Charitable Gift AnnuityPost Date: March 20, 2017
A charitable gift annuity is a formal contract between you and Paralyzed Veterans of America. It states that if you transfer assets (cash and/or marketable securities) to us, we agree to make fixed payments to you (or another beneficiary you designate) for life. Upon your death (or the death of the beneficiary), the remaining assets become available to Paralyzed Veterans. It offers these benefits:
- Potential increased income, a portion of which may be tax-free
- You no longer have to worry about investment management and market fluctuations
- Immediate charitable contribution deduction or lower income tax liability
- Ability to avoid capital gains tax and reduce estate tax liability if any
The payout rate and charitable deduction for charitable gift annuities depends on the age of the donor and the number of beneficiaries. The older the donor is, the higher the payout rate is, and the higher the charitable deduction is for the year the gift is made.
If you’d like to speak with a member of our staff, please contact us at (800) 424-8200, ext. 600. We’re also happy to work with your attorney or financial planner.