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Campiagn for Culinary
HGTC Foundation

HGTC Foundation

743 Hemlock Ave
Myrtle Beach, SC 29577
(843) 477-2112
fax: (843) 477-2103

Conway Campus

PO Box 261966
Conway, SC 29528-6066
(843) 347-3186

Grand Strand Campus

743 Hemlock Ave
Myrtle Beach, SC 29577
(843) 477-0808

Georgetown Campus

4003 South Fraser St
Georgetown, SC 295440
(843) 546-8406

Endowments

Charitable Remainder Annuity Trust

The Charitable Remainder Annuity Trust is funded and managed in much the same way as the Charitable Remainder Unitrust (CRUT- read details). It also provides the donor a charitable gift deduction for income tax purposes. Income to the beneficiaries is taxable to them in the same manner as in the case of a CRUT.

However, instead of providing a specified percentage of the trust assets to the beneficiaries by way of income, the annuity trust agreement stipulates a fixed dollar amount to be paid annually. This return must be paid in full each year and does not vary in amount even though income to the trust may fluctuate.

Similar estate and gift tax advantages apply as in other types of charitable trusts, and upon maturity of the trust, the remainder becomes available for use by HGTC. Additions may not be made to an annuity trust.