Creating a Gift Annuity is a method you can utilize to develop a significant legacy for the future, while receiving a stable lifetime income stream, with an immediate tax savings.
If you are 70 years or older and still require income from your assets, you can incorporate a charitable gift annuity as part of your estate plan. A charitable gift annuity allows you to give a gift, save tax, and increase your income.
Here's how it works:
- You make an irrevocable contribution of $10,000 or more for a gift, plus annuity
- A portion of the funds, as determined by you (minimum 25%), becomes an immediate gift to Tafelmusik
- The remaining funds are used by Tafelmusik to purchase an annuity from an insurance company, which will meet the gift annuity income obligation to you
- The annuity income depends on your age and the size of your contribution
The benefits of Creating a Charitable Gift Annuity:
- Increased Income - The income from the annuity may be higher than a fixed income investment
- No management required - The annuity requires no management on your part. You do not have to watch investments, interest rates, maturity dates and so forth. Your payments are sent to you automatically and regularly
- Guaranteed income for life - The annuity is guaranteed; it will continue as long as you live, no matter what happens to the economy or interest rates
- Spouses can benefit - You may choose a joint-and-survivorship annuity that continues as long as either spouse lives
- Donation receipt - You will receive a donation receipt for the amount of the gift portion to Tafelmusik, which will result in a tax credit
Tafelmusik Legacy Society
Patrons contributing a Gift Annuity (or any other legacy gift) become partners with us in building a foundation for the future of Tafelmusik, and we invite you to become a member of our Legacy Society. Details
For more information on charitable gift annuities, please contact the Development Office: