CHARITABLE GIFTS ANNUITIES
A Charitable Gift Annuity is an irrevocable arrangement in which a donor makes a substantial gift to a non-profit organization, and the non-profit pays a guaranteed lifetime income to the donor.
It’s a smart way to reduce income tax because it’s tax-deductible in the year in which it’s established. And a portion of the annual income received by the donor may also be tax-free.
In most cases, donations of artwork, real estate, or other assets through a Charitable Gift Annuity usually avoid Federal estate taxes.
In order to begin receiving payments, the donor must be at least 55 years of age, but a Deferred Payment Charitable Gift Annuity can be created at any time.
If you would like to learn more about establishing a Charitable Gift Annuity with the Bardavon, please contact AnnMarie Faust, Managing Director of Administration, Development & Finance at 845.473.5288 ext.103.
© 2013 Bardavon/UPAC
Last modified: 2013-02-01 16:07:49