Gifts providing donor with income
Gifts which provide income
1. Charitable Gift Annuity
A charitable gift annuity pays the donor and/or other named beneficiaries a fixed income each year for life. The amount of this income depends on the age of the annuitant (at least age 60) at the time the annuity is established. The older the annuitant, the greater the amount of income. The minimum gift amount to establish a charitable gift annuity is $10,000 in cash or securities.
2. Charitable Remainder Trust
A charitable remainder trust enables donors to transfer cash, securities, real estate, or other assets to Lasell while retaining the right to name one or more persons, including the donor, to receive a generous income for a period of time-usually for life. There are two basic types of charitable trusts: the annuity trust, which pays a fixed dollar amount of income each year, and the unitrust, which pays out a fixed percentage of the trust's assets each year. The minimum gift amount to establish a charitable remainder trust is $100,000.
3. Deferred Gift Annuity
A deferred gift annuity works similarly to and has the same requirements as a charitable gift annuity. However, payments begin at a future date chosen by the donor.
4. Charitable Lead Trust
A charitable lead trust provides immediate support to Lasell while also reducing or eliminating the tax cost of transferring wealth to children or grandchildren. Basic lead trust options include a grantor trust in which the donor keeps a "reversionary" interest in the trust, i.e., he or she will get back all or part of the principal when the trust ends, and a non-grantor trust in which the donor gives up all rights to the trust and principal is distributed to others (usually children or grandchildren) at the end of the trust term. The minimum gift amount to establish a charitable lead trust is $250,000 in cash.
For more information, please contact:
Kathy Urner-Jones, Senior Advancement Officer
1844 Commonwealth Ave.
Newton, MA 02466