Charitable Gift Annuity
By establishing a Charitable Gift Annuity, your client will receive guaranteed income for life, benefit from an immediate income tax deduction, and leave a legacy that will support the causes important to them. Payments are based on age. Your client can receive an income tax deduction now and defer receiving the annuity payments until a future date. Later, the remainder interest can be used to establish a charitable fund or be added to an existing fund. The tax advantages of both a current and deferred annuity are two-fold. First, your client receives an immediate charitable income tax deduction when creating the annuity. Second, a portion of the payments received may be treated either as tax-free return of principal or long-term capital gains.
Charitable Remainder Trust
This flexible option allows payments to be made to your client or another beneficiary for life or for a specified number of years. Income beneficiaries annually receive an amount equal to either a fixed percentage or dollar amount of the trust’s fair market value. A charitable remainder trust may be set up during your client’s lifetime or through their will. The eventual distribution to the Foundation will only take effect upon the death of the trust’s income beneficiaries, or at the end of the specified number of years. At this time, the remainder of the trust transfers to the Foundation to support your client’s charitable giving goals.