Charitable gift annuity
Without the support of our generous circle of givers, PacRep could not withstand the "whips and scorns of time."
A charitable gift annuity lets you support Pacific Repertory Theatre and at the same time improve the quality of life for your family.
In exchange for your gift of cash or marketable securities, PacRep agrees to pay you (and a survivor or other beneficiary) a fixed amount every year for life. The transfer is part gift and part purchase of an annuity. The rate of return is attractive and the payments are guaranteed for life. PacRep uses the rates recommended by the American Council on Gift Annuities.
| Age | Rate |
|---|---|
| 55 | 6.1% |
| 56 | 6.2% |
| 57 | 6.3% |
| 58 | 6.4% |
| 59 | 6.5% |
| 60 | 6.6% |
| 61 | 6.7% |
| 62 | 6.8% |
| 63 | 6.9% |
| 64 | 6.9% |
| 65 | 7.0% |
| 66 | 7.1% |
| 67 | 7.2% |
| 68 | 7.3% |
| 69 | 7.4% |
| 70 | 7.5% |
| 71 | 7.6% |
| 72 | 7.7% |
| 73 | 7.8% |
| 74 | 8.0% |
| 75 | 8.2% |
| 76 | 8.3% |
| 77 | 8.5% |
| 78 | 8.7% |
| 79 | 9.0% |
| 80 | 9.2% |
| 81 | 9.6% |
| 82 | 9.6% |
| 83 | 9.9% |
| 84 | 10.2% |
| 85 | 10.5% |
| 86 | 10.8% |
| 87 | 11.1% |
| 88 | 11.4% |
| 89 | 11.7% |
| 90+ | 12.0% |
| Ages | Rate |
|---|---|
| 65 / 60 | 6.4% |
| 65 / 65 | 6.6% |
| 70 / 65 | 6.7% |
| 70 / 70 | 6.8% |
| 75 / 70 | 7.0% |
| 75 / 75 | 7.3% |
| 80 / 75 | 7.5% |
| 80 / 80 | 8.0% |
| 85 / 80 | 8.4% |
| 85 / 85 | 9.0% |
| 90 / 85 | 9.6% |
| 90 / 90 | 10.6% |
Example: Miss Anderson, age 75, transfers $10,000 to Pacific Repertory Theatre for a gift annuity. She receives a guaranteed annual income of $820 ($10,000 × 8.2%, the rate for her age).
Joint and survivor annuities
Gift annuities can pay for the lifetimes of two people, such as spouses, siblings, parents and children, or close friends. Rates for two lives are lower because payments may continue longer. Two-life annuities also provide charitable deductions, and payments that are partly tax-free.
Example: Mr. Edwards is 75 and his wife is 70. They transfer $20,000 for a gift annuity and receive $1,400 a year for life ($20,000 × 7.0%). Full payments continue for the survivor's life.
Deferred gift annuities
You can make the gift now and have PacRep pay you (and another beneficiary, if you wish) life income starting at any date you choose: a great option if you are thinking about retirement income. You receive the income tax deduction in the year of the gift.
Example: Miss Baker, age 50, transfers $10,000 for a deferred gift annuity with payments starting at age 65. Her rate will be 16.3%, so she receives $1,630 a year for life.
The charitable deduction is available to donors who itemize, and may not be wholly deductible in one year; excess deductions can be carried over for up to five years. A charitable gift annuity is an irrevocable gift, but one with excellent tax and financial benefits.
We make no claims regarding the accuracy of this information or the tax consequences of your use of it. Please consult your own tax, legal or financial planning advisor.