Life Income Plans
Charitable Gift Annuities
When you select charitable annuity returns as a strategy for your fixed income planning, you help guarantee Bushnell performances for generations to come. The asset that funds your annuity ultimately is a gift to The Bushnell. It's a smart choice that can help you meet both your financial and philanthropic goals.
A gift annuity to The Bushnell is an agreement between a donor and The Bushnell in which the donor transfers an asset to The Bushnell in exchange for fixed cash payments throughout the donor's lifetime. Of note:
- annuities are typically funded with cash or publicly traded stock; gifts of appreciated securities may be particularly useful for tax purposes
- Bushnell gift annuities begin at $10,000, and often are funded with larger amounts
- the annuity may cover one or two annuitants
- the consideration and acceptance of deferred gift annuities will be on a case by case basis
- an income tax deduction is available in the year the gift agreement is written. Or, a deduction may be "carried forward" over five years
- rate recommended by the American Council on Gift Annuities will be used as guidelines in setting payment schedules (an example is outlined below)
For example, ACGA recommended rates for a single Life Gift Annuity for the period July 1, 2006, through June 30, 2007 include:
Age 60 65 70 75 80
Rate 5.7% 6.0% 6.5% 7.1% 8.0%
Gift Calculation Service
You may use this calculator to see an illustration of the income and tax benefits to which you may be entitled when you make a planned gift to The Bushnell.
GIFT CALCULATOR
Charitable Remainder Trusts
With a charitable remainder trust, your gift to The Bushnell allows you and/or your beneficiary to receive income for an established term of years. Where there is a desire for both income and tax savings, a charitable remainder trust may be just the right gift for you.
In a charitable remainder trust agreement, your assets are transferred to an independent trustee for a term of years and managed as an individual fund. You and/or your beneficiary receive income from the fund for the term of the trust. At the completion of the term, the trust's remaining assets are transferred to The Bushnell. Of note:
- trusts may be funded with a variety of assets, including cash, securities, or real estate
- income for life or for a term of years may be paid to one or two beneficiaries
- a charitable remainder unitrust provides variable income based on a fixed percentage of the trust assets as they are revalued annually
- a charitable remainder annuity trust provides fixed income based on a percentage of the initial market value of the trust
- you are eligible to receive an income tax deduction for a portion of your gift in the year the trust is established. Depending on the asset used to fund your gift, you may also realize capital gains and estate tax savings.
Should you desire an illustration outlining the tax and income benefits to you of a charitable gift annuity or charitable trust, please provide us, confidentially, with the following information:
- your name, address, daytime telephone number and e-mail address(optional)
- your date of birth, and the birth date of the second beneficiary, if any
- the gift amount on which you would like your illustration based
- whether the illustration should be based on a gift of cash or a gift of appreciated securities. If securities, please provide the name and (approximate) cost basis of the stock.
For more information about any planned gift option or The Bushnell Legacy Society, please contact:
Ellen Nattila, Senior Major and Planned Gifts Officer
The Bushnell Center for the Performing Arts
166 Capitol Avenue
Hartford, CT 06106
Tel: (860)987-6071 Fax: (860)987-6002
E-mail: ellen_nattila@bushnell.org
The Bushnell strongly encourages you to discuss this, and any, planned giving option with your attorney and/or financial advisor to confirm that it meets your financial and philanthropic objectives. Please note that your inquiry, and the information provided, will be held in the strictest confidence and does not obligate you to complete a gift to The Bushnell.