Charitable Gift Annuities

Charitable gift annuities can help you enhance your income or extend your retirement assets with a deferred income annuity.

A charitable gift annuity is an agreement between the donor and the Conservancy. In exchange for an irrevocable transfer of assets to the Conservancy for its eventual use you and/or someone else you name receive fixed payments for life, guaranteed with the assets of the Conservancy. Additionally, you receive a charitable income tax deduction in the year you make the gift. At your death the remaining assets come to Central Park Conservancy to help secure the future of Central Park.

Gifts can be established with $5,000 or more using cash or marketable securities.

The number and ages of the annuitants determine the rate of income and your income tax deduction.

Using appreciated securities allows you to unlock income from low-yielding assets while reducing, delaying, or altogether avoiding capital gains tax.

Deferred-payment gift annuities can help you supplement or extend your retirement assets.

Central Park Conservancy Sample Gift Annuity Rates for a Single Life

Calculate Your Own Tax Savings and Income Benefits

For example:

Dr. Irving Newhill is 75 years old. He used $10,000 cash to establish a charitable gift annuity for the eventual benefit of Central Park Conservancy. He receives:

• guaranteed payments for life at 6.4% ($640 annually)
• $483 of annual payment is tax free
• a charitable deduction of $4,016

Dr. Newhill could have chosen to defer the income from his gift for 3 years, until he is 78, and it would have increased both the rate of the payments when they began and the deduction he received for his gift. It would look like this:

• guaranteed payments for life at 7.7% ($770 annually)
• $487 of the annual payment is tax free
• the charitable deduction, which he can take in the year he makes the gift, increases to $4,894

For more information and an example of how a gift annuity might work for you, call the Office of Planned Giving at 212-310-6645, or e-mail .

*Note: Figures above are based on a gift made in January 2011 and are for illustration purposes only. Central Park Conservancy uses the rates suggested by the American Council on Gift Annuities.