Charitable Gift Annuity
Gifts That Pay You Income
There's a way for you to support the American Institute for Cancer Research and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity.
This type of donation can provide you with regular payments and allow AICR to further our work as the cancer prevention experts. You can also qualify for a variety of tax benefits depending on how you fund your gift.
If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize. In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.
And now, you can fund your gift using your IRA assets. If you are 70½ and older, you can make a one-time election of up to $53,000 to fund a gift annuity. While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer and count toward all or part of your required minimum distributions.
An Example of How It Works
Dennis, 66, and Mary, 65, want to make a contribution to AICR but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 gift that pays income.
Based on their ages, they will receive a payment rate of 5.1%, which means that they will receive $1,020 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $6,402* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to continue our work to raise awareness about cancer prevention.
*Based on a 5.2% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances. Please click on the Calculate My Benefits tool below to see real-time calculations.
Learn How to Fund It
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See How It Works
Payments for Life
Learn more about the many benefits of a charitable gift annuity in our FREE guide Charitable Gift Annuities: Gifts That Give Back.
View My GuideGifts That Pay
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Deferred Gift Annuities: Plan Now, Benefit Later.