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, 712. 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
Bette Rolley, assistant director of planned giving, RIT, 116 Lomb
Memorial Drive, Rochester, NY 14623, (716) 475-6566.