Life income gifts need not require gifts of
extraordinarily large amounts. You can make a gift through a charitable
gift annuity agreement for as little as $10,000. Here’s how it
works:
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You transfer cash or other assets to the Surfrider Foundation to fund a gift
annuity agreement.
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You’ll receive a fixed payment each year. The amount of your
payment is a percentage of your gift, determined by your age when the gift
agreement is arranged.
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You benefit from an immediate tax deduction. And part of each annual
payment you receive may be tax free for a number of years.
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You can also choose to name a second individual to receive payments with you
for his or her lifetime. In a joint-life gift annuity, the payments and
deductions are less since the annuity is spread over two lives.
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Whatever asset value remains from the original gift at the death of the
annuitant(s) is the gift to the Surfrider Foundation.
Example: Moondoggie, age 80, gives $10,000 cash to establish a gift
annuity with the Surfrider Foundation. The payment rate at age 80 is 8.0%
(Check with us for current rates and estimated tax savings before you
give.) He will receive annuity income each year for life and a tax
deduction in the year he gives.
Amount transferred to the Surfrider Foundation = $10,000
Annuity Rate = 8.0%
Annual payment to Moondoggie for life = $800
Immediate income tax deduction = $4855
Many donors find it convenient to arrange a new gift annuity agreement each
year. Since payment rates for older donors are higher than for younger
ones, each new gift annuity generally brings larger annual payments.
To learn more contact Steve Blank, Surfrider Foundation's Director of
Development, at 800-743-SURF x. 40 or info@surfrider.org.
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