|
|
Charitable Gift Annuity |
Deferred Charitable Gift Annuity |
Charitable Remainder Unitrust |
Charitable Remainder Annuity Trust |
|
Minimum gift |
$1,000
($2,500 in CA) |
$1,000
($2,500 in CA) |
$100,000 |
$100,000 |
|
Minimum age |
35 |
35 |
35 |
35 |
|
Number of individual income beneficiaries |
1 or 2 |
1 or 2 |
Up to 8 |
Up to 8 |
|
It works best for income beneficiaries |
65 or older |
ages 35 to 65 |
45 or older |
65 or older |
|
Best kinds of gifts |
cash and appreciated securities |
cash and appreciated securities |
cash, appreciated securities, and real estate |
cash and appreciated securities |
|
Annuity/Payment rate |
Based on age of annuitant(s)
Fixed payments.
|
Based on length of deferral and age at which annuity payments begin. Fixed payments. |
Minimum 5%, determined by agreement between the donor and the ELCA Foundation. |
Minimum 5%, determined by agreement between the donor and the ELCA Foundation. |
|
Income tax deduction |
Based on size of gift, life expectancy of annuitant(s), annuity rate, monthly AFR rate from the IRS |
Based on size of gift, life expectancy of annuitant(s), annuity rate, monthly AFR rate from the IRS |
Based on size of gift, life expectancy of trust, unitrust percentage rate, monthly AFR rate from the IRS |
Based on size of gift, life expectancy of trust, unitrust percentage rate, monthly AFR rate from the IRS |
|
Advantages |
High annuity rates based on age. Some portion of annuity payment may be tax-free for life expectancy of annuitant(s). In general, with gifts of appreciated securities, a partial bypass of the capital gain with the remaining capital gain pro-rated over the life expectancy of annuitant(s). |
Annuity payment is larger than for an immediate charitable gift annuity. Annuity could begin when in lower income tax bracket. Some portion of annuity may be tax-free for life expectancy of annuitant(s). |
Unitrust rates, income, and investments can be individually structured to meet the goals of the donor and the income beneficiaries. Ability to include additional income beneficiaries (family) for term of years, in addition to lifetime income for donors. Additional gifts may be made to the trust at any time. |
Provides a fixed payment to the income beneficiaries. Payment not affected by fluctuation in investments. No capital gain tax on gifts of appreciated securities. |