In return for a donation to American Friends of Meir Panim, you can receive a lifetime annuity – a fixed amount of income with a potential for favorable tax benefits. With a range of gift options that will be affected by the donor’s age and type of donation, our professionals can work with you to help create a charitable gift annuity that will beet your philanthropic goals.
- Payments begin at age 65 – annuitants 65 and older receive immediate income.
- Fixed, quarterly income for the donor’s lifetime.
- Portion of income may be received tax-free.
- Cash or other marketable securities can be used to fund the gift annuity.
How It Works
In return for a gift to American Friends of Meir Panim, a donor is paid a fixed amount of income on a regular basis, beginning at age 65. A portion of the gift qualifies for a current income-tax charitable deduction, thereby reducing taxes and the full value of the gift is removed from the donor’s estate. In addition, part of the annuity payment may be received as tax-free income.
Before age 65
For people younger than 65, these annuities can be purchased periodically to build a primary of supplementary tax-advantaged retirement plan
After age 65
If the Charitable Gift Annuity is purchased by a donor who has already reached age 65, the donor will start to receive annuity income immediately, based on the annuity rate applicable to the donor’s age on the date of the agreement.