What is a OLL School Charitable Gift Annuity?
It is a means of making an irrevocable gift to the Our Lady of Lourdes through the transfer of cash, CDs or other assets, such as securities or real estate. In return, the Our Lady of Lourdes School will make a contractual agreement to pay a fixed annual income for life. The annuity may be for one person or two people (a Joint and Survivorship Annuity). In a Joint and Survivorship Annuity the payments will continue for the life of both parties. The other party may be a spouse or any other person. Is my investment safe? The Our Lady of Lourdes school annuity program dates to the mid-1980s. Your gift is placed in a managed fund separate from other OLL investments. The income from this fund, together with a portion of the principal, helps make the payments. Your annuity is also backed by other assets of Our Lady of Lourdes. Gift Annuities are regulated by the U.S. Government and must conform to laws enacted in a number of states. The Internal Revenue Code permits non-profit organizations
