SUNY New Paltz Foundation

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Charitable Gift Annuities

Have you ever wished you could make a significant contribution to New Paltz, but felt you could not afford to give up the income generated by the assets you would like to donate?

If you are 60 or older, a charitable gift annuity could help you achieve your goal. A charitable gift annuity is a simple contract that allows you to make a substantial gift to New Paltz and lock in guaranteed lifetime payments for you and a loved one. At the end of the annuity's term, the assets are distributed to New Paltz. A charitable gift annuity can provide you with many benefits.

Charitable gift annuities are an effective and flexible tax strategy and provide you

  • Fixed, guaranteed payments for life: When you establish a charitable gift annuity, you transfer cash or securities to the SUNY New Paltz Foundation in exchange for a contract that obligates the foundation to pay a fixed income for life to you and/or another person. The amount of annuity income you receive is a percentage of the value of the asset transferred, and is based on your age at the time you complete the agreement.
  • A substantial income tax deduction in the year that you enter into an annuity contract.
  • Significant tax-free income, since part of your income stream from the annuity is treated as a return of the principal.
  • Additional tax savings: If you donate appreciated property, you may avoid paying the full amount of capital gains taxes on the sale of those assets. In addition, the donated assets are removed from your estate for gift and estate tax purposes.

Most importantly, you have the satisfaction of making a significant investment in New Paltz's future.

Gift annuity payments can be deferred if you want the benefit from an increased tax deduction now, but wish to provide income for later years when it is needed more.

Each individual situation and person is different. Click on the Charitable Gift Annuity Calculator to create a personalized illustration of how a charitable gift annuity can work for you, or contact the Foundation Department at 845-257-3240.

Your interest is confidential and involves no obligation.