 |
|
|
|
|
For Retired People 65 and Over
You may receive generous fixed payments for life under the terms of a Charitable Gift Annuity. The payments will never change and will continue for your lifetime. The Charitable Gift Annuity may be purchased for one or two other people; the people need not be married, nor related. Upon your death, the remainder will pass to the Archdiocese.
You are entitled to an income tax deduction in the year of the gift. In addition, for a period time, a portion of each payment may be free of income tax or taxed at capital gains rate. And, the amount used to fund the gift annuity may be free from gift and estate taxes.
Benefits on a $10,000 Single-Life Charitable Gift Annuity
|
Age |
Annuity Rate |
|
60 |
5.5% |
|
65 |
5.7% |
|
70 |
6.1% |
|
75 |
6.7% |
|
80 |
7.6% |
|
85 |
8.9% |
|
90 |
10.5% |
These calculations are estimates of gift benefits; your actual benefits may vary. Rates are effective as of July 1, 2008 and have been approved by the American Council on Gift Annuities
6.5% Charitable Gift Annuity
Benefits
Immediate
Income tax deducation of $3,866. May save up to $1353.
Annual
Annual Income of $650 for life. $386 tax-free. Projected total after-tax income of $8,907 over 16 years.
Future
Archdiocese of New York projected to have $14,549 in 16 years. Reduced estate taxes and costs.
For more information on gifts that benefit your heirs as well as the causes in which you most believe, call 212-371-1011 ext. 3317. Or e-mail gift.planning@archny.org
|
|
|
|
