You might be sick of being a victim of the shifting stock and housing markets. A donation to our organization that can guarantee you a steady stream of regular payments for the rest of your life is known as a charitable gift annuity.
Benefits of a charitable gift annuity
- Get set income for the rest of your life to you or another annuitant you choose.
- Get a charitable income tax deduction for the annuity’s charitable donation part.
- Take advantage of contributions that may be partially tax-free
- Your donation will help Choices continue its essential mission.
How a charitable gift annuity works
An effective approach to donate to Choices is through a charitable gift annuity.
- You donate money or assets to the Choices.
- In return, we agree to provide you with recurring payments for the rest of your life. Depending on your age, the payout might be pretty considerable, and it’s possible that some of it is even tax-free.
- The donation component of the annuity will qualify as a charitable income tax deduction for you.
- Additionally, you feel good knowing that you’re contributing to the success of our goal.
The gift annuity payment will be tax-free to a great extent if you elect to finance it with cash. You can also give valued securities to finance a gift annuity and partially avoid capital gains tax by doing so. If you have any additional assets that you think you could utilize to support a charitable donation annuity, please get in touch with us.
Annuity for current charitable gifts (payments begin within one year). A current gift annuity allows you to transfer money or assets in exchange for our guarantee to start making fixed payments to you this year. This year, the value of your donation to Choices will qualify as a charitable deduction for income tax purposes.
Deferred charitable gift annuity (for payments at future date). It’s possible that you won’t be ready to start receiving payments until after you retire, for instance. A delayed gift annuity allows you to establish the gift annuity now, claim a charitable income tax deduction this year, and postpone the payments until a future date. The best part is that because you delayed the payments, your yearly payout will be larger than it would have been with a current gift annuity when the payments begin.
Flexible deferred charitable gift annuity (gives you flexibility as to when the payments will start). you maintain the freedom to select the starting date for the annuity’s payments. The payments are postponed until you want to start receiving them, much like with a deferred gift annuity, which you establish today and obtain a charitable deduction for this year.
Please get in touch with us if you have any inquiries concerning charity gift annuities. We would be pleased to help you and respond to your inquiries.