As we navigate these unchartered waters together, we reflect on the people and places we hold most dear and hold onto hopes for a bright future. We have some news we would like to share that can help you focus on your future—and ours. The Annie Clarkson Society wants to share this news from the ACGA with you.
As part of a continuous monitoring process, the American Council on Gift Annuities (ACGA) Board of Directors held a meeting on May 7, 2020 and reviewed the current assumptions inherent in our suggested maximum gift annuity rate schedules. The Board approved a decrease in the suggested maximum payout rates for charitable gift annuities. In general, the suggested maximum payout rates will be lowered by 0.3 to 0.5 percentage points, based on the annuitant(s) age(s) (e.g., payout reduction of $30 to $50 on a $10,000 donation). The new ACGA suggested maximum charitable gift annuity rates will become effective on July 1, 2020. The ACGA will publish the new suggested maximum gift annuity rate schedules for both one life and two lives in the coming weeks.
Gift annuities don’t just increase your retirement income as you help shape Clarkson’s future. They also offer you numerous tax benefits, including:
- A partial income tax charitable deduction now for your gift, if you itemize
- Income-tax-free portions of each payment throughout your estimated life expectancy
- Capital gains tax savings on appreciated property you donate
You are our future. Contact the Annie Clarkson Society to discuss how a charitable gift annuity allows you to make a gift and provides you, or another person if you choose, with secure, tax-favored payments for life. With your help, we can continue to make an impact at Clarkson University.
Email anniesociety@clarkson.edu or call 1-877-928-4438 for more information.