What a great way to support our mission. But that’s not all …
Enjoy a portion of your secure payments tax free for several years.
Get higher payments compared to CDs and savings accounts.
Help others and receive a charitable tax deduction. It’s a win-win.
Here is a simple video that explains how a Charitable Gift Annuity (CGA) works. You will be delighted to learn how easy it is to make a gift and receive guaranteed income for life.
Here is a simple Gift Annuity calculator that easily illustrates your approximate guaranteed payments for life. Try it! Then, contact us for a more detailed illustration.
A Charitable Gift Annuity is right for you if:
When the contract ends, we apply the balance of the gift annuity to support the area of our mission that you chose when you made your gift.
Gift annuities offer attractive tax benefits:
Your gift annuity can start payments once you have made your contribution (an immediate payment gift annuity), or payments can begin at a later date selected by you (a deferred payment gift annuity). Deferral entitles you to a higher annuity rate and a larger charitable deduction.
Most Common Uses
Planning points
Try our gift calculator! It’s fun and educational.
A gift annuity contract becomes a legal financial obligation of Team and is backed by all of our unrestricted assets.
Both have distinct advantages. A gift of cash will produce a larger tax-free portion of the annuity. A gift of stock can increase your income by reducing capital gains cost. Both assets produce an equal annuity rate and charitable income tax deduction.
A charitable gift annuity can only be set up for one or two lives. Certain age restrictions apply. Contact us for more details.
A commercial annuity, typically sold by banks and life insurance companies, will provide the owner with fixed or variable income based on commercial rates of return. These plans establish their annuity payments based on the assumption that all of the assets in the plan will be used up by the end of the income beneficiaries’ lives.
A charitable gift annuity is part guaranteed annuity and part charitable contribution. The donor receives a partial income tax deduction based on the calculated value of the portion of the gift the organization will ultimately receive. A gift annuity establishes its payments on the assumption that there will be something left for the organization at the end of the contract. Often annuity rates for gift annuities cannot compete with the annuity rates of a commercial annuity because of the charitable component in the contracts. But then, there are fewer tax benefits with a commercial annuity, and the amount of your “paycheck” fluctuates with the market.
Yes, you can make a gift now for an annuity contract that will defer your payments to a future date that you decide, typically sometime in your retirement years when you will need the income. In this sense, a deferred payment gift annuity can serve as a type of tax-deferred savings plan that will provide you with guaranteed income in the future. Please contact us for more details.
Notice to residents of South Dakota:
Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota division of insurance.
Notice to residents of Oklahoma:
A charitable gift annuity is not regulated by the Oklahoma Insurance Department nor protected by a guaranty association affiliated with the Oklahoma Insurance Department.