Tax deduction in the year of the gift.
Foundation is remainder beneficiary.
Income payments are a fixed percentage of trust principal value. Remainder beneficiaries may include other charities in addition to GSA Foundation. Charitable Remainder Annuity Trust Same as unitrust except that income payments are a fixed dollar amount rather than a fixed percentage. In return for a contribution, Foundation issues an annuity in a set amount, payable quarterly or annually, to contributor for life. Tax deduction in year of gift.