For Donors, Ages 50+
The Charitable Gift Annuity is a simple contract between donors who are at least 50 years of age and Youth In Need. It is the gift that gives back and is a very popular financial plan for several reasons. It requires only a modest contribution ($5,000 minimum) and can be funded with cash or securities. The donor receives an immediate charitable income tax deduction, can reduce capital gains tax liability, and often increases disposable income by receiving a higher interest rate. The gift annuity rate is a standard rate set by the American Council on Gift Annuities. The donor can elect to receive payments quarterly, semi-annually or annually.
The Deferred Charitable Gift Annuity is a great plan for donors who are 50 years of age or older and wish to receive an immediate charitable tax deduction and defer annuity payments until later, perhaps retirement, when most donors are in a lower tax bracket.
With a Charitable Gift Annuity or Deferred Charitable Gift Annuity the donor’s gift immediately becomes the property of Youth In Need and in exchange, the donor receives guaranteed income payments, based on age, for his, her or their lives. The minimum age to participate is 50 and the minimum contribution is $5,000. The income payments can begin immediately or may be deferred for a period of time determined by the donor. Contracts are limited to two lives and additions may not be made to an existing contract.
Frank and Charline Martinez, founding members of Youth In Need’s Legacy Society, share their story of how easy it was to set up a Charitable Gift Annuity and how it is helping them create their own legacy.
To leave a legacy for future generations, contact Rob Muschany, Chief Development Officer, at 636-757-9348, or contact your money manager.