Charitable Gift Annuities
A Charitable Gift Annuity Allows You to Give and Receive
A charitable gift annuity is an irrevocable gift, but provides fixed income for your lifetime. It’s a popular way to provide current income and gift for the work of the Lord. And, if you itemize income tax deductions, you may claim a charitable contribution for a portion of your gift, thus reducing your income tax liability. Your gift will support the ministry you select, to create a lasting legacy of your faith and values.
The following table shows an example of charitable gift annuity rates:
These rates were effective July 2018 and are subject to change.
Your Age
60
70
80
90
Annuity Rate
4.7%
5.6 %
7.3%
9.5%
Your Age
Annuity Rate
60
4.7%
70
5.6 %
80
7.3%
90
9.5%
- You may give cash or marketable securities for the gift annuity. If you give appreciated securities for your annuity, realized capital gains are reduced and are reported over your lifetime.
- Payments will begin after the gift has been made or may be deferred until a future year.
- Payments may be monthly, quarterly, semi-annually, or annually.
- A gift annuity may pay one person, two people jointly with the payment continuing to the survivor, or one person for life, then a second person.
- Your gift may be added to a permanent endowment fund providing perpetual income to a Christian entity, or may be used to create a new permanent endowment fund.
- Payments are backed by the full faith and credit of the Presbyterian Foundation. They will be re-insured by Mutual of Omaha. They are not backed by any government agency. Sample rates are for a single life.
- Minimum investment for a Charitable Gift Annuity is $10,000.
- It is important that you realize that a gift to a Charitable Gift Annuity is irrevocable, and that once the annuity is established the rate will never vary, even if the cost of living increases.
- When considering charitable giving, you should talk with your tax, legal or financial advisor. Grace Commons Foundation does not render legal, tax or other professional advisory services. As a charitable vehicle, a charitable gift annuity should not be treated as, and is not intended to compete with investments made for private gain.
The Grace Commons Foundation is proud to be a member of the Evangelical Council for Financial Accountability. The ECFA’s Standards of Responsible Stewardship focus on board governance, financial transparency, integrity in fund-raising, and proper use of charity resources.