Gifts that provide you and your loved ones income can be given to Vermont Humanities through our partnership with the Vermont Community Foundation (VCF). The foundation holds these trusts and gifts for the benefit of Vermont Humanities. You could also serve as your own trustee, or use a different third-party trustee, such as a bank or trust company.
Types of Gifts
Charitable Remainder Trust
Your trust pays you and/or a loved one a fixed annual sum or a fixed percentage of the trust’s value each year, either for life or for a term of years. The remaining assets then go to a fund at the VCF that benefits Vermont Humanities. Part of your gift qualifies for an immediate tax deduction, as determined by IRS tables.
Charitable Lead Trust
If you have assets producing income that you don’t now need but you’d like your children or grandchildren to inherit those assets, consider a charitable lead trust. Income will be paid to Vermont Humanities during the term of the trust, which can be for either a term of years or for an individual’s lifetime. At the end of that time period, the assets in the trust go back to you or your loved ones. A charitable lead trust is a great way to provide for children or grandchildren and help Vermont Humanities now.
Charitable Gift Annuity
In exchange for your gift to the Vermont Community Foundation for the benefit of Vermont Humanities, you and/or a loved one receives a fixed amount annually for the rest of your life. Part of this payout is tax-free, and you receive an immediate charitable deduction, as determined by IRS tables. The rate paid by the annuity is determined by the age or ages of the income beneficiaries. When the gift annuity ends, the remaining principal passes to a fund to benefit Vermont Humanities. The Vermont Community Foundation is now offering attractive payout rates on newly created gift annuities, which makes this a good time to create a charitable gift annuity.
Deferred Gift Annuity
In exchange for your gift to the Vermont Community Foundation for the benefit of Vermont Humanities, you and/or a loved one receive fixed sum payments each year for life starting at some future date. Part of this income is tax-free, and you receive an immediate charitable deduction, as determined by IRS tables. A deferred gift annuity has the advantage of providing an immediate charitable income tax deduction (during, perhaps, your high income years) and then a guaranteed fixed stream of income beginning some time in the future, perhaps during your retirement years. The longer you wait to receive income, the higher the rate of return you receive. When the annuity ends, the remaining principal passes to a fund to benefit Vermont Humanities. The funding minimum is $15,000 for annual payments and $25,000 for quarterly payments.
