Charitable Gift Annuities

This is a method of irrevocably transferring $5,000 or more in cash and/or securities to the Tennessee Temple University Foundation, who in turn, guarantees to pay you a fixed amount of income on a regular basis for life. This allows you to claim a generous contribution deduction on your federal income tax return in the year of the gift. A large portion of your annual income from the gift annuity is tax-free. Considerable savings in both estate taxes and probate costs are also provided.

Example Gift Annuity Rates
One Person's Age
Gift Annuity Rate
60
5.7%
70
6.5%
80
8.0%
90
11.3%
Two People's Ages
Gift Annuity Rate
70 and 70
5.9%
80 and 80
6.9%
90 and 90
9.3%
 
Example: Bob Johnson is 75 years old. He purchases a $10,000 gift annuity with Tennessee Temple University Foundation. He will receive an immediate income tax deduction of $4,433 that he will be able to deduct from this year's income tax. He will receive $710 a year, for the remainder of his life, of which 63.2% ($448.72) is tax-free.
 

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