. If your employer offers a matching gift program, you may be able to double or even triple your gift!
For more information on matching gift contributions, please contact Cheryl Fries, Assistant Director of Advancement Operations, at cheryl.fries@necmusic.edu or (617) 585-1373.
Gifts of personal property, such as musical instruments, recordings, and scores provide valuable support for our music education programs. Through the support of in-kind gifts, you can help NEC meet the college’s ongoing need to expand its inventory — and you qualify for a tax deduction.
NEC accepts in-kind donations on a case-by-case basis. For more information, please contact Patricia Kopko, Director of Advancement Operations, by email or phone at 617-585-1225
Friends of NEC may elect to make gifts to commemorate a loved one’s life, birthday, anniversary, or other special occasion. We will gladly notify those you wish to know of any gifts made in their honor.
Contributions in any amount may be directed to The NEC Fund, or to the area of your choice. Please note the name of the person you wish to commemorate when you make your gift.
Contact Us
To learn more about how you can support NEC, please contact Cheryl Fries, Assistant Director of Advancement Operations, at cheryl.fries@necmusic.edu or (617) 585-1373.
New England Conservatory is a 501(c)3 non-profit organization. All donations are tax deductible to the full extent of the law. Our non-profit tax ID is 23-7225104.
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