New Charitable Gift Annuity Rates Coming!
We have some exciting news that can boost your retirement income and support Palm Springs Art Museum. Effective July 1, 2018, charitable gift annuity rates will increase.
How It Works
The concept is simple. With a charitable gift annuity, you make a donation using cash, marketable securities or other assets, and we, in turn, pay you a fixed amount for life. With this type of gift, you can feel secure knowing you can count on receiving stable payments for as long as you live. If you make your gift on or after July 1, the gift annuity rates will be an estimated 30 to 50 basis points higher than current rates based on your age at the time of the gift.
Now is the time to contact David Hodges at 760-322-4885 or dhodges@psmuseum.org to begin planning your gift!
Here’s an Example of How You May Benefit
Under the current rate schedule, Mary, 79, transfers $25,000 in exchange for a charitable gift annuity. She will receive annual payments of $1,650, a rate of 6.6 percent. Instead, if Mary waits to make her gift on or after the new rate schedule is in place on July 1, the same gift amount will provide $1,775 in annual payments, reflecting a 7.1 percent rate. That’s a payout rate increase of approximately 7.5 percent.
| New Rate Charts (effective July 1, 2018) | |||
| One Recipient | Two Recipients | ||
| Age | Rate | Ages | Rate |
| 60 | 4.7% | 60/65 | 4.3% |
| 65 | 5.1% | 65/70 | 4.7% |
| 70 | 5.6% | 70/75 | 5.2% |
| 75 | 6.2% | 75/80 | 5.7% |
| 80 | 7.3% | 80/85 | 6.6% |
| 85 | 8.3% | 85/90 | 8.0% |
| 90+ | 9.5% | 90/95+ | 9.3% |
Additional Benefits
Beyond increasing your retirement income as you help shape the museum’s future, gift annuities offer you tax benefits, including:
- A partial income tax charitable deduction now for your gift when you itemize.
- Part of each payment is income tax-free throughout your estimated life expectancy.
Tip: Consider Giving Appreciated Assets
Funding a gift annuity with appreciated assets, such as securities, will not only provide you with reliable payments for life and allow you to support the museum’s work, but it can offer financial benefits. You will receive a federal income tax charitable deduction (when you itemize) in the year the gift is made and eliminate part of the capital gains tax you would have paid if selling the securities.
We Can Help
We would be happy to send you a free, no-obligation illustration showing you the increased benefits you can receive from a charitable gift annuity if you make your gift on or after July 1, 2018. Your personalized illustration will include your potential income tax charitable deduction and our annual payments to you for life. Contact David Hodges at 760-322-4885 or dhodges@psmuseum.org to begin.
The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for illustrative purposes only. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
Palm Springs Art Museum:
Closed Monday
Tuesday, Wednesday, Friday, Saturday, and Sunday
10 a.m. – 5 p.m.
Thursday / 12 p.m. - 8 p.m.
Annenberg box office open Wednesday – Friday
10 a.m. – 4 p.m.
(760) 322-4800
Palm Desert:
Closed Monday
Tuesday, Wednesday, and Thursday / 10 a.m. - 5 p.m.
Friday / 12 p.m. - 8 p.m.
Saturday-Sunday / 10 a.m. - 5 p.m.
(760) 346-5600
Architecture and Design Center:
Closed Monday and Tuesday
Wednesday, Friday, Saturday, and Sunday / 10 a.m. - 5 p.m.
Thursday / 12 p.m. - 8 p.m.
(760) 423-5260
All Rights Reserved. Privacy Policy
Website design by e-works media, inc
Palm Springs Art Museum is the largest cultural institution in the Coachella Valley and includes three locations in Palm Springs and Palm Desert. The flagship building is located in downtown Palm Springs and features compelling art exhibitions, a vast permanent collection, and the 433-seat Annenberg Theater, all in a 150,000 square foot, architecturally-significant building. Palm Springs Art Museum Architecture and Design Center, Edwards Harris Pavilion features exhibitions and programming that explore the rich topics of architecture and design. Palm Springs Art Museum in Palm Desert is an 8,400 square foot, Silver LEED-certified building named The Galen that presents rotating exhibitions and special collections. It is surrounded by the four-acre Faye Sarkowsky Sculpture Garden featuring important sculpture works. Admission to the Palm Desert location is now free to the public, generously underwritten by Helene V. Galen. Palm Springs Art Museum and the A D Center are open to the public with free admission every Thursday evening from 4-8 p.m., thanks to the City of Palm Springs. Both locations have free admission the second Sunday of each month.