April's
tax-filing 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, managing director of development, RIT, 116 Lomb
Memorial Drive, Rochester, NY 14623, 716-475-2627.
