Did you know that you could make a gift that would provide you with a steady income for the remainder of your life?
A charitable gift annuity is the perfect way to turn low-income producing stock or extra cash into a stable income. Simply stated, a charitable gift annuity is a contract between The Saint Paul Chamber Orchestra and the contributor. In return for a gift of cash or stock, the SPCO agrees to make fixed, semi-annual payments to the contributor for the remainder of their lifetime. The amount of the payment never fluctuates and is not dependent upon the SPCO’s investment of the gift. This is a wonderful way to make a significant gift to the SPCO while receiving a stable stream of income for the remainder of one’s life.
Here is how the charitable gift annuity works:
Mr. and Mrs. Schumann, ages 65 and 62, contribute $15,000 to establish a Charitable Gift Annuity.
- The SPCO receives a significant gift
- They receive an immediate tax deduction of $3,226
- The Schumanns will receive semi-annual payments totaling $735 per year for the rest of their lives.
(These calculations are for illustration purposes only.)
For more information on charitable gift annuities or to receive a sample projection at no obligation, please email Alysa Toov, Major Gifts Coordinator at firstname.lastname@example.org, or call her at 651.292.3275.