I m interested in establishing a charitable gift annuity. What financial provisions does NYMA make for the income payments to me and my husband?
Your charitable gift annuity will be treated as a general obligation of the Academy, backed by all its assets. We have an unbroken record in making timely payments to our annuitants, and that ongoing responsibility is a key element in our financial policies. 9. I m establishing a unitrust. My bank will serve as trustee, and I m naming NYMA as the remainder beneficiary. My attorney is advising me to make that designation revocable. Will the Academy still recognize me as a donor? We are grateful that you have named us as beneficiary. The charitable portion of your gift is deductible for income tax purposes (see Question 3 above). Because our interest is not irrevocable, however, we cannot give you gift credit until our remainder interest is payable or made irrevocable.
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