| 
Letter to Friends of the Libraries & Museum
Dear Friends of WKU Libraries & Museum
Are you interested in making a gift to Western's University Libraries and Kentucky Library and Museum, increasing your annual income, and receiving a tax deduction all at the same time?
In planning for your retirement, you may be considering options to maximize your income as well as contribute to your philanthropic interests. With the economy and the stock market, many donors are considering the Charitable Gift Annuity to create endowed funds to maintain the collections of the Libraries and Museum in perpetuity.
The Charitable Gift Annuity is a contract between you and the University. In exchange for a gift of cash or securities, the Western Kentucky Foundation or College Heights Foundation agrees to pay you or another beneficiary income for life, regardless of stock market fluctuations. The level of annual income will never change. Further, it also provides you with a charitable deduction for income tax purposes of 20-55% of the gift amount.
The amount of the annuity is determined by two factors: the age of the donor and the size of the donor's gift.
Sample Age of Donor Rate of Return as of January 1, 2003
| Donor's Age
|
Rate of Return
|
| 60 |
6.0% |
| 65 |
6.3% |
| 70 |
6.7% |
| 75 |
7.3% |
| 80 |
8.3% |
| 85 |
9.7% |
| 90+ |
11.5% |
Estate planning vehicles such as the Charitable Gift Annuity often provides an immediate and substantial income tax charitable deduction and possible savings on capital gains taxes and gift and estate taxes. Further, the donor has the right to have another beneficiary receive the annuity for life as their survivor, and increase their spendable income through either immediate or deferred payments.
For
additional information on the Charitable Gift Annuity
or other estate planning vehicles, I welcome the opportunity
to speak with you and can be reached at 270-745-7056
or toll free 1-888-958-2586.
Heather
Slack-Ratiu
Director of Development |
