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Income Gifts

 

Gift Annuity

A gift annuity is a simple contract between you and MSK. You make a gift of cash or securities today—and we, in turn, provide you (and a second individual if you choose) with fixed payments each year for the rest of your life. When you create a gift annuity with MSK, you will also become a member of the Cullum Society. After your lifetime, the remaining balance is used to help us develop new and better cancer therapies for patients worldwide.

Benefits

With this type of gift you can:

  • Receive fixed, dependable payments for life.
  • Qualify for an income tax charitable deduction for a portion of your gift's value, depending on your tax situation.
  • Provide long-term support for cancer research and care.

Gift Annuity Payout Rates

Your payout rate is based on your age and the number of people receiving payments. This rate is determined when you create the gift annuity and, because it is not tied to the stock market or interest rates, it will never change. If your rate is not listed, use our interactive tool to calculate your potential benefits.

Calculate My Benefits

New York regulates the maximum allowable rate for its residents; thus, the rates for New York residents may vary slightly. If you reside in New York, please contact us directly.

One Person Two People
Age Rate Ages Rate
90+ 9.1% 90/95+ 8.8%
85 8.1% 85/90 7.5%
80 7.0% 80/85 6.3%
75 6.0% 75/80 5.5%
70 5.3% 75/75 5.2%
65 4.8% 70/75 4.9%

Guidelines

  • We welcome gift annuities with an initial gift amount of $10,000 or more.
  • Up to two people, both at least 60 years of age, may receive lifetime payments.

New York regulates the maximum allowable rate for its residents; thus, the rates for New York residents may vary slightly. If you reside in New York, please contact us directly. Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.

Next Steps

  1. Request personalized gift annuity calculations from our Office of Planned Giving staff that illustrate the possible tax benefits.
    Toll free: 800-688-1827
    Email: plannedgiving@mskcc.org
  2. Seek the counsel of your financial or legal advisor.
  3. Complete the gift annuity application that was enclosed with your personalized calculations and return it along with a check or notification that you will be transferring securities in exchange for a gift annuity.

Legal Name: Memorial Sloan Kettering Cancer Center
Address: 1275 York Avenue, New York, NY 10065
Federal Tax ID Number: 13-1924236

A man holding and looking at a tablet

Free Resource

Learn more about the gifts that pay you income. View our free guide, Gift Annuities: The Power to Give and Receive.

View My Guide

 

Charitable Remainder Trust

A charitable remainder trust is a special kind of irrevocable trust funded with cash or appreciated assets. The trust makes regular payments to you for life or, if you prefer, for a fixed term up to 20 years. You may also choose for others to receive payments, such as your spouse, children, or grandchildren. At the end of the trust term, the remaining amount in the trust is used by MSK to advance cancer care and research.

Benefits

With this type of gift you can:

  • Potentially increase your income stream from low-yield assets you use to fund the trust.
  • Receive an income tax charitable deduction for a portion of your gift's value, depending on your tax situation.
  • Pay no up-front capital gains tax when you give appreciated assets to the trust.
  • Potentially enjoy other tax benefits, depending on how the trust assets are invested.
  • Provide long-term support for cancer research and care.
  • Enjoy membership and special benefits as part of the Cullum Society.

Charitable Remainder Unitrust

This is the most popular form of charitable remainder trust. It pays you, each year, a variable amount based on a set percentage of the value of the trust assets, recalculated annually. Use our interactive tool to calculate your potential benefits.

Calculate My Benefits

Charitable Remainder Annuity Unitrust

A less common choice, this type of trust pays you, year after year, a fixed dollar amount you select at the outset. The payments are fixed, based on the starting valuation. Use our interactive tool to calculate your potential benefits

Calculate My Benefits

Guidelines

  • Charitable remainder trusts typically make most financial sense when funded with a large contribution, such as $250,000 or more.
  • Your payments are based on a percentage of the trust's value. The percentage must be at least 5 percent. The trust payout is determined in consultation with the trustee you select to manage your charitable remainder trust.

Next Steps

  1. Request personalized trust calculations from our Office of Planned Giving staff that illustrate the possible tax benefits.
    Toll free: 800-688-1827
    Email: plannedgiving@mskcc.org
  2. Seek the counsel of your financial or legal advisor to assist you in planning and creating a charitable remainder trust.
  3. Select a trustee to manage and invest your charitable remainder trust. This may be an institutional trustee, such as a bank, or it may be an individual you select to manage your trust.
  4. Please use our legal name, address, and Federal Tax ID if incorporating MSK into your plans:

Legal Name: Memorial Sloan Kettering Cancer Center
Address: 1275 York Avenue, New York, NY 10065
Federal Tax ID Number: 13-1924236

A couple looking at a computer

Free Resource

Feel secure about giving back with a gift in your trust. View our free guide, A Plan That Offers a Lifetime of Benefits.

View My Guide

 

Pooled Income Fund

A pooled income fund consists of gifts from multiple donors that are combined into a trust and invested for the benefit of all donors and ultimately MSK. You and/or your beneficiaries receive a proportional share of the fund's annual income for life, while also enjoying the benefits that come with being a member of the Cullum Society. At the death of the last income beneficiary, the principal of your gift will be used by MSK to advance cancer care and research.

Benefits

With this type of gift you can:

  • Receive a source of income for life.
  • Receive an income tax charitable deduction for a portion of your gift's value, depending on your tax situation.
  • Provide long-term support for cancer research and care.
Calculate My benefits

Guidelines

  1. Pooled income funds require an initial gift of $10,000 or more.
  2. Up to two people, both at least 60 years of age, may receive lifetime payments.
  3. You may add to the fund at any time in amounts of $1,000 or more.

Next Steps

  1. Request personalized pooled income fund calculations from our Office of Planned Giving staff that illustrate the possible tax benefits.
    Toll free: 800-688-1827
    Email: plannedgiving@mskcc.org
  2. Seek the counsel of your financial or legal advisor.
  3. Complete the pooled income fund application enclosed with your personalized calculations and return it along with a check or notification that you will be transferring securities to create a pooled income fund gift.

Legal Name: Memorial Sloan Kettering Cancer Center
Address: 1275 York Avenue, New York, NY 10065
Federal Tax ID Number: 13-1924236

 

We Can Help

Contact the Office of Planned Giving at 800-688-1827 or plannedgiving@mskcc.org for additional information on life income gifts and how they can help support MSK's mission.

Is MSK already included in your estate plans?

A charitable bequest is one or two sentences in your will or living trust that leave to Memorial Sloan Kettering Cancer Center a specific item, an amount of money, a gift contingent upon certain events or a percentage of your estate.

An individual or organization designated to receive benefits or funds under a will or other contract, such as an insurance policy, trust, or retirement plan.

I bequeath to Memorial Sloan-Kettering Cancer Center, a New York nonprofit corporation having a principal place of business at 1275 York Avenue, New York, NY 10065, Federal Tax ID #13-1924236, ____percent of my total estate (or $_____, or other property) to be used or disposed of as Memorial Sloan-Kettering Cancer Center in its sole discretion deems appropriate.

able to be changed or cancelled

A revocable living trust is set up during your lifetime and can be revoked at any time before death. They allow assets held in the trust to pass directly to beneficiaries without probate court proceedings and can also reduce federal estate taxes.

cannot be changed or cancelled

tax on gifts generally paid by the person making the gift rather than the recipient

the original value of an asset, such as stock, before its appreciation or depreciation

the growth in value of an asset like stock or real estate since the original purchase

the price a willing buyer and willing seller can agree on

The person receiving the gift annuity payments.

the part of an estate left after debts, taxes and specific bequests have been paid

a written and properly witnessed legal change to a will

the person named in a will to manage the estate, collect the property, pay any debt, and distribute property according to the will

A donor-advised fund is an account that you set up but which is managed by a nonprofit organization. You contribute to the account, which grows tax-free. You can recommend how much (and how often) you want to distribute money from that fund to MSK or other charities. You cannot direct the gifts.

An endowed gift can create a new endowment or add to an existing endowment. The principal of the endowment is invested and a portion of the principal’s earnings are used each year to support our mission.

Tax on the growth in value of an asset—such as real estate or stock—since its original purchase.

Securities, real estate, or any other property having a fair market value greater than its original purchase price.

Real estate can be a personal residence, vacation home, timeshare property, farm, commercial property, or undeveloped land.

A charitable remainder trust provides you or other named individuals income each year for life or a period not exceeding 20 years from assets you give to the trust you create.

You give assets to a trust that pays our organization set payments for a number of years, which you choose. The longer the length of time, the better the potential tax savings to you. When the term is up, the remaining trust assets go to you, your family or other beneficiaries you select. This is an excellent way to transfer property to family members at a minimal cost.

You fund this type of trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. You can also make additional gifts; each one also qualifies for a tax deduction. The trust pays you, each year, a variable amount based on a fixed percentage of the fair market value of the trust assets. When the trust terminates, the remaining principal goes to MSK as a lump sum.

You fund this trust with cash or appreciated assets—and may qualify for a federal income tax charitable deduction when you itemize. Each year the trust pays you or another named individual the same dollar amount you choose at the start. When the trust terminates, the remaining principal goes to MSK as a lump sum.

A beneficiary designation clearly identifies how specific assets will be distributed after your death.

A charitable gift annuity involves a simple contract between you and MSK where you agree to make a gift to MSK and we, in return, agree to pay you (and someone else, if you choose) a fixed amount each year for the rest of your life.

A tax imposed at one's death on the transfer of most types of property. Currently federal estate taxes are assessed in 2022 on estates worth more than $11.2 million. The maximum estate tax rate is 40 percent. Some states also impose taxes at death that vary depending on state law.

A written legal instrument created by a grantor for the benefit of him/herself (during life) or others (during life or at death).

A revocable trust established by a grantor during his or her lifetime in which the grantor transfers some or all of his or her property into the trust.

Equity or debt instruments, typically shares listed on a stock exchange, which can be readily bought or sold.