If you plan to support Cleveland Clinic with a charitable gift and worry you may not have enough income for yourself and loved ones, life-income gifts may be the best option for fulfilling your philanthropic goals. Life-income gifts allow you to enjoy the benefits of an increased return on your investment income while still making a significant gift to Cleveland Clinic.
Life-income plan benefits include:
- Income for life, including you and one beneficiary
- Charitable income-tax deduction in the year the gift is made
- Charitable estate-tax deduction for a portion of the gift
Consider one of the following life-income gift options when making a gift to Cleveland Clinic:
Charitable Gift Annuity
A gift annuity is a contract between you and Cleveland Clinic. In exchange for a gift of cash, marketable securities or real estate, fixed payments are guaranteed to you and your spouse for life.
Deferred-payment Charitable Gift Annuity
A deferred-payment gift annuity is a transfer of cash or marketable securities to Cleveland Clinic in exchange for a gift annuity which likely will start at your retirement age.
Charitable Remainder Trust
A trust involves the transfer of legal title of property to Cleveland Clinic to manage for the benefit of yourself and Cleveland Clinic. Trusts that make lifetime payments to Cleveland Clinic are called charitable remainder trusts.
Contact Us
For a confidential discussion about the benefits of making a life-income gift to Cleveland Clinic, please call Institutional Relations and Development at 216.444.1245 and ask to speak with a member of our gift planning team or email giftplanning@ccf.org.
