How Gift Annuities Support our Mission

July 24, 2017

A Charitable Gift Annuity is a contract between a donor and Longyear.

How it works:

You give a gift of cash or stock worth $5,000 or more. Longyear pays you a fixed income each year for the balance of your lifetime. Longyear applies the Charitable Gift Annuity rates recommended by the American Council on Gift Annuities. When the contract ends, Longyear receives the remaining value of the contract; contract terms are in accordance with IRS guidelines for returns to donors and to the charitable organization.

Benefits to the donor:

  • Charitable tax deduction at the time of the gift
  • Tax benefits include a charitable deduction, annual tax-free income, and possible capital gain tax treatment for some of the annual payout, depending on how the gift was made.


Deferred payment charitable gift annuity:

With a deferred payment gift annuity you can make your gift now and specify that your payments start at a future date, such as upon retirement. You will still receive some of the tax benefits of the Charitable Gift Annuity noted above.

Please email development@longyear.org, or call 800.277.8943, ext. 250, for more information.

 

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