Charitable Gift Annuity
The AAFP Foundation has established a Charitable Gift Annuity program that provides an additional Planned Giving option to support future AAFP Foundation work.
In establishing a charitable gift annuity, you transfer money or property to a charitable organization in return for an annuity -- a series of annual payments for a specified period of time. An annuity pays a guaranteed fixed income for life to an individual, spouse or other designated beneficiary. A charitable gift annuity provides you with an immediate income tax deduction.
For Example
“Dr. Donor” is 65 years of age and contributes $25,000 in cash on
August 19th, 2010. The payment is 5.5% payable at the end of each quarter. “Dr. Donor” receives a charitable deduction of $6,495.11. The annual payment totals $1,375, of which $948.75 is tax free and $426.25 is taxed as ordinary income. Upon his death, “Dr. Donor” has provided a significant financial gift from the remaining principal to carry on the philanthropic work he believed was important.
August 19th, 2010. The payment is 5.5% payable at the end of each quarter. “Dr. Donor” receives a charitable deduction of $6,495.11. The annual payment totals $1,375, of which $948.75 is tax free and $426.25 is taxed as ordinary income. Upon his death, “Dr. Donor” has provided a significant financial gift from the remaining principal to carry on the philanthropic work he believed was important.
If you are interested in establishing a charitable gift annuity, you will need to consult with your attorney, accountant or other professional for advice on estate and tax planning.
Please contact Brenda Cherpitel at 800-274-2237, Ext. 4452 for more information regarding the AAFP Foundation new Charitable Gift Annuity and other Planned Giving opportunities.
Please contact Brenda Cherpitel at 800-274-2237, Ext. 4452 for more information regarding the AAFP Foundation new Charitable Gift Annuity and other Planned Giving opportunities.
WHY DONATE TO THE AAFP FOUNDATION?
Supporting your Foundation means you believe in the power of family medicine and in the importance of helping others.
"Your support of the AAFP Foundation has a tremendous effect…the Foundation funds Academy programs such as Tar Wars that directly impact kids and the public health.”
Jeffrey J. Cain, MD, FAAFP
