An Example of How It WorksRead More
An Example of How It Works
Susan, 75, wants to make a gift to Concordia College but would also like more income in the future. Susan creates a charitable remainder unitrust with annual lifetime payments to her equal to 5% of the fair market value of the trust assets as revalued annually. She funds the trust with assets valued at $500,000.
Susan receives $25,000 the first year from the trust. Subsequent payment amounts vary each year depending on the annual valuations of the trust assets. She is eligible for a federal income tax charitable deduction of $299,845* in the year she creates and funds the trust. This deduction saves Susan $95,950 in her 32% tax bracket.
*Based on a 1.2% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
- Contact Trina Hall at 218.299.3445 or firstname.lastname@example.org to talk about supporting Concordia College by setting up a charitable remainder trust.
- Seek the advice of your financial or legal advisor.
- If you include Concordia College in your plans, please use our legal name and federal tax ID.
Legal Name: Concordia College
Address: 901 8th St. S., Moorhead, MN 56562
Federal Tax ID Number: 41-0693977