A charitable gift annuity is part gift--part income for the donor. With interest rates on fixed investments being so low, charitable gift annuities are an excellent way to receive a steady stream of income while you are living in exchange for making the remainder gift available to Pattie A. Clay on after your death.
In exchange for your irrevocable gift of cash, securities, or other assets, Pattie A. Clay Foundation will pay one or two annuitants that you choose a fixed sum each year for life. The older your designated annuitants are at the time of the gift, the greater the fixed income Pattie A. Clay Foundation can agree to pay. In most cases, part of each payment is tax-free, further increasing each payment's after-tax value.
A minimum of $10,000 gift is required to establish a charitable gift annuity at Pattie A. Clay. Payments are made quarterly. Pattie A. Clay Foundation uses rates established by the American Council on Gift Annuities. Sample rates effective 7/1/03 include:
| Age | Gift Annuity Rate |
| 65 | 6.0 |
| 70 | 6.5 |
| 75 | 7.1 |
| 80 | 8.0 |
| 85 | 9.5 |
| 90 | 11.3 |
Additional information on Charitable Gift Annuities
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Remember, there are always details to consider which pertain to your particular situation. Therefore, it is wise to consult your accountant or attorney for additional information and restrictions on the tax consequences of any charitable contribution.