Charitable Gift Annuity
Tired of living at the mercy of the fluctuating stock and real estate markets? A charitable gift annuity may be right for you. It is a gift made to our organization that provides a secure source of fixed payments for life.
Benefits of a charitable gift annuity
- Receive fixed payments for life, either to yourself or another annuitant you designate
- 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 mission of Legacy Deo with your gift
How a charitable gift annuity works
- You transfer cash or property to Legacy Deo.
- We issua a contract promising to pay fixed payments for life. The payment can be quite high depending on your age, and 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 the satisfaction of knowing that you will be helping further our mission.
If you fund your gift annuity with cash, a significant portion of the annuity payment will be tax-free. You may also make a gift of appreciated securities to fund a gift annuity and 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 are happy to assist you and answer your questions.
Variations on the charitable gift annuity:
Current charitable gift annuity (payments begin within one year). With a current gift annuity, you may transfer cash or property 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 the value of your gift to Legacy Deo.
Deferred charitable gift annuity (for payments at future date). Perhaps you prefer to recieve payments 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, and defer the payments until a designated date sometime in the future. Best of all, 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. The payments are deferred until such time as you elect to begin receiving them.