Life Income Gifts
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hree types of life income gifts are available. Each type will generate income tax charitable contribution deductions equal to a portion of the gift and will not generate capital gain taxes at the time of transfer if funded with appreciated property.

 

Charitable Gift Annuities

If you are planning for retirement or currently wish to maximize spendable income, appreciate the value of deferring capital gains taxes, desire the security and predictability of a fixed income, and would like to benefit the Yale Peabody Museum, then a charitable gift annuity may be right for you.

A charitable gift annuity is an arrangement whereby you contribute cash or marketable securities in exchange for Yale University’s promise to pay you and, if you wish another annuitant, a guaranteed income for life at a rate based on the age(s) of the annuitant(s).

If you prefer to delay receiving income for some period of time, you may make a deferred payment charitable gift annuity contribution. Making a present transfer of assets while deferring the start of income payments will enable you to increase your income tax deduction or to increase the amount of the annuity payments.

The University asks that you give a minimum of $10,000 in order to establish a charitable gift annuity for the Yale Peabody Museum.

 

Pooled Income Funds

If you seek the protection of a diversified investment portfolio, appreciate the opportunity to select a suitable combination of investment yield and growth, and want to provide future financial stability for the Yale Peabody Museum, then you may wish to consider a pooled income fund gift. A pooled income gift is particularly appropriate if you anticipate making additional life income gifts.

A pooled income fund combines and invests your gift of cash or marketable securities (excluding tax-exempt bonds) with the gifts of others and pays your proportionate share of the fund’s yield each year to you for life, or to persons whom you designate for their lifetimes. Yale University maintains three pooled income funds: a growth fund, a balanced fund, and a stable fund.

The University asks that you make a minimum initial contribution of $10,000 to a pooled income fund. Subsequent contributions may be as low as $1,000.  

 

Charitable Remainder Trusts

A charitable remainder trust would allow you to retain income or to provide an income for someone else, provide individualized management of your gift, and may increase your capacity to make a gift to the Yale Peabody Museum.

A charitable remainder trust is a separately invested irrevocable trust you create by designating a person or persons to receive income payments of at least 5% annually and transferring cash, marketable securities, closely held stock or real property to a trustee you select. At the conclusion of the income payments, the trustee pays the trust principal to the Yale Peabody Museum.

A charitable remainder trust involves administrative and some start-up costs. Therefore, you probably should not consider such a gift arrangement for amounts less than $100,000.