LEGACY GIVING

Gifts That Provide Income

GIFT ANNUITY

You can give and get! In a Charitable Gift Annuity, you and the Visual Arts Center of New Jersey agree to exchange your irrevocable transfer of cash or securities to the Visual Arts Center of New Jersey for a fixed income payment to you—for life. The gift also entitles you to an immediate charitable income tax deduction. At the end of its term, the annuity balance goes to the Visual Arts Center of New Jersey to support its mission. No wonder the Charitable Gift Annuity is one of the most popular of all planned gifts!

DONOR PROFILE:

Charitable Gift Annuities are great for donors who want to make a gift but need retirement income now in order to take care of current or anticipated expenses. Typically, this is for conservative donors who are cash conscious or who are concerned about their own or a spouse’s needs as they age. Donors who are concerned about their children’s retirement may be interested in funding a deferred flexible gift annuity for their children’s benefit.

REMAINDER UNITRUST

A charitable remainder unitrust is a separately invested and managed charitable trust that pays a percentage of its principal, revalued annually, to you and/or other income beneficiaries you name for life or a term of years (up to a maximum of 20). You receive a charitable income tax deduction for a portion of the value of the assets you place in the trust. After the unitrust terminates, the balance or “remainder interest” goes to the Visual Arts Center of New Jersey to be used as you designate.

DONOR PROFILE:

You like flexibility. You can use almost any asset to fund a unitrust, including cash, publicly traded stocks and bonds, closely held stock, partnership interests, and real estate. You can tailor your unitrust to meet many financial or estate planning goals. You can choose to receive income beginning immediately or you can structure the trust and its investments to defer most of your income to a future time (a Flip Unitrust). Due to the slightly complex nature of this gift, it’s best to discuss it with your financial advisor or attorney.

GIFT ANNUITY

You can give and get! In a Charitable Gift Annuity, you and the Visual Arts Center of New Jersey agree to exchange your irrevocable transfer of cash or securities to the Visual Arts Center of New Jersey for a fixed income payment to you—for life. The gift also entitles you to an immediate charitable income tax deduction. At the end of its term, the annuity balance goes to the Visual Arts Center of New Jersey to support its mission. No wonder the Charitable Gift Annuity is one of the most popular of all planned gifts!

DONOR PROFILE:

Charitable Gift Annuities are great for donors who want to make a gift but need retirement income now in order to take care of current or anticipated expenses. Typically, this is for conservative donors who are cash conscious or who are concerned about their own or a spouse’s needs as they age. Donors who are concerned about their children’s retirement may be interested in funding a deferred flexible gift annuity for their children’s benefit.

REMAINDER UNITRUST

A charitable remainder unitrust is a separately invested and managed charitable trust that pays a percentage of its principal, revalued annually, to you and/or other income beneficiaries you name for life or a term of years (up to a maximum of 20). You receive a charitable income tax deduction for a portion of the value of the assets you place in the trust. After the unitrust terminates, the balance or “remainder interest” goes to the Visual Arts Center of New Jersey to be used as you designate.

DONOR PROFILE:

You like flexibility. You can use almost any asset to fund a unitrust, including cash, publicly traded stocks and bonds, closely held stock, partnership interests, and real estate. You can tailor your unitrust to meet many financial or estate planning goals. You can choose to receive income beginning immediately or you can structure the trust and its investments to defer most of your income to a future time (a Flip Unitrust). Due to the slightly complex nature of this gift, it’s best to discuss it with your financial advisor or attorney.

For more information and to discuss a legacy gift to the Visual Arts Center of New Jersey (EIN 22-6046896), please contact Director of Development Jillian Decker at jdecker@artcenternj.org or 908.516.5292.

DISCLAIMER

The material presented on this website is not offered as legal or tax advice.

The Visual Arts Center of New Jersey is not engaged in legal or tax advisory service. For advice or assistance in specific cases or whether to make certain a contemplated gift fits well into your overall circumstances and planning, the services of an attorney or other professional advisor should be obtained.

The purpose of this website is to provide general gift, estate, and financial planning information. Watch for tax revisions. State laws govern wills, trusts, and charitable gifts made in a contractual agreement. Advice from legal counsel should be sought when considering these types of gifts.

We do not collect or store any sensitive information through this website. When you send us an e-mail, just remember that like any other e-mail it is not secure, and therefore you should refrain from sending sensitive data such as social security numbers, credit card numbers, bank routing numbers, and the like.

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