Gift Annuities

Some Things Just Get Better With Age, And A Gift Annuity Is One Of Them!

 

Age

60-61

65

68

70

72

74

76

78

80

82

84

86

88

90+

Rate

4.4%

4.7%

4.9%

5.1%

5.4%

5.7%

6.0%

6.4%

6.8%

7.2%

7.6%

8.0%

8.4%

9.0%

Gift annuities can provide great rewards. You can receive a fixed income for life, while also leaving a lasting donation to Sitrin. The income can be quite high depending upon your age, and a portion of your income may even be tax–free. Best of all, you will receive a charitable deduction for the value of your future gift to Sitrin, in addition to the satisfaction of contributing to its future growth.

To create a gift annuity with Sitrin, you can transfer an asset to us. Sitrin then agrees to make income payments to you during your lifetime. The annuity rate is based upon your age. The older you are, the higher the rate. For example, a 76–year–old would receive a 6.0 percent annuity, while an 84–year–old would receive a 9.2 percent annuity. The chart (right) provides additional examples.*

The gift annuity can be funded in a number of ways including transferring appreciated stocks to Sitrin. In addition to providing an immediate charitable income tax deduction, it is possible to bypass a portion of the capital gains tax as well. For example, stock valued at $100,000 with an original cost of $20,000 transferred to a gift annuity will save the donor significant taxation on the $80,000 of gain.

In June 2006, the Charles T. Sitrin Network of Homes & Services, Inc. (“Network”) was approved by the New York State Insurance Department to issue charitable gift annuities.

The Network’s gift annuity disclosure statement, charitable gift annuity policy, gift annuity application form, gift annuity rates, and gift annuity contracts are available upon request. For more information, contact the Sitrin Foundation.

*Rates Effective January 1, 2012; Published by American Council on Gift Annuities.

 

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