Charitable Gift Annuities
WVXU and WMUB are excited to offer station supporters a way to benefit their favorite public radio station and provide lifetime income for themselves as well, through a charitable gift annuity.
How does a gift annuity work?
In return for an irrevocable gift of cash or securities, and pursuant to a signed agreement, Cincinnati Public Radio agrees to make fixed payments to one or two annuitants for life. The older annuitants are at the time of the gift, the greater the fixed amount Cincinnati Public Radio can agree to pay. In most cases, part of each payment is tax-free, increasing each payment's after-tax value.
Who may receive payments from the annuity?
Payments may be made to up to two annuitants. While typically the donors name themselves, an annuity can also be established to benefit others, such as a parent or sibling.
What will the amount of the payments be?
The annuity payments will be determined at the time the annuity agreement is entered into, and will be based on the age/s of the annuitant/s at that time. Please refer to the accompanying chart for sample rates for both one- and two-life annuities.
Current Gift Annuity Rates:
Age(s) One-Life Two-Life
70 5.1 % 4.6 %
75 5.8 % 5.0 %
80 6.8 % 5.7 %
85 7.8 % 6.7 %
90 9.0 % 8.2 %
Cincinnati Public Radio adheres to the rates suggested by the American Council on Gift Annuities.
How does a gift annuity benefit WVXU and WMUB?
At the end of the annuitant’s life (or, with a two-life annuity, the end of both lives), the remainder of the principal you have transferred will be used to support the work of WVXU and WMUB.
Is there a minimum age to participate in WVXU and WMUB’s charitable gift annuity program?
Yes. The minimum age is 70.
What is the minimum gift required to create a charitable gift annuity with WVXU and WMUB?
Yes. For first-time charitable gift annuity funders, $25,000 is the minimum gift.
Are there tax advantages with a gift annuity?
Yes. The donor receives a charitable deduction in the year of the gift. In addition, a portion of the annuity payments will be tax-free, representing a return of the principal contributed.
Can I contribute securities for a gift annuity?
Yes. In fact, contributing highly appreciated securities which you have held for more than 12 months offers additional tax savings. The donor pays no tax on the capital gain attributable to the charitable gift portion of the contribution. If the donor is an annuitant, the gain attributable to the annuity payments does not need to be recognized in the year of the gift but can be reported ratably over life expectancy.
Who can I contact with questions or to request a charitable gift annuity illustration?
Please call Conrad Thiede at 513-419-7116 or email firstname.lastname@example.org. All inquiries will be kept in strict confidence.