The Seattle Lighthouse for the Blind Foundation, in partnership with the Greater Tacoma Community Foundation, offers Charitable Gift Annuity arrangements starting at $25,000. With a gift annuity, the donor gives cash or other assets to the Seattle Lighthouse for the Blind Foundation via The Greater Tacoma Community Foundation and, in exchange, receives fixed payments in quarterly installments. The size of the payments depends on the size of the contribution and the age of spouse or someone else such as a parent, sibling or friend.
- Charitable Gift Annuities provide fixed income for life. Gift annuities are ideal for providing supplemental retirement income for life. They are unaffected by interest rates or fluctuating stock prices.
- Charitable Gift Annuities have no contribution limit. Unlike qualified retirement plans, gift annuities have no contribution limit and the donor receives income and capital gains tax benefits.
- Charitable Gift Annuities can be paid to one or two donors. Annuities ensure continuous income payments to a surviving spouse without probate hearings.
- Charitable Gift Annuities are tax-advantaged. The donor receives an income tax deduction. The donor may deduct up to 50 percent of adjusted gross income for cash gifts, and up to 30 percent of adjusted gross income for gifts of other assets, in the first year; the excess may be carried forward for up to five additional years.
- Annual payments are tax-advantaged. The annual payments are taxed favorably and a portion of payments from cash gifts will be tax-free for a term of years. If a gift is made using appreciated property such as securities or real estate, the donor avoids tax on a portion of the capital gain.
To discuss whether or not a Charitable Gift Annuity is right for you please contact Kate Wiegel, Director of Institutional Relations at (206) 436-2116 or contact The Greater Tacoma Community Foundation directly at (253) 383-5622.