The Charitable Gift Annuity
A Charitable Gift Annuity is a very easy to accomplish gift that pays lifelong income to one or two annuitants. The gift agreement is a simple contract between the donor and WXXI that is regulated by the State of New York Department of Insurance and is backed by WXXI’s assets. Unlike a charitable remainder trust, which must be written by an attorney, the charitable gift annuity agreement is an easy to understand one page standard document. The minimum gift is low and there is no cost to the donor to create a charitable gift annuity.
We hope you will ask for more information on the how this gift can help you accomplish your objectives of supporting WXXI, reducing taxes and improving your dependable income stream. It is very easy to provide a personalized illustration.
• In exchange for your irrevocable gift of cash or marketable securities, we will pay you, and one other annuitant if you wish, lifetime income at a fixed rate.
• The minimum gift is $10,000 and you may make additional gifts at any time.
• You will receive quarterly income payments.
• You will receive an income-tax deduction for a portion of your gift.
• The taxation of your income may occur on three levels:
• Ordinary income
• Tax-free return of principal for the life expectancy of the annuitant(s)
• Capital gain recognized over the life expectancy of the annuitant(s)
•The agreement is a simple, easy to understand one page contract.
|
Sample Annuity Rates
for a
One-life Gift Annuity
| Age |
|
Rate |
| 65 |
|
6.7% |
| 70 |
|
7.2% |
| 75 |
|
7.9% |
| 80 |
|
8.9% |
| 85 |
|
10.4% |
| 90+ |
|
12% |
Please contact us for an example based on the annuitants age(s).
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