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Charitable Gift AnnuitiesCharitable Gift Annuities The Charitable Gift Annuity is a contract between an individual and a qualified charitable organization or institution, such as the Foundation. The individual donates appreciated assets or cash to the Foundation and in return, the Foundation agrees to pay the individual(s) fixed payments for life. For seniors, annuity rates used to calculate the fixed payment may be as high as 7%, 8% or even higher. Part of the payment is taxable as ordinary income and part of the payment is a return of principal and is tax-free. The combination of partially tax-free payments and the initial charitable deduction makes charitable gift annuities an attractive planned giving tool. For more information... For more information: Charitable gift annuities are not available from the Foundation in the following states: AR, CA, HI, MD, NJ, NY, ND, OR, WA and WI. |
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Last Modified on June 12, 2009 | Brethren in Christ Foundation, Inc. All rights reserved. |
