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Planned
Giving
Gift
Annuity Benefits
One of the simplest and most popular charitable gifts is
a charitable gift annuity. This gift option is a combination
of an investment and a gift and provides life income to
the donor (and another recipient if desired - the annuitants).
 The
designated charity accepts the gift and in return obligates
itself to pay a fixed and specified dollar amount to the
annuitant(s) for life.
A
charitable gift annuity immediately becomes the property
of the charity and is an irrevocable gift. The charity is
legally bound to fulfill its commitment to pay the annuitant(s)
for life. Some states have regulations regarding the issuance
of charitable gift annuities. Please contact
us regarding any questions.
There
are two types of charitable gift annuities - immediate and
deferred. An immediate annuity begins paying income immediately
after the annuity agreement is signed. A deferred charitable
gift annuity begins the income payments at a specified date
in the future. A deferred charitable gift annuity will generally
provide a larger charitable deduction than the immediate
annuity and, as the funds will have an opportunity to grow
without income distributions for a period of years, the
income rate will generally be larger.
- As
a portion of the annuity is a gift, you'll receive an
income tax deduction for the gift if you itemize.
- A
portion of the annual annuity income is exempt from Federal
taxes.
- You
may save tax on the capital gain (profit from an investment).
- You
avoid estate taxes, probate, and costs on the amount involved.
- The
charity will have the use of the funds after the beneficiary's
lifetime.
- The
payments are fixed and will not fluctuate with interest
rates.
- Your
annuity is as safe as the organization you invest with,
for the total assets of the organization stand behind
their agreement to make payments to you.
- Generally
the funds used to set up a charitable gift annuity may
be structured as an unrestricted gift or to fund a particular
item or program that is important to you (with the consent
of the charity).
- The
gift annuity is irrevocable.
Return to the Charitable Gift Annuity
story or to the glossary.
Please
note, individual financial circumstances will vary. The
information on this site does not constitute legal or tax
advice. Donor stories and photographs are for purposes of
illustration only. As with all tax and estate planning,
please consult your attorney or estate specialist. All material
is copyrighted and is for viewing purposes only. Use of
this site signifies your agreement with the terms
of use. The content in this Planned Giving section has
been developed for Sisters of Notre Dame de Namur, Ohio
Province by Future
Focus. Please report any problems to section
webmaster. Revised: February 6, 2007 21:16.
©1999-2006,
Sisters of Notre Dame de Namur, Ohio Province 701 East Columbia
Avenue, Cincinnati, OH 45215-3999 513-761-7636 | 513-761-6159
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Weaver. This page was updated: February 6, 2007 21:16
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