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There's a way for you to support the American Museum of Natural History and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity.
With a charitable gift annuity you agree to make a gift to the Museum and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life. The balance is used to support our work.
This type of donation can provide you with regular payments for life and allow the Museum to further our mission. You can also qualify for a variety of tax benefits depending on how you fund your gift.
If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize. In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.
And now, you can fund your gift using your. You can make a one-time election of up to $53,000 to fund a gift annuity starting at age 70½. While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer. If you are 73 and older, your gift can count toward all or part of your required minimum distribution (RMD), which may offer greater tax advantages in some situations, particularly if you take the standard deduction.
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Deferred Gift Annuities: Plan Now, Benefit Later.
Mary, 79, wants to make a contribution to the Museum but she also wants to ensure that she has dependable income during her retirement years. She funds a $25,000 charitable gift annuity with appreciated stock that she originally purchased for $10,000.
Based on her age, she will receive a payment rate of 7.8%, which means that she will receive $1,950 each year for the remainder of her life. She is also eligible for a federal income tax charitable deduction of $11,230* when she itemizes. Finally, she knows that after her lifetime, the remaining amount will be used to support our mission.
*Based on a 5.2% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
Input a few details and see how a charitable gift annuity can benefit you.
Legal name: American Museum of Natural History
Address: 200 Central Park West, New York, NY 10024
Federal tax ID number: 13-6162659
Learn more about the many benefits of a charitable gift annuity in our FREE guide Charitable Gift Annuities: Gifts That Give Back.