Ohr-O'Keefe in Biloxi announces new gift annuity program

BILOXI -- The Ohr-O'Keefe Museum of Art this month will dedicate a room to Catherine Campbell in a ceremony that represents a milestone in the museum's new gift-annuity program.

Campbell, a Biloxi resident, is not only having an Ohr-O'Keefe room named in her honor, but she's also realizing a higher annual return on her retirement savings.

It's part of the museum's new gift-annuity program, where donors can realize benefits worth thousands of dollars for life, pass the benefit on to a descendant and realize tax benefits, Executive Director Kevin O'Brien said.

"This is a great program where donors have a great way to support the museum and earn guaranteed benefits," O'Brien said. "There are thousands of individuals out there who are suffering with low interest rates, and this program is the answer in so many ways."

A charitable-gift annuity is a contract between the investor and the museum that will pay guaranteed annual income to one or two persons for life. The older the donor is, the higher the annuity payout rate. Those who establish charitable-gift annuities also may be able to claim a portion of the gift as a charitable contribution, as well as receive a portion as tax-free income and possibly favorable tax treatment.

"This is a guaranteed return," O'Brien said. "It's safe and it's open to anyone looking to make more money on their money. This program is regulated and guaranteed, and we're glad to allow people to take advantage of this windfall."

For details on the program, contact O'Brien at 374-5547 or kobrien@georgeohr.org.

This story was originally published March 8, 2016 at 4:31 PM with the headline "Ohr-O'Keefe in Biloxi announces new gift annuity program ."