Charitable Gift Annuity
If you are tired of living at the mercy of the fluctuating stock market, real estate market or even low CD rates, one solution that might work for you is a Charitable Gift Annuity (CGA).
Basically, a charitable gift annuity is a legal contract between you and Boys & Girls Clubs that guarantees you a fixed income stream for life. Typically, the minimum contribution to start a CGA is $10,000 and you must be 60 years old before payments can begin.
A Charitable Gift Annuity can be funded through a cash contribution or appreciated securities/properties. Based on how the CGA is funded, you may qualify for an immediate charitable tax deduction or avoid capital gains tax on the sale of appreciated properties. A portion of the fixed payment you receive may also be tax-free based upon how the CGA was funded.
Deferred Charitable Gift Annuity
A ‘deferred’ Charitable Gift Annuity can be established at any age with payments starting at a more needed time like retirement age.
How are rates determined for Charitable Gift Annuities?
The American Council on Gift Annuities (ACGA) reviews and sets the rates that most charities use in issuing charitable gift annuities. The older a person is, the higher rate of return he/she will receive for their CGA. Also, whether the CGA is for one person vs. two people, i.e., a couple, will affect the rate of return.
Here are more details about Charitable Gift Annuities.
Boys & Girls Clubs of Central Florida does not provide tax, legal or financial advice. These materials have been prepared for informational purposes only, and are not intended to provide, and should not be relied on for tax, legal or financial advice. You should consult your own tax, legal and financial advisors before engaging in any transaction.
Stocks (Securities)
IRA Charitable Rollover
Donor Advised Funds
Real Estate
Bequests
Life Insurance
Retirement Funds
Gifts that Pay You Income
Ways to Give Smarter
Good vs. Bad Assets
Request our Free Estate Planning Guide
Because our organization believes so strongly in the importance of you having a Will that honors your wishes and protect your family, we have a FREE Estate Planning Guide that we will send you. The guide is a thorough step-by-step review of things to consider when creating your estate plan. It will save you valuable time and resources by helping prepare important documents and information before meeting with your professional advisors.
Simply send your email or physical mailing address to Sarah Johnston at sjohnston@bgccf.org and request your copy.
Contact Us
For any questions, details and more information about Planned Giving, please contact Sarah Johnston, Chief Development Officer, at sjohnston bgccf.org or 407-841-6855.
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