A Charitable Gift Annuity is a contract with The Catholic Foundation that provides you with fixed income payments for life, no matter how long you live. Payment rates are based on age and are set by the American Council of Gift Annuities. At the end of your life, the remainder of the annuity becomes an endowment fund to benefit the specific organization you designate. You also have the ability to choose a Deferred Charitable Gift Annuity, meaning that you start receiving income payments at a later date.
- Fixed income for life for you, or for you and a spouse (paid monthly, quarterly or annually)
- Avoid capital gains taxes on highly appreciated assets
- Income tax deduction in the year the annuity is established
- Part of each income payment is tax-free
Additional Benefits for Deferred Charitable Gift Annuity
- Allows charitable gift to grow tax-free, prior to receiving income payments
- Typically receive a higher payment rate than a standard Charitable Gift Annuity