Charitable Gift Annuity
A charitable gift annuity is a gift made to our organization that can provide you with a secure source of fixed payments for life.
Benefits of a charitable gift annuity
- Receive fixed payments to you or another annuitant you designate for life
- Receive a charitable income tax deduction for the charitable gift portion of the annuity
- Benefit from payments that may be partially tax-free
- Further the charitable work of The Community Foundation of Herkimer & Oneida Counties
How it works
- You transfer cash or property to the Community Foundation
- In exchange, we promise to pay fixed payments to you for life—the payment can be quite high depending on your age, and a portion of each payment may even be tax-free
- In addition, you will also receive a charitable income tax deduction for the gift portion of the annuity
If you decide to fund your gift annuity with cash, a significant portion of the annuity payment will be tax-free. You may also make a gift of appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax. Please contact us to inquire about other assets that you might be able to use to fund a charitable gift annuity.