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There is a way for you to support New York City Ballet and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity.
With a charitable gift annuity you agree to make a gift to NYCB and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life. The balance is used to support our work. You can also qualify for a variety of tax benefits, including a federal income tax charitable deduction if you itemize. NYCB asks that you be at least 75 years of age and donate a minimum of $25,000 in cash or appreciated marketable securities to establish a current charitable gift annuity. (If you are younger than 75, you may want to consider a deferred charitable gift annuity and secure a higher return.)
Learn more about the many benefits of a charitable gift annuity in our FREE guide Charitable Gift Annuities: Gifts That Give Back.
Dennis, 75, and Mary, 73, want to make a contribution to NYCB but they also want to ensure that they have dependable income during their retirement years. They fund a $25,000 charitable gift annuity with appreciated stock that they originally purchased for $10,000.
Based on their ages, they will receive a payment rate of 5.1%, which means that they will receive $1,275 each year for the remainder of their lives. They’re also eligible for a federal income tax charitable deduction of $10,217* when they itemize.
*Based on a 3.6% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
Input a few details and see how a charitable gift annuity can benefit you.
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