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1501 Mendocino Ave.
Santa Rosa, CA 95401-4395
Charitable Remainder Annuity Trust with
SRJC Foundation as Trustee
Like the unitrust, the charitable remainder annuity trust is an income vehicle, which irrevocably transfers the remainder interest to the SRJC Foundation upon the death of the income beneficiaries (or for a specified term of not more than 20 years). The concept of an annuity trust is simple and straightforward. As its name implies, it pays income beneficiary(ies) a fixed dollar amount annually.
Minimum Funding Level:
The minimum suggested amount to establish a qualified charitable remainder unitrust is $100,000 and the charitable contribution, computed using standard government tables, should be the greater of $50,000 or 25% of the initial level of funding.
Minimum Age Levels:
The minimum age of beneficiaries for all life income gifts is 50 years old at the time payments begin. The minimum age, however, is not applicable for trusts of terms of years and the payment rate is subject to negotiation. For donors below 50, in special cases, approval may be granted by the Board of Directors.
Rate of Payment:
The amount must be specified in the trust instrument as either a dollar figure or a percentage of the initial fair market value of the assets used to fund the trust. This amount cannot be less than five percent (5%) of the initial contribution. The higher the rate of return, the lower the value of the remainder interest, and the lower the benefit of the charitable income tax deduction. The maximum payment limitations are dependent upon the ages of the beneficiaries, type of trust, anticipated investment strategy, and prevailing economic conditions.
As with the unitrust, gifts of cash and appreciated securities are appropriate funding assets. Annuity trusts funded with real estate or other non-liquid assets generally will be accepted when the net income from the real estate or other non-liquid assets exceeds the required payout, unless otherwise determined by the Board of Directors.
Charitable Gift Annuity
Charitable Remainder Unitrust with SRJC Foundation as Trustee
Charitable Remainder Annuity Trust with SRJC Foundation as Trustee
Charitable Lead Trust
Retained Life Estate
Gifts of Retirement Plan Interests