Charitable Gift Annuities
In exchange for a gift of cash or securities, the Case Alumni Association guarantees to make fixed payments to you or someone you choose for life. Payments can also be deferred to a later date if income is not needed immediately. The Case Alumni Association receives the remaining principal upon the death of the income beneficiary. Funds can be established to benefit the Case School of Engineering or can be given to the Case Fund for areas of greatest need. You receive an immediate tax deduction and your payments may not be subject to federal taxes.
Charitable Gift Annuity*
Mr. Smith, Case Class of 1956, age 75 decides to contribute $25,000 in appreciated securities to the Case Alumni Foundation to establish a Charitable Gift Annuity (CGA). He is currently receiving $500 per year in dividend income. At current rates, the CGA will pay him 6.3% per year or $1275 annually, payable quarterly and Mr. Smith '56 will receive an immediate income tax deduction of $11,219. The assets pass to the Foundation with no probate fees or estate taxes to benefit the Case School of Engineering.
Deferred Payment Gift Annuity*
Mr. Brown, age 55 and his spouse, age 53 decide to contribute $25,000 in case to the Case Alumni Foundation to establish a Deferred Payment Gift Annuity. He wants to start receiving payments when he retire in ten years at age 65. He will receive an immediate income tax deduction of $14,064 and when he retires starting January 1, 2010 will receive an annual payment of $1000 - $250 per quarter of which $422 per year will be tax free until the end of 2044. His beneficiary, Mrs. Brown will continue to receive the payments if he should die. The Case Alumni Foundation receives the assets with no probate fees or estate taxes to benefit the Case School of Engineering.
*For illustration purposes only