Charitable Gift Annuity

Gifts That Pay You Income

There’s a way for you to support the Deltaville Maritime Museum and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity. 

With a charitable gift annuity, you agree to make a gift to the Museum and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life. The balance is used to support our work.

This type of donation can provide you with regular payments for life and allow the Museum to further our mission. You can also qualify for a variety of tax benefits depending on how you fund your gift.

If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize. In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.

And now, you can fund your gift using your IRA assets. You can make a one-time election of up to $53,000 to fund a gift annuity starting at age 70½. While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer. If you are 73 and older, your gift can count toward all or part of your required minimum distribution (RMD), which may offer greater tax advantages in some situations, particularly if you take the standard deduction.