Charitable Gift Annuities
The Gift that Pays You Back!
In return for a gift, we pay you a guaranteed, life-time payment based on your age. The older you are the better the rate, a graduated scale up to 9.0%.
You receive an immediate tax deduction and a percentage of the money we send back to you is tax-free.
When your life (or lives in a two-person annuity) ends, what is remaining in the account goes where you tell us to send it - your local church, to one of the Foundation ministries or to establish a Named Endowment.
In return for a gift, payments are made to the donor based on age.
CGA’s can be for one or two people. The two-life rates are a bit lower, but pay out for both lives – when the first person dies, the surviving person gets the payment until their death. With single-life, the CGA ends with their death.
Upon donor's death(s), whatever is remaining in the account will be directed to the beneficiary – either a ministry or a United Methodist Church.
The donor receives a charitable deduction for a portion of the gift and a portion of the payments are tax-free. These are IRS calculations based on age.
Additions cannot be made to an existing CGA. Additional CGA's may be set up based on the donor's age(s) at that time.
If the beneficiary is a ministry or a United Methodist Church, 90% will to the ministry and 10% to the Foundation. If the beneficiary is an endowment or group endowment, the full value is deposited.
CHECK OUT RATES HERE - American Council of Gift Annuities
Sound interesting? Contact us and we'll send you a free, no obligation proposal!
Charitable Gift Annuity Application and W-4P withholding form