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Vol. 2 Issue 2

CHARITABLE GIFT ANNUITY

It almost sounds too good to be true!  There is a way to benefit ASHRAE while guaranteeing an income for the duration of your life and your spouse’s life—all with direct tax benefits and for as little as $10,000.

 

A gift annuity is a very common and simple way for people who have the desire to give, but still have the need to retain income. With a charitable gift annuity, ASHRAE Foundation and the donor enter into an agreement under which ASHRAE Foundation agrees to pay the donor or other beneficiaries a fixed payment for life in exchange for a gift of cash, marketable securities or approved real estate. The annuity rate is based on the age of the donor or other beneficiaries. The minimum gift for a charitable gift annuity is $10,000.


Charitable gift annuities are issued through ASHRAE.

TAXATION: 

  • Portion of the annuity payment initially is tax-free.
  • Portion may be taxed as capital gain if funded with appreciated property.
  • Balance of the payment is taxed as ordinary income.

BENEFITS:

  • Fixed annual income for life.
  • Tax deduction based on the value of the assets and annuity rate.
  • Reduced capital gains tax.

 

If you are interested in learning more about gift annuities or if you would like our office to build a free illustration for you based on any giving level, contact Bert W. Huffman, Director of Development, at bhuffman@ashrae.org or 678-539-1150.

 

 

 

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