A Charitable Gift Annuity can provide a fixed rate of return for the life of one or two beneficiaries (age 55 or older), after which the remaining balance will support the Law School according to your specified wishes.
The lifetime rate of the annuity is determined by the beneficiaries' ages when the gift is initially funded. The after-tax yield will exceed the face rate during the beneficiaries' life expectancy because a portion of each payment will be considered a tax-free return of principal. You receive a tax deduction in the year the gift is made and can realize capital gains tax benefits if you use appreciated assets to fund your gift annuity. A Columbia Charitable Gift Annuity can be funded with a gift of $25,000 or more in cash or marketable securities.
A second option for a gift annuity is the Deferred Columbia Gift Annuity. It is similar to the charitable gift annuity in every respect except that the annuity payments do not begin until a future date that you choose. The deferral results in a higher payout once payments begin and a larger income tax deduction in the year the annuity is established. The Deferred Columbia Gift Annuity is well-suited to a younger donor who seeks an immediate tax deduction rather than additional income. It is also useful as a source of retirement income.
Let our staff help you realize your philanthropic goals. For a specific illustration based on your situation, please contact Kristen Donelan at 212-854-5314 or email@example.com.
60 & 63+
65 & 61+
70 & 80+
75 & 89+
80 & 94+
85 & 94+
For example, in return for a transfer of $50,000, a 65-year-old will receive $2650 each year for life ($50,000 x 5.7 percent). This amount will never change.