Charitable Gift Annuity
A Charitable Gift Annuity provides a fixed, guaranteed payment for life and a donation to the charity after your death.
The annuity provides an income, plus it saves you income tax and capital gains tax. Plus, you get the satisfaction of knowing your gift will ultimately help your community!
You can also defer the payments but still, collect the income tax deduction. Lower your taxes in your prime earning years and increase your income in retirement.
The commitment by the charity to pay the donor is determined in many cases according to recommended rates adopted by the American Council on Gift Annuities) located in Dallas, Texas. The annuity payment is a fixed payment for life and is made monthly, quarterly, semiannually or annually. The commitment by the charity to pay the annuitant is backed or secured by the assets of the charity. Many state insurance departments now regulate gift annuities, which among other things require maintenance of reserve funds, restrictions on investments of annuity funds and annual reports by the charity. Call Executive Director Paulette Buch Miller at 217-627-2181or e-mail email@example.com for more information.