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Life Expectancy
What is a Charitable Gift?

Charitable Gift Annuities

An individual may make a "gift" or "donation" to a nonprofit or educational origination and in return receive an income for life and multiple tax deductions.

The Gift and Tax Deduction

An individual or couple may fund a charitable gift annuity with cash, marketable securities.

Cash
Cash donations to fund a charitable gift annuity entitles you claim a charitable income tax deduction in an amount of up to 50% of your adjusted gross income. If in the year you make the gift and the gift is greater than 50% of you income you may carry the balance forward for up to five years.

Securities
Securities used to fund a charitable gift annuity provide the donor with a unique advantage. If the securities have been held for more than one year the charitable income tax dedition is based on the market values of the securities. You may claim a charitable income tax deduction of up to 30% of your adjusted gross income. If in the year you make the gift and the gift is greater than 30% of your income you may carry the balance forward for up to five years.

The Income

Once the gift has been made you can elect to deferrer the income or chose to have it begin immediately.

Guaranteed Income
One advantage of a charitable gift annuity is that it creates a guaranteed income at a guaranteed rate of return. Most organizations use the table set by the American Council on Gift Annuities (ACGA) to determine the maximum rate which can be paid to you.

Non Taxable Income
Based on your life expectancy a part of each payment for a limited time period is not taxable, this is known as the exclusion allowance.





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