Charitable Gift Annuity

The Qurbani Foundation Charitable Gift Annuity enables you to transfer cash or marketable securities to Qurbani Foundation in exchange for an immediate income tax deduction (the year you make your gift) and guaranteed fixed payments to you for life. But most importantly, your Qurbani Foundation Charitable Gift Annuity gives orphan kids a chance for a better life.

For more information and assistance, please call the Planned Giving department toll free at 800-900-0027, or email us at charitygifts@qurbani.com.

To further assist you, below is a detailed explanation of the benefits of a Qurbani Foundation Charitable Gift Annuity. But prospective donors are also urged to seek the advice of a qualified tax advisor before entering into a Qurbani Foundation Charitable Gift Annuity.

Guaranteed Immediate Income

The Qurbani Foundation Charitable Gift Annuity guarantees quarterly payments to you or a person you designate for life, beginning immediately. The rate is generous and based on your age on the gift date. Nominal rates may be lower than those available from commercial insurance companies. For more information about the rates and benefits of a Charitable Gift Annuity, please contact charitygifts@qurbani.com or talk to your financial advisor. All payments are guaranteed by 1) the assets of our Segregated Annuity Reserve Fund, set aside specifically for this purpose under the oversight of the Insurance Commissioner of New York State; and 2) all other Qurbani Foundation assets. Annuity payments are not guaranteed or insured by any state agency.

Tax-Free Portion

A substantial portion of each annuity payment is tax-free over the life expectancy of the donor because it is considered a return of the gift principal. After the life expectancy of the donor, the entire annuity becomes taxable.

Avoiding Capital Gains Tax

Gifts of appreciated securities provide more benefits. Both the annuity amount and the income tax deduction are based on the full value of the gift. No capital gains tax on the appreciation will be due at the time of the gift, as long as the donor is an annuitant. For gifts of appreciated securities, the tax-free portion of the annuity payments is reduced.

Deducting a Substantial Portion of Your Contribution this Year

If you itemize your deductions in the year you make the gift, you will receive an immediate income tax deduction which will usually exceed one-third of the contributed value. The tax deduction will be greater if you choose a lower annuity rate. IRS regulations limit charitable deductions to 50% of your Adjusted Gross Income (AGI) for cash gifts (30% of AGI for stock gifts) in any year. Any unused deduction can be carried forward for five additional years.

No Maximum Contribution

The minimum gift for a Qurbani Foundation Charitable Gift Annuity is an affordable $5,000, with no maximum limit on the amount you can contribute.

Type of Gift

A Qurbani Foundation Charitable Gift Annuity can be established with either cash or securities.

Simplicity

The Qurbani Foundation Charitable Gift Annuity is simple to understand. The agreement to establish your annuity is just one page written in simple English.

Remainder for the use of Qurbani Foundation

After the annuity payments have ended, your gift will be used to help the Orphan kids.
Prospective donors are urged to seek the advice of a qualified tax advisor before entering into a Qurbani Foundation Charitable Gift Annuity.