Charitable Gift Annuities   

This agreement between the donor and Alley Theatre provides the donor with an annuity, an annual fixed payment for life, in exchange for irrevocably transferring assets to the Theatre.

• Gifts can be made with cash or marketable securities.
• The fixed payment amount the donor receives will be determined by how much is contributed and age at the time the gift is made.
• Payments for life may be paid to one or two annuitants. The minimum age at which an annuitant can receive payments is 65.
• A portion of the payment is tax-free.
• A charitable deduction is available for a portion of the contribution on the donor’s income tax return in the year the gift is made.
• It is possible to defer receiving payments for one or more years. This will result in higher annuity payments, higher tax deduction (available in the year the gift is made), allowing the donor to enjoy increased retirement income.

Charitable Rollover Gift Annuity

As of January 1, 2023, donors who are 70 ½ or older can now make a Qualified Charitable Distribution (QCD) in exchange for a charitable gift annuity. Please be aware of the rules and limitations:

• The transfer is a once per lifetime opportunity, up to $50,000 within a single year.
• If both Spouses have an IRA, each can contribute up to $50,000 to establish one single joint-life charitable gift annuity for $100,000.
• The entire payment you receive from your charitable gift annuity will be subject to income tax.
• There is no income tax deduction for this contribution, although there is no tax on the QCD either.