Take advantage of new Charitable Gift Annuity rates

Gifts to our community – that pay you back for life!

Exciting news! For the first time since 2012, the American Council on Gift Annuities has increased the suggested maximum payout rates for Charitable Gift Annuities. Effective July 1, the rates have raised by 0.30% to 0.50% for most ages.

There’s never been a better time to make a gift to support a cause you care about most through the Community Foundation while generating retirement income for yourself and/or your loved ones.

What is a Charitable Gift Annuity?

A charitable gift annuity (CGA) is a gift made to a nonprofit organization that can provide you with a secure source of fixed payments for life.

How does it work?

You make a one-time gift to the Community Foundation, and we agree to pay you a fixed amount every year for your lifetime. You can also choose to name up to two people you love to receive the annuity payments. The older you are, the better the payment rate. After your lifetime, any unused gift amount will go to the Community Foundation.

How do I benefit?

  • You make a significant gift to the community without compromising your financial security.
  • Fixed income payments are free from market volatility with rates superior to standard long-term accounts.
  • You receive a charitable tax deduction for the one-time gift you make and typically a portion of the annuity payments are tax-free.
  • If you make a gift of appreciated securities to fund your annuity, you can avoid a portion of the capital gains tax.

How do I get started?

The Community Foundation offers current CGA life income to beneficiaries of age 60 and older. A deferred CGA can be established as early as age 55. You can start a CGA today with a gift of $10,000 or more.

Download CGA Brochure

We would love to talk with you about how CGAs can help you accomplish your charitable and income goals. For a personalized illustration of how a CGA can benefit you and our community, contact Meagan Niese at 812-333-9016 or meaganniese@cfbmc.org.

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On July 1st, 2018, posted in: News by

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