Life Income Gifts
Life income gifts such as a charitable gift annuity and a charitable
remainder trust provide a donor with income for life, while allowing the
donor to make a significant gift to the Foundation after their death or
the death of their spouse. Depending on the donor's investments, these
gift methods may provide a higher rate of return than the donor is
currently receiving. Life income gifts may also provide income, capital
gains and estate tax benefits to the donor as specified by law.
Charitable Gift Annuities
Charitable Gift Annuities Offer
- Increased income for life
- A substantial charitable tax deduction
- Annual payments that are partially tax free
- The satisfaction of knowing that you will leave a legacy of education
Charitable gift annuities provide a guaranteed income to the donor
for life, based on the donor's age at the time of the gift. For
instance, the current payout for a donor, age 75, creating a gift
annuity would be 7.9 percent, a much higher rate than provided by many
other sources of income.
Charitable gift annuities have several appealing benefits. The donor
receives a guaranteed income for life, with a portion of that income
non-taxable; a significant portion of the gift is a charitable gift tax
deduction; and, if the gift is made with appreciated securities, the
donor avoids capital gains taxes.
Charitable Gift Annuities Rate of Return
Charitable gift annuities offer a way for you to support SUNY Plattsburgh while receiving tax benefits and life income at a consistent rate of return. Under the terms of a gift annuity, you donate assets that are held for future use by the college. For the rest of your life or that of a spouse or loved one you choose, you receive generous fixed payments on an annual or more frequent basis, and after your lifetime, the gift portion of your gift annuity becomes available to SUNY Plattsburgh for the purpose you designate.
Rates for Individuals
|| Return Rate
Rates for Couples
|| Return Rate
Charitable Remainder Trusts
Charitable remainder trusts also provide lifetime income and
charitable tax deductions to the donor. However, using this method, the
donor, in consultation with the college, chooses the rate of income,
usually between five and seven percent. The amount of the charitable
income tax deduction is inversely proportional to the amount of income
calculated to be paid to the donor over their lifetime. There are two
types of charitable remainder trusts:
- Charitable Remainder Annuity Trust pays a fixed dollar amount annually. This works well if you want reliable income.
- Charitable Remainder Unitrust pays you a variable amount equal to a
stated percentage of the net fair market value of the trust assets as
recalculated yearly. Depending on the investment performance of the
unitrust, this option may provide a possible hedge against inflation.