| A way to earn money, save taxes
and give to ELDCPS
Have you always wanted to give a sizeable gift to the ELDCPS and not
sure you have the funds to do it? Now you can and it even may help your
taxes and you can get income from your gift for life. Here is how it
works:
- The donor gives a gift of property (usually cash or securities).
- In return, the donor immediately receives an income tax deduction
for a portion of his/her gift.
- Beginning on a specified date, ELDCPS begins to pay you or up to
two name annuitants fixed payments for life.
- When the contract ends, the principal from your gift passes on to
ELDCPS.
The tax benefits of a charitable gift annuity are the following:
- You will receive a charitable income tax deduction when you
create a gift annuity based on the fair market value of the assets
you contribute
minus the present value of the life-income interest you retain.
- If you fund your charitable gift annuity with appreciated
securities, no up-front capital gains tax is due upon transfer.
- Only part of your monthly income payments will be taxed and
a portion will be treated as tax-free return in principal. This increases
the effective yield of a gift annuity.
Please contact me with any questions you might have.
Joel E. Long, MST, ATP
ELDCPS Treasurer
jlong@eldcps.org
Office Phone (866) 261-6703
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