Life Income Gifts

Make a Gift and Receive Income for Life

A life income gift…You irrevocably transfer some assets to Lifeworks now, and in return, you (and a survivor, if you wish) receive income for life. As a result, the assets are used to carry out our mission.

Benefits of Life Income Giving:

   • You will receive yearly income
   • A charitable deduction in the year you make the gift for the present value of our right to eventually receive the assets
   • Your effective yield is increased by substantial income tax savings.
   • Income can be taxed more favorably in some plans.
   • Your probate and estate administration costs may be reduced.
   • The pleasure of knowing the good work your gift will do

In exchange for your gift of cash or marketable securities to Lifeworks, we agree to pay you (and a survivor or other beneficiary) a fixed amount annually for your lifetime. The transfer is part gift and part purchase of an annuity. The rate of return is attractive and the payments are guaranteed for life.

The rates are different for an annuity for two lives. The rates for two lives are less than rates for one life because the period of payment may be longer. If you wish, you may defer charitable gift annuity. You can make the gift now, and the Lifeworks will pay you (and another beneficiary, if you wish) life income starting at any date you specify. This is a great option if you are concerned about retirement income. Also, you receive the income tax deduction in the year you make the gift. The amount you receive each year depends on the amount transferred, your age now, and your age when the payments are to start.

Two Ways to Establish a Life Income Gift

Charitable Remainder Trust...How does is work?
You irrevocably transfer cash/securities to a tax exempt trust. you may designate yourself or someone else to receive income for life. At the end of the income payments, the remaining assets in the trust will be paid to Lifeworks.

Pooled Income Fund
Your gift of money, marketable securities, or both is invested together with similar gifts from other supporters. You or your beneficiary will be entitled to a pro rate share of the income of the fund for life.

For example, a $10,000 life income gift is invested in a pooled income fund. Your share of the annual earnints would be the percentage earned by the fund times your gift. For example, if the fund earned 5%, your earnings would be $500. Each year, your payment will reflect any increase or decrease in the fund's net income.