Life Income Gifts
Legacy Society
Gift annuities and trusts provide tax benefits and income for the donor, while helping him/her to achieve philanthropic goals. The White House Historical Association welcomes these types of gifts. The most popular life income gifts are described below.
Charitable Gift Annuity
- Irrevocable gift of at least $10,000
- Association pays annual fixed income for life based on the age of the annuitant
- Remainder of the gift is available to the Association upon the annuitant’s death
- Established with cash or securities
- No administration fee
- Immediate tax deduction
- Capital gains tax deferred for securities
- Backed by unrestricted assets of the Association
Charitable Remainder Trust
- Held in a managed trust and income used for beneficiaries
- Principal becomes property of the Association at termination of the trust
- Financial purpose can be tailored to donors needs
- Tax deduction upon creation of trust
Charitable Remainder Unitrust
- Beneficiary payments may vary with changes in principal
- Additions to principal may be made
Charitable Remainder Annuity Trust
- Trust pays fixed amount of income each year
- No additional contributions may be made to trust
Charitable Lead Trust
- Created by transfer of property to a trust during lifetime or through a will
- Association receives income from the trust for a specified number of years
- Trust, including appreciation, is returned to beneficiaries at the end of the term free of estate and gift taxes
- Tax deduction for value of annual payments
- Estate tax may be eliminated if term is long enough and the payment large enough
Deferred Gift Annuity
- Similar to a Charitable Gift Annuity
- Payments begin at a future date chosen by the donor
- Higher annuity rate and higher immediate tax deduction
- Attractive option for those who have reached their contribution limit on other retirement plans
