the post tax-time blues?
Try an RIT Charitable Gift Annuity
deadline leaves many folks wishing for more more deductions.
Solution? An RIT Charitable Gift Annuity -- it offers donors
both a lifetime income and a charitable deduction.
In exchange for a
gift of cash or marketable securities, RIT will pay the donor
(and a loved one, if desired) a guaranteed lifetime income and
a generous charitable deduction as well. Annual income is based
on age and ranges from a rate of 7.5 percent for 70-year-old
donors, up to 10 percent for those 84 and over. For example:
Stella Jackson donates $30,000 in exchange for a gift annuity.
At 77 years of age, she receives a rate of 8.5 percent, with
an annual annuity of $2,550. Because she donated cash, Ms. Jackson
enjoys a portion of the income -- $1,466 -- tax free. She also
receives a charitable deduction of $13,711. Ms. Jackson has
directed that RIT use the proceeds for scholarship assistance
in her late husband's name.
For more information
about an RIT Charitable Gift Annuity, contact Scott Rasmussen,
executive director, major and planned gifts, RIT, 116 Lomb Memorial
Drive, Rochester, NY 14623, (716) 475-2627.