Charitable Gift Annuity

Gifts That Pay You Income

There’s a way for you to support the Fairmont Opera House and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity1.

This type of donation can provide you with regular payments and allow us to further our work. You can also qualify for a variety of tax benefits, including a federal income tax charitable deduction when you itemize.

An Example of How it Works

Dennis, 66, and Mary, 65, want to make a contribution to the Fairmont Opera House but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity.

Based on their ages, they will receive a payment rate of 4.3 percent, which means that they will receive $860 each year for the remainder of their lives. They’re also eligible for a federal income tax charitable deduction of $6,745* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support our mission.

1A charitable gift annuity involves a simple contract between you and the Fairmont Opera House where you agree to make a gift to the Fairmont Opera House 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.

*Based on annual payments and a 3.2 percent charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.

Next Steps

  1. Contact Blake Potthoff at 507-238-4900 or at director@fairmontoperahouse.org for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with the Fairmont Opera House.
  2. Seek the advice of your financial or legal advisor.
  3. If you include the Fairmont Opera House in your plans, please use our legal name and federal tax ID.

Legal Name: Fairmont Opera House, Inc.
Address: 45 Downtown Plaza, Fairmont, MN 56031
Federal Tax ID Number: 41-1408912

The information on this website is not intended as legal or tax advice. For such advice, please consult an attorney or tax advisor. Figures cited in examples are for hypothetical purposes only and are subject to change. References to estate and income taxes include federal taxes only. State income/estate taxes or state law may impact your results.

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.