New annuity law and interest rates create an opportunity to give and save
The Consolidated Appropriations Act (CAA) of 2023 allows a one-time distribution of up to $50,000 from your IRA to create a charitable gift annuity (CGA) for those 70½ or older. Your gift may count toward your Required Minimum Distribution (RMD) but does not count as income for federal income tax purposes. The annuity is payable for life and/or the life of your spouse, and you cannot outlive the payments.
Also, interest rates on CGAs have increased this year, which means you get a bigger return on your gift. You can find a current interest calculator on Carleton’s website. As always, please feel free to reach out if you would like to learn more about how to support the college through a CGA. We also recommend donors consult a qualified advisor before making a new gift commitment.
Planned Giving Introduces Webinar Series!
The Office of Planned Giving has introduced a series of webinars designed to advise potential donors about the various giving opportunities and how they might work for you. Topics include wills and beneficiaries, qualified charitable distributions (QCDs), and real estate. Look for an announcement about our next webinar coming in late September!
Learn more about ways to make a planned gift!