Charitable Gift Annuities

You Might Be Interested If...

You want to make a gift to Upstate and you:

  • Want to receive a fixed income annually for life (or provide one for someone else)
  • Have assets that you are able to give away
  • Want to diversify your investments
  • Want to reduce your current income taxes with a charitable deduction

How Does It Work?

A charitable gift annuity is a contract between a donor and The Upstate Foundation, Inc.  In exchange for a gift, the Foundation agrees to pay a fixed amount each year to one or two beneficiaries (the annuitants) for life.

The amount of the annuity payment will depend upon the ages of the annuitants and the value of the assets donated. Upstate offers rates suggested by the American Council on Gift Annuities. Upon establishing a charitable gift annuity, you are entitled to a current income tax deduction for a portion of the value of the assets given to fund the charitable gift annuity.

Benefits

  • Receive fixed annual payments for life
  • Possibly receive tax-free income
  • Diversify some of your portfolio to produce a fixed income for you or a loved one
  • Federal, and possible state, income tax charitable deduction
  • Reduce or eliminate estate taxes
  • Make a gift to Upstate for a meaningful cause

Minimum Gift and Age

The minimum gift to establish a charitable gift annuity at Upstate is $50,000.  The annuitant should be at least 65 years old.

Legacy Society

Creating a charitable gift annuity will qualify you for membership in Upstate’s Legacy Society which recognizes those who have made planned gifts to Upstate.

Contact Us

If you are interested in learning more about creating an Upstate charitable gift annuity, please contact us at 315-464-4416. We would be happy to provide you with information about how a charitable gift annuity would work for you based on your circumstances.

Those considering a planned gift should consult their own legal and tax advisors. Foundation staff members are also willing to speak with advisors as well.