Charitable Gift Annuities
How it works
- You transfer cash, securities, or other property to The Cooper Union.
- You receive an income tax deduction and may save capital gains tax. The Cooper Union pays a fixed amount each year to you or to anyone you name, for life. Typically, a portion of these payments is tax-free.
- When the gift annuity ends, its remaining principal goes to The Cooper Union.
A Charitable Gift Annuity (CGA) is a simple agreement between you and The Cooper Union. You can establish a Charitable Gift Annuity with a minimum gift of $10,000. The annuitant must be at least 65 years of age when annuity payments begin.
Your Benefits may include:
- Fixed annual payment at a favorable rate of return, for yourself and/or another person you choose, for life
- Possible increased income if your gift is funded with low-yielding assets
- Portion of your payments to be tax free
- Charitable income tax deduction
- Favorable capital gains tax treatment when you fund your gift with appreciated securities
- Membership in The Society of 1859
Sample Charitable Gift Annuity Rates*
Immediate payments (One Life)
*Special rates apply for two-life annuities and for deferred payment gift annuities.
Deferred Charitable Gift Annuity
If you do not need increased income now, you may want to create a Deferred Charitable Gift Annuity and receive annuity payments at a later date chosen by you. The amount of the annuity payments will be higher than they would have been if you had chosen to begin receiving payments immediately. The Deferred Gift Annuity arrangement allows you to take an income tax deduction now and generate additional payments later.
To learn more about how a Charitable Gift Annuity could work in your particular case, try our Self-help Gift Calculator and contact Donna Lippman, Director of Planned Giving, at 212-353-4172 or firstname.lastname@example.org.
The information contained herein is not intended as legal or tax advice. We recommend that you consult with your attorney or financial advisor for questions concerning your individual situation.