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Gift Annuities are the oldest form of life-income gift, dating to the 19th century. A simple one-page contract prepared by the Foundation promises to pay you a fixed annuity for life. The payments are backed by the full faith and credit of the Foundation.
You receive an income tax deduction when the annuity is issued that equals the present value of the assets remaining in the future.
A portion of the annuity may be tax-free to you; capital gains are partly avoided and partly spread over the annuitant’s life expectancy. The Foundation uses the remainder to establish an endowed fund as instructed by you.
The Foundation also issues deferred Charitable Gift Annuities in which the annuity payments to the donor are delayed for a period of years. You receive a higher income tax deduction in exchange for the deferment, and the higher annuity rate offered reflects your age when payments begin.
Sample Current Gift Annuity Rates*:
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age annuity
established
one person
|
payment rate
|
age annuity established
two persons
|
payment rate
|
|
55
|
5.3%
|
55 & 57
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4.7%
|
|
65
|
5.7%
|
65 & 67
|
5.4%
|
|
75
|
6.7%
|
77 & 77
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6.2%
|
|
85
|
8.9%
|
85 & 87
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7.6%
|
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90+
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10.5%
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95 & 97
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10.3%
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Sample Deferred Gift Annuity Rates*:
|
age annuity
established
|
age payments
begin
|
payment
rate
|
|
55
|
62
|
7.7%
|
|
55
|
65
|
9.0%
|
|
60
|
62
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6.1%
|
|
60
|
65
|
7.1%
|
|
65
|
67
|
6.4%
|
|
65
|
70
|
7.6%
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*Rates effective 07/01/08, subject to change.
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