IMPACT GIVING: Charitable Gift Annuities
This creative tool allows a donor to give a lump sum gift to Grace of Christ Church in exchange for a guaranteed life income for the donor or for another named person of the donor’s choice. The amount of the income and tax deduction is based upon the amount of the gift, the age of the income recipient(s), and interest rates available at the time of the gift.
- Provides a guaranteed income payment for life.
- Potential charitable tax deduction in the year the gift is made.
- Upon death of the annuitant (income recipient), Grace of Christ Church retains a portion of the original gift for support of various ministries.
- The donor can delay the start of the income stream, if desired, to meet future cash flow needs through a Deferred Payment Gift Annuity.
- A donor, age 75, gives $20,000 for a Charitable Gift Annuity. If the annuity rate was 8% based upon the donor’s age, income of $1,600 annually would go to the donor, part of which would be a tax-free return of principal.
Please contact your financial advisor to determine how comparable figures would apply based on your particular case.