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Director of Development 1761 East Woodcrest Avenue La Habra, California 90631-3260 Tel . 562-691-4227; Fax 562-691-5327 |
Director of Major Gifts 1733 Sixteenth St., Washington, DC 20009–3103 Tel. 202-232-3579, Ext. 143, Fax 202-387-1843 Or call 800-486-3331, Ext. 143 council@srmason-sj.org |
The Scottish Rite Foundation Charitable Gift Annuity Program benefits the donor with a tax deduction while also providing a fixed income for the life of the annuitants.
Robert W. Sitton, 32°, Valley of Baltimore, contributed to this month's article about the Scottish Rite Foundation Charitable Gift Annuity Program. Brother Robert is a Divisional Senior Vice President, Senior Portfolio Manager, with PaineWebber. PaineWebber assists in the management of the Scottish Rite Foundation Charitable Gift Annuity Program.
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Boy, wouldn't it be great to get
a tax deduction and increase my income at the same time? That's
exactly what the Scottish Rite Foundation Charitable Gift Annuity
Program does. It is a combination of a gift to charity and an
annuity. Depending on the donor's age, the income can be 7, 8,
9%, or higher, for the rest of the donors' lives. Some of the
annuity payment is a tax-free return of principal. The combination
of an initial charitable deduction and partially tax-free income
makes this gift annuity quite attractive. After the donors have
received income throughout their lives, the Scottish Rite Foundation
will benefit from the gift. The minimum contribution to the Scottish
Rite Foundation Charitable Gift Annuity Program is $5,000.
Do you have a highly appreciated asset such as a stock that you are afraid to touch because of the capital gains tax? You can donate the stock to the Scottish Rite Foundation Charitable Gift Annuity Program. With appreciated assets, a portion of the capital gains tax is avoided. Part of the gain is allocated to the charitable gift amount, and there is no capital gains tax on that portion. The rest of the gain is allocated to the annuity portion and is taxed each year over the projected life expectancy of the annuitant. Since the tax is spread out over the life of the annuitant, and the annuitant is receiving in part tax-free income, the transfer of appreciated property in exchange for a gift annuity can generate very favorable results. Of course, you will also receive a charitable tax deduction. The annuity amount is fixed and will not change, regardless of market conditions. If you are looking for a fixed income payment to plan for the future, the Scottish Rite Foundation Charitable Gift Annuity Program may be just the thing.
Why not find out what your rate and charitable deduction would
be by filling out the coupon on the previous page or by calling
1–800–486–3331, ext. 143?
Please Note: This information is distributed with the
understanding that the authors are not engaged in rendering legal,
accounting, or other professional service. If legal advice or
other expertise is required, the services of a competent professional
should be sought. From: A Declaration of Principles jointly adopted
by a Committee of the American Bar Association and a Committee
of Publishers.
To learn more about the Scottish Rite Pooled Income
Fund, click here.
For a chart illustrating Scottish Rite Foundation, S.J., USA,
Charitable Gift Annuity Rates–Single Life, please click here.
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Ill. Thomas M. Boles, 33°, G.C. (left in photo) has worked extensively in fund-raising for children's programs throughout our Fraternity. For more information on planned giving, call Bro. Tom at 562–691–4227 (Fax 562–691–5327) or the Scottish Rite Foundation, Southern Jurisdiction, U.S.A., at 202–232–3579, ext. 143. Ill. Earl E. Ihle, Jr., 33°, is our development team's Director of Major Gifts. He has been a member of the Fraternity for 25 years and served in 1978 as Master of Lafayette Lodge, No. 111, Baltimore, Maryland. He is also a member of Boumi Shrine Temple in Baltimore, the York Rite, and a dual member of the Scottish Rite Valleys of Baltimore and Washington, D.C. You can reach Bro. Ihle toll free at 1–800–486–3331, ext. 143. |