Charitable Gift Annuity

Make a gift, receive payments for life

A gift annuity is an agreement between you and us. When a charitable gift annuity is in place, we agree to pay you fixed payments for your life (and/or the life of your chosen beneficiary). The amount of the annuity is based on the gift amount and age of the annuitant(s) at the time of the gift.

A gift annuity can be established with a modest contribution and provides a number of very attractive benefits. You can:

• Fund it with cash or marketable securities.
• Qualify for an immediate income tax charitable deduction for the gift (subject to limitations).
• Potentially spread out any capital gains tax liability.

What’s more, part of your annuity payment may be free of federal income tax for a certain number of years. As a donor, you can select the payment intervals (usually quarterly or annually) and name one or two people as the annuitant(s).

Those who frequently max out their annual retirement plan contributions may want to consider a deferred gift annuity strategy. Deferred gift annuities start payments at least one year after creation and offer three important benefits:

1. They can be used to supplement qualified retirement plan savings.
2. You qualify for a current income tax deduction now during your high-income years.
3. You can postpone the start of annuity payments until later—usually after retirement begins.

Now is a great time to consider this giving option as gift annuity rates are the highest they’ve been in years.

Sample one-life gift annuity rates, effective since January 2024

For more information about charitable gift annuities contact us.