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Anna started her career at General Hospital and worked for a pediatrician
for 28 years. She retired after 11 years in the Franciscan Health System.
She and her sister, Hilda, never married but have 17 nieces and nephews to keep them
busy. They both stay active by traveling and going to water aerobics every
day except Sundays.
Her father, a Hungarian immigrant who only finished sixth grade, stressed
education as a top priority for his five children. So
Anna Thernes made sure to get a good one.
After Catholic school on the
west side of Cincinnati, where she and Hilda have lived all
their lives, Anna went to nursing school at the College of Mount St. Joseph.
During her sophomore and junior years, she did her clinical training at
Good Samaritan Hospital—where experience really was the best teacher.
“I really appreciated it—I felt I got so much out of my time at Good
Sam,” Anna said. “The training, although hard, was excellent.”
In 2002, Anna had knee-replacement surgery at Good Samaritan Hospital,
where the excellent care reminded her of the many lessons she had learned
there. In 2005, she established a charitable gift annuity with Good Samaritan
Hospital Foundation to ultimately benefit the Good Samaritan College of
Nursing Scholarship Program.
A charitable gift annuity can provide
tax benefits now and a lifetime income for the donor and a beneficiary
if desired. A gift annuity is a contract between a donor, such as yourself,
and Good Samaritan Hospital Foundation of Cincinnati, Inc. In exchange
for your gift of cash or securities, Good Samaritan Hospital Foundation
of Cincinnati, Inc. will pay you a fixed income each year for the rest
of your life (or the lives of two people).
A deferred gift annuity is a variation on a gift annuity. A gift
is made and the charitable organization promises in return to pay you
an income stream that begins on a future date you specify. Since the payments
do not begin for a period of time, the fund will grow without withdrawals
until the payments begin. With more money in the fund once payments begin,
the payments will be larger than with a comparably-sized immediate annuity.
A flexible deferred gift annuity allows you to pick a range of dates when the annuity payments will begin. For example, you might choose to begin quarterly payments on March 31st of any year not earlier than 2013 or later than 2018. The payment amount will be based on the year you choose in the future to have payments begin. The charitable gift deduction is based on the earliest possible beginning date (2013 in this case) and is taken in the year of the gift, subject to your tax circumstances.
An attractive benefit of this arrangement is that it enables a donor
to make a gift now and take a charitable income tax deduction now while
in a high tax bracket. Income may be deferred, for instance, until after
retirement, when the rate of tax will presumably be lower. Deferred gift
annuities are creative ways to delay income to pay for children's or grandchildren's
college expenses, supplement your retirement income, or assist with assisted-care
living arrangements that may be inevitable.
A part of each payment, as in any gift annuity, may be tax-free for a
period of years. However, the precise amount of each payment will depend
on the tax rules in effect when the payments start.
Charitable gift annuities are the gifts that keep on giving. Rates on
charitable gift annuities are based on age and whether the contract is
immediate or deferred. If you would like an illustration of this life
income to address your particular situation, please
use our response form to send us the appropriate information.
You may view some specific rates on current gift annuities and consider a generic
example of a charitable gift annuity as well as a graphic
example.
Learn about Charitable Remainder Trusts and meet Barbara and Craig.
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