A Charitable Gift Annuity is a very simple contract between the American Lung Association of Indiana and a donor. Essentially, the donor makes a gift to the American Lung Association of Indiana in return for fixed payment for one or two persons’ lives. The size of the payments is based on the age of the payment recipient(s) when the gift is made (the older the recipient the larger the payments). Benefits include guaranteed payments for life, a portion of which is income-tax free for a period of years; a charitable income tax deduction for a portion of the gift amount; and favorable capital gains treatment. It is recommended that anyone considering establishing an annuity consult with their attorney or estate planner. If you have any questions, please call Jeff Iliff at (317) 819-1181 ext 235 or email at jiliff@lungin.org.
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