A WGCU charitable gift annuity is a simple contract between you, WGCU Public Media, and the FGCU Foundation. In exchange for your irrevocable gift of cash, stocks/bonds, or other assets, the FGCU Foundation agrees to pay one or two annuitants, you name, a fixed annual income for life. Your charitable gift annuity allows you to qualify for an immediate income tax deduction. The older your designated annuitants are at the time of the gift, the greater the fixed payment/income the FGCU Foundation can pay. Furthermore, in most cases, part of each payment is tax-free, increasing the after-tax value of each payment. Best of all, you receive the satisfaction of knowing that the remainder value of your charitable gift annuity will support WGCU Public Media in Southwest Florida.
A recent example: On June 7th, a 10-year member of WGCU’s donated $40,000 worth of appreciated stock to WGCU. The stock had generated $1,000 a year in dividend income. The stock was now given irrevocably to WGCU to fund a gift annuity contract. The contract guarantees our member $2,400 a year in annual income for life. In addition, the donor receives a current income tax deduction and capital gains tax savings. WGCU’s programming will be the beneficiary of $15,700 when the contract ends.