Charitable Gift Annuity
A gift annuity is an agreement between you and us. When a
charitable gift annuity is in place, we agree to pay you fixed
payments for your life (and/or the life of your chosen
beneficiary). The amount of the annuity is based on the gift amount
and the age of the annuitant(s) at the time of the
gift.
A gift annuity provides a number of very attractive
benefits:
- A gift annuity can be established with a modest
contribution.
- You can fund it with cash or marketable securities.
- You can receive an immediate income tax charitable deduction
for the gift (subject to AGI limitations), and
- Potentially spread out any capital gains tax
liability.
What's more, part of your annuity payment will be federal income
tax-free for a certain number of years. As a donor, you can select
the payment intervals (usually quarterly) and name the annuitant(s)
- one or two persons.
Professionals and other highly compensated employees who
frequently "max out" their annual retirement plan contributions
because of restrictive rules and regulations may want to consider a
deferred gift annuity strategy. Deferred gift annuities offer three
important benefits:
- They can be used to supplement qualified retirement plan
savings.
- You receive a current income tax deduction now during your high
income years.
- You can postpone the start of annuity payments until
later-usually after retirement begins.
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