NORTH ISLAND COLLEGE WWW.NIC.BC.CA

Annuities

When you donate through annuities like as a charitable gift annuity, you will receive guaranteed annual payments throughout your lifetime. The portion of the gift not required for purchase of the annuity is retained by the NIC Foundation and gives you an immediate tax benefit.

Charitable Gift Annuity

With a charitable gift annuity, a portion of your contribution is used to purchase an annuity for you while the remainder goes directly to the NIC Foundation as a gift.

Benefits to You

  • You receive guaranteed regular payments for the rest of your life that are largely tax-free.
  • You can reduce your taxes and increase your after-tax income now using a charitable tax receipt from the NIC Foundation for the value of your gift.
  • You have the satisfaction of seeing your gift to NIC Foundation in action in an area of your choosing.

Charitable Insured Annuity

With your purchase of a charitable insured annuity, a portion of your annuity income will be used to fund an insurance policy for which the NIC Foundation is the named owner and beneficiary.

Benefits to You

  • You receive guaranteed regular payments for the rest of your life that are largely tax-free.
  • You establish a significant future gift to students and education at North Island College.
  • You have peace of mind knowing that the premiums paid on the insurance policy are tax creditable to you and will boost your after-tax income now and in the future as long as premiums are being paid. As always, we encourage you to consult with your own tax and legal advisors for a full discussion on the benefits of charitable giving to the NIC Foundation. You can also visit Tax Benefits for more information.
Questions? Contact the NIC Foundation today.

Our website information is intended as a general overview only and not as legal or tax advice. Please consult with a qualified professional advisor to determine the best strategy for your situation.