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Simmons Endowment Fund

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The Terry L. Simmons Philanthropic Endowment Fund will provide scholarships to worthy individuals who would otherwise be unable to attend the Conference on Gift Annuities.

 

Case Studies

Charitable Gift Annuity Funded with Appreciated Assets

SUMMARY
Gifting an appreciated asset to charity in exchange for a Charitable Gift Annuity (“CGA”) allows a donor to benefit charity, receive an income tax deduction, defer taxation on the appreciation, and enjoy a steady, lifetime stream of income.

STUDY
Jada Bennett recently retired at age 65 and is looking forward to volunteering with her local hospital. She wants to make a significant gift to the hospital but needs to increase her annual income. She is considering selling an investment portfolio she bought 15 years ago, for $50,000, which has now appreciated to $200,000. The portfolio only pays dividends of two percent most years; sometimes it is as much as two and one-half percent, but not often. Jada could sell the portfolio, use some of the proceeds to purchase a fixed income investment, and donate the rest to the hospital. However, she knows she will pay capital gains tax of $22,500, which will deplete the amount remaining for investing and giving.

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