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 5.8 percent for 55-year-old donors,
up to 10 percent for those 84 and over. For example: Stella Jackson
donated $30,000 in July of 2001 in exchange for a gift annuity. Based
on her age - 77 - she received a rate of 8.2%, with an annual annuity
of $2,460. Because she donated cash, Ms. Jackson enjoys a portion of
the income - $1,505.52 - tax-free. She also received a charitable deduction
of $13,284.60. 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, N.Y., 14623, (585) 475-6566.