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A gift annuity is a simple, contractual
agreement between a donor and Saint Clare’s Foundation in which
you transfer assets of cash, stocks, bonds or mutual funds in exchange
for fixed payments while making a gift. The general resources of
Saint Clare’s Foundation back all payments, which can cover
a maximum of two lives.
The tax advantages include an immediate
income tax charitable deduction in the year the gift is made. Also,
the payments may be partly income tax-free return of principal, or
taxed at the lower capital gains rates.
In all cases, donors are advised
to consult with their tax advisor to determine specific tax savings
and/or the planned giving opportunity which best fits their particular
need.
For more information about charitable gift annuities, please call: (973) 983-5300.
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