Definitions for "Life Income Gift"
a gift that allows the donor or someone designated by the donor to receive income for life, after which the Hollings Cancer Center receives the use of the gift for the purpose specified by the donor. Life income gifts are often used by supporters who need the income their assets can provide during their retirement years, but wish to make a significant gift to the Hollings Cancer Center
A planned gift that makes payments to the benefactor and/or other beneficiaries for life or a term of years, then distributes the remainder to charity.
An irrevocable gift of cash, securities and/or real estate to the Foundation, with the donor receiving income from the donated assets for a period of time through an annuity or trust arrangement for himself or herself and/or other beneficiaries.