Gift Annuities

By creating a gift annuity for the benefit of the TMC Foundation, you can receive guaranteed fixed lifetime income for yourself and a loved one while also making a significant gift to the hospital.

You may fund your gift annuity with cash or marketable securities. The TMC Foundation then reinvests the assets and agrees to make fixed annual payments to you (and a loved one, if you so choose) for life. You have the benefit of knowing that your gift will support the TMC Foundation’s mission, while also ensuring a secure income for your retirement.

An additional benefit is in the significant tax savings that accompany a gift annuity plan. You not only receive a charitable income-tax deduction for the funds transferred, but you also may receive a portion of the annual payments tax free, as a return of capital. If your gift consists of appreciated property, you may prevent capital-gains taxation as well. And because the assets are removed from your estate, gift and estate taxes also typically are reduced.

Gift annuities may be tailored to meet your specific needs. Payments may be made quarterly, semi-annually or annually, based on your preference. The payout rate depends on the number of annuitants and their ages. You have the option of creating a plan to cover either one life or two.

Payments may begin as soon as the annuitants reach the age of 65. Younger donors often decide to defer receipt of the annuities until retirement or later, when the income will be most needed. Deferred gift annuities typically earn even greater tax savings as well as an increased level of income from the annuity, as compared with annuities that take effect immediately. With government limits on the amount that may be accrued in many retirement plans, such as IRAs, Keoghs and 401(k) plans, the deferred gift annuity is an important supplemental retirement-planning vehicle.

Call (520) 324-5982 for more information.