Charitable Gift Annuity
How does it work?
- Make a gift to the museum of cash or securities—our minimum gift requirement is $20,000.
- The Museum immediately begins to pay you, and/or one other beneficiary (spouse, relative, etc.), fixed income for life.
- Rates are determined by the American Council on Gift Annuities, and vary by age
- The remaining balance passes to the Museum when the contract ends.
What are the benefits?
- Receive an immediate income-tax deduction for a portion of your gift.
- Receive stable, fixed income for life in return for your gift.
- A portion of this income will be tax-free.
- In most cases, you can actually increase the yield you are currently receiving from stocks, CDs, or savings accounts.
- You can avoid capital gains taxes if you donate appreciated securities to fund the annuity.
Who is this gift best suited for?
- Beneficiaries are recommended to be at least 65 at the time of the gift.
- Those already in retirement or receiving retirement funds.
- Those looking to diversify their investment portfolios with a stable, secure asset that also accomplished philanthropic goals.
- Those who want to begin receiving payments immediately and want the security of payment amounts that won't fluctuate.