Charitable Gift Annuity Example
Edmund Edwards, 78, contributes $10,000 cash to Medical Teams International and receives payments totaling $670 each year for life, of which $484 is tax-free for the first 10 years. He also receives an income tax deduction of $4,865 in the year he makes his gift.
Whatever portion of his contribution remains at the end of his lifetime will be used by Medical Teams International to provide much needed medical care and training for disadvantaged people around the world.
Note: The tax calculations assume a 3.4% federal discount rate and payments made monthly at the end of the month.
If you have questions, please contact Linda Ranz at 425.284.1941 or lranz@medicalteams.org.
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seek the counsel of your own professional adviser as you determine how to proceed. | |