Charitable Gift Annuity Program
In exchange for a gift of cash, Nevada will agree to pay you a fixed annual annuity. The rate of the annuity is based on the age of the annuitant. Part of the annuity payment will be tax-free for the duration of your life and you will receive an income tax deduction for part of the gift. If a person, age 70, transferred $100,000 to Nevada in exchange for a 6.1% annuity, he or she would receive fixed payments in quarterly installments totaling $6,100 each year for life. More than half ($3,782) of each year's payments would be tax-free for a period of years (in this case, 15.9 years) after which such payments would be taxed as ordinary income. In the year of the gift, a charitable tax deduction of $39,880 could be taken.
Note - Some securities may require minimal capital gains, but also have a tax free advantage.
For more information, please contact:
Robert M. Eggleston or Lisa Riley
University of Nevada, Reno
Planned Giving
1664 N. Virginia St. / Mail Stop 107
Reno, NV 89557
Phone:
(775) 784-6622
