In determining which vehicle is most appropriate, the following questions should be answered:

• Will the gift be based on one or two beneficiaries?
• What is the age of the donor and/or the donor's spouse, or the age of the second beneficiary?
• What asset will the gift be funded with—cash, securities or real estate?

Summary of Financial Benefits:

• A stream of income for the lifetime of the donor and a second beneficiary
• A higher yield from current investments
• A charitable income tax deduction
• Relief from capital gains taxes on gifts of appreciated property
• A reduction in federal estate taxes
• Membership in 1881 Society

Life income gifts serve a dual purpose: They provide philanthropic support for NJIT while also providing both a charitable income tax deduction and an income stream to you and/or your loved ones.

NJIT offers three basic types of life income gifts:

1. A charitable gift annuity provides a fixed income for life.
2. A charitable remainder unitrust secure a fixed and often increased income or create a hedge against inflation.
3. A charitable remainder annuity trust provides a fixed income like a gift annuity, but the tax treatment of the payout may be preferable for donors giving highly appreciated assets