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Charitable Gift Annuities

The Charitable Gift Annuity is often referred to as the “gift that keeps on giving.” This popular deferred gift arrangement allows you to make a gift of cash or appreciated assets and receive a fixed amount of income in return. If you are interested in supporting The John and Mable Ringling Museum of Art but are concerned about your own income stream, the gift annuity may suit your needs.

How it works:

A contract governs the terms of an agreement between the donor and The John and Mable Ringling Museum of Art/FSU Foundation whereby the Foundation agrees to pay the donor and up to one other individual a fixed amount of income for life, in return for the donor’s gift of cash or securities. The payout rate is determined by the age of the annuitant(s) at the time the contribution is made.

Special Tax Advantages:

Upon setting up a charitable gift annuity, the donor receives a federal income tax deduction that is equal to the present value of the gift (the value of the gift in today’s dollars). If appreciated assets are used, the donor may be able to avoid paying income tax on the amount of capital gain recognized. In addition, the annuitant(s) only pays income tax on some of the income received each year.

Flexible Payout Schedule:

In certain situations, it may make sense for annuity payments to be deferred so that the donor or another annuitant can delay receipt of income until a certain event occurs, such as retirement. This can be accomplished by establishing a deferred payment charitable gift annuity. The payout rate is established at the time the contract is signed and is based on the age of the annuitant(s) on the date they actually begin receiving the income.  

A minimum of $25,000 is required to establish a charitable gift annuity with The Florida State University Foundation in support of The John and Mable Ringling Museum of Art.