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Learn how to make Kosair Charities part of your planned giving.
Charitable Gift Annuity
A charitable gift annuity is an annuity contract and a charitable contribution. The donor transfers assets to Kosair Charities. In return, Kosair Charities agrees to make regular, fixed payments to you for the rest of your life. The amount of income you receive is based on the amount of the gift and your age. The life income is guaranteed by the total assets of Kosair Charities and is not limited to the extent of the original assets transferred for the annuity.
Click for an example of the charitable gift annuity.
Deferred Gift Annuity
The deferred charitable gift annuity, an excellent retirement program, makes it possible for you to get an immediate income tax deduction, yet defer the annuity payments of income for a term of years. When payments begin, they will be at a much higher level than for an annuity that is not deferred. This plan can have the advantages of a tax shelter, because you can receive your deduction in a high-income year and defer income until a later year when your income and tax bracket may be lower.
Click for an example of the deferred gift annuity.
Tax Benefits
- Immediate tax deduction.
- Possible estate tax savings.
- Charitable deduction produces income tax savings.
Advantages
- Provides fixed, guaranteed income for life.
- Income can be immediate or deferred.
- Removes assets from estate for probate and estate tax purposes.
- Relief from asset management.
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