The gifts described below allow you to give to the American Red Cross while generating income for yourself and your family.
Giving and Generating Income
A charitable gift annuity is a way to make a gift to the American Red Cross, receive income for yourself or others and be entitled to a current income tax deduction for a portion of the assets given to fund the gift annuity.
A deferred gift annuity provides fixed payments to you for life in exchange for your gift of cash or securities. The payments start on a date you choose that is at least one year after you make the gift.
Do you want to benefit from the tax savings that result from supporting the American Red Cross? A trust can reduce or even eliminate any gift or estate tax that might otherwise be due in your charitable donation to the Red Cross.
A charitable remainder unitrust can help you maintain or increase your income while making a significant gift to the American Red Cross. If your unitrust grows, your payments will grow too, providing a hedge against inflation.
A flip unitrust can be an excellent way for you to give an asset that may take time to sell and receive substantial payments for life once the flip unitrust sells your asset. You might also be interested in using a flip unitrust to make a gift now that will supplement your income in the future, such as when you retire.