Charitable Gift Annuity
Are you looking for a secure source of fixed income for now or your future? You can stabilize your income from the fluctuating stock and real estate markets by considering a charitable gift annuity.
How it Works
A charitable gift annuity is a contract between you and The Community Foundation.
- You transfer property to us, and in exchange, we pay you a fixed income for life.
- The fixed income can be quite high depending on your age.
- A portion of your income stream may even be tax-free.
- You will receive a charitable deduction for your gift of the remainder to us and the satisfaction of knowing you are supporting our community.
Types of Assets You May Give
- If you decide to fund your gift annuity with cash, a significant portion of the annuity income will be tax-free.
- You may make a gift of your appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax.
Start Receiving Payments Now with a Current Gift Annuity
If you are 65 or older and desire income now, you may transfer property that will begin paying you a fixed income right away. You will receive an income tax charitable deduction for the value of your gift.
Deferred Gift Annuity for Income at Future Date
Perhaps you are not ready to begin receiving income until a future date, such as when you retire. You can establish a deferred gift annuity, receive a current charitable income tax deduction and receive payments at a designated future time. Best of all, because you deferred your payments, your annual payment will be higher than with a current annuity. Click here to learn more about Charitable Gift Annuities.
Contact us about flexible date options for your future income.