Over Age 70

For the charitably inclined, certain types of gifts can provide solutions to taxing problems:

Cash, check, or credit card
A gift of cash is easy to do, and the gift is not subject to gift or estate taxation. A contribution that you postmark in December is deductible for that tax year-even if Wooster receives it in January-provided the account against which the check was written had sufficient funds to cover it in December.

Charitable gift annuity
Support Wooster and receive a fixed income for life. In exchange for your gift, Wooster will provide payments for life to you or a beneficiary you designate.

Charitable remainder annuity trust
Provides for payment of a fixed dollar amount—annually or at more frequent intervals—to the designated beneficiary(ies). The amount must equal at least 5 percent of the initial fair-market value of the trust.

Charitable bequest
If you would like to make a substantial gift for Wooster but you do not have the current disposable income or assets to do so now, consider a charitable bequest.