Charitable Gift Annuities
This agreement between you and the USS Midway Museum provides you with an annuity, an annual fixed payment for life, in exchange for irrevocably transferring assets to the Museum.
- Gifts can be made with cash or marketable securities.
- The fixed payment amount you receive will be determined by how much you contribute and your age at the time the gift is made.
- Payments for life may be paid to one or two annuitants. The minimum age at which an annuitant can receive payments is 65.
- A portion of the payment is tax-free.
- A charitable deduction is available for a portion of your contribution on your income tax return in the year you make the gift.
- It is possible to defer receiving payments for one or more years. This will result in higher annuity payments, higher tax deduction (available in the year you make the gift), allowing you to enjoy increased retirement income.
Charitable Rollover Gift Annuity
As of January 1, 2023, donors who are 70½ or older can now make a Qualified Charitable Distribution (QCD) in exchange for a charitable gift annuity. Please be aware of the rules and limitations:
- The transfer is a once per lifetime opportunity, up to $50,000 within a single year.
- If both spouses have an IRA, each can contribute up to $50,000 to establish one single joint-life charitable gift annuity for $100,000.
- The entire payment you receive from your charitable gift annuity will be subject to income tax.
- There is no income tax deduction for this contribution, although there is no tax on the QCD either.
Contact Us
For more information on how these gifts might work for you, please contact
Planned Giving
Robin Bolin
(619) 398-8280 direct
USS Midway Museum
910 N Harbor Dr.
San Diego, CA 92101
Information contained herein was accurate at the time of posting. The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. References to tax rates include federal taxes only and are subject to change. State law may further impact your individual results.
Your Adventure Starts Now
Your email is the key to information that will open up all your possibilities for exploring the mighty Midway!