When you are looking for ways to help Rensselaer Polytechnic Institute expand minds and possibilities you shouldn't feel like you are choosing between your philanthropic goals and financial security. One gift that allows you to support Rensselaer's work while receiving fixed payments for life is a charitable gift annuity.
Not only does this gift provide you with regular payments and allow us to further our work, but when you create a charitable gift annuity with Rensselaer you can receive a variety of tax benefits, including a federal income tax charitable deduction when you itemize.
Check Out This Real-life Scenario
Gretchen and Harold "Hal" Schindler Jr. '54 enjoyed 57 years of marriage and family life together with their four children. Sadly Gretchen passed away in 2013 following a five-year struggle with dementia.
In her honor, Hal made a charitable gift annuity to RPI, which will be used for a permanent fund in Gretchen's name to support Alzheimer's research at Rensselaer. "I read about Professor Peter Tessier's work in the area of chemical and biological engineering," Hal says. "I wanted to support it because the thrust of the research is on the prevention of diseases like Alzheimer's.
"I've had a really wonderful life and a lot of it wouldn't have been possible without the education at RPI," Hal says.
An 83 year old donor today will receive $790 annual payments from a $10,000 gift annuity and $633 of this annual payment is tax-free for the next 7.8 years. In addition, such a donor would earn an income tax deduction of $5,317.*
*Based on annual payments and a 3.2 percent charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
Payments for Life
Learn more about the many benefits of a charitable gift annuity in our FREE guide Strengthen Your Future With a Charitable Gift Annuity.View My Free Brochure
Gifts That Pay
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Plan for Retirement With a Deferred Gift Annuity.
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Calculate Your Benefits
Submit a few details and see how a charitable gift annuity can benefit you.
- Contact Art Tracy '92 MS at 518-276-2561 or firstname.lastname@example.org for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with Rensselaer.
- Seek the advice of your financial or legal advisor.
- If you include Rensselaer in your plans, please use our legal name and Federal Tax ID.
Legal Name: Rensselaer Polytechnic Institute
Address: 110 8th St., Troy, NY 12180-3590
Federal Tax ID Number: 14-1340095
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in any examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.