Charitable Gift Annuity ProgramGift Planning | Charitable Gift Annuity Program | Charitable Lead Trusts | Charitable Remainder Trusts | College Annuities | Life Insurance | Living Trusts | Real Estate | Remainder Interest in Home or Farm | Retirement Accounts | Wills
In exchange for a gift of cash, Nevada will agree to pay you a fixed annual annuity. The rate of the annuity is based in part on the age of the annuitant. A portion of the annuity payment will be tax-free for the duration of your life and you will receive an income tax deduction for part of the gift.
For example, if a person, age 70, transferred $100,000 to Nevada in exchange for a 5.7% annuity, he or she would receive fixed payments of $5,700 each year for life. $4,126.80 of each year's payments would be tax-free for a period of years (in this case, 15.5 years) after which such payments would be taxed as ordinary income. In the year of the gift, a charitable tax deduction of $36,013 could be taken.
Note - This example is offered for illustrative purposes only. Gift annuity rates are subject to change and the charitable tax deduction will vary based on the timing of the gift and the current IRS discount rate.
Also, an annuity funded with a gift of long-term appreciated securities has capital gains tax advantages. You avoid capital gains tax on the part of the property that is considered a gift and the rest of the capital gain is spread over a number of years.
For more information, please contact:
Lisa Riley, Director of Planned Giving
University of Nevada, Reno / Mail Stop 0007
Reno, NV 89557-0007