One example of a “life income gift” is a Charitable Gift Annuity, which is a simple contract between you and Playhouse Square. The Charitable Gift Annuity works like this:
In exchange for your irrevocable gift of cash or other assets, Playhouse Square agrees to pay you (or you and one other person) a fixed income each year of your life. The payments are guaranteed and are not affected by the ups and downs of the economy. Payout rates are based on your date of birth.
A Charitable Gift Annuity is appropriate for individuals aged 60 and older. For those individuals under age 60, we recommend a Deferred Charitable Gift Annuity. (Contact Playhouse Square for specific information about a Deferred Charitable Gift Annuity.)
A minimum gift of $10,000 is required to participate.
How do I benefit?
Step-by-Step Example of a Charitable Gift Annuity for an Individual Aged 70
Understanding your options with charitable gift annuities is step number one. If you would like to receive a confidential proposal designed specifically for you, please call Michelle Ryan Stewart, Senior Vice President of Advancement at 216-640-8410.