Life income gifts serve a dual purpose: the gift provides future support for Duke while also providing a charitable income tax deduction and payments to you and/or your loved ones. Payments can be fixed, variable, or deferred depending on your needs and preferences.
These gift vehicles can provide income benefits comparable to—or in some cases exceeding—those that might be earned in non-charitable vehicles. Many donors establish life income gifts with assets that are producing a small amount of income, such as cash or appreciated stocks that do not earn dividends.
Duke offers four basic types of life income gifts that will provide income to you or a loved one:
- Charitable gift annuity provides a fixed income for life in exchange for a gift of cash or stock of $10,000 or more.
- Charitable remainder unitrust is a trust that pays you and/or other recipients an income for life or designated years for a gift of $100,000 or more, and ultimately benefits your designated purpose at Duke.
- Charitable remainder annuity trust provides a fixed income like a charitable gift annuity but the tax treatment of the payout may be preferable for gifts of highly appreciated assets of $100,000 or more.
- Pooled income fund combines gifts from many donors into a common investment pool with income distributed on a proportional basis for gifts of $5,000 up to $10,000.