Charitable Gift Annuity
You may be tired of living at the mercy of the fluctuating stock and real estate markets. A charitable gift annuity is a gift made to our organization that can provide you with a secure source of fixed payments for life.
Benefits of a charitable gift annuity
- You may receive fixed payments to you and another annuitant you designate for life
- You may receive a charitable income tax deduction for the charitable gift portion of the annuity
- Benefit from payments that may be partially tax-free
- Further the charitable work of LifeSpan with your gift
How a charitable gift annuity works
A charitable gift annuity is a way to make a gift to support LifeSpan.
- You transfer cash or securities to LifeSpan.
- In exchange, we promise to pay fixed payments to named annuitant(s) for their lifetime. A portion of each payment may even be tax-free.
- You will receive a charitable income tax deduction for the gift portion of the annuity.
- You also receive satisfaction, knowing that you will be helping further our mission.
- Mininum gift amount is $10,000; minimum age is 60.
If you decide to fund your gift annuity with cash, a portion of the annuity payment will be tax-free. You may also make a gift of appreciated securities to fund a gift annuity and you could avoid a portion of the capital gains tax. Please contact us to inquire about other assets that you might be able to use to fund a charitable gift annuity.
If you have any questions about charitable gift annuities, please contact us. We would be happy to assist you and answer your questions.
Current charitable gift annuity (payments begin as early as this year). With a current gift annuity, you may transfer cash or securities in exchange for our promise to pay you fixed payments beginning as early as this year. You will receive an income tax charitable deduction this year for a portion of your gift to LifeSpan.
Deferred charitable gift annuity (for payments at future date). Perhaps you are not ready to begin receiving payments until a future date, such as when you retire. With a deferred gift annuity, you establish the gift annuity today, receive a charitable income tax deduction this year, but defer the payments until a designated date sometime in the future. Best of all, because you deferred the payments, your annual payment will be higher when the payments start than they would have been with a current gift annuity.
Flexible deferred charitable gift annuity (gives you flexibility as to when the payments will start). With a flexible deferred gift annuity, you retain the flexibility to decide when the annuity will begin making payments. As with a deferred gift annuity, you establish the annuity today and receive a charitable deduction this year, but the payments are deferred until such time as you elect to begin receiving the payments.