Charitable Gift Annuities enable you to give and receive! You have probably heard the old saying “the only two things we can be sure of in life are death and taxes”. For those of us who are Christians, death is probably the least intimidating of the two!
Charitable Gift Annuities
Things like planning for retirement and estate planning can be complex and confusing issues, which generally require guidance from CPA’s or attorneys. And, figuring out how to make the most of the money you have earned can be quite a challenge.
For many age 60 and above, one of the best ways to support ministry, reduce taxes, and earn an excellent rate of return on your money is through the establishment of a charitable gift annuity (CGA). A CGA can be funded with a gift of cash, securities, or practically any other kind of property. In exchange for your gift, you receive fixed payments for life. In addition to the above average income from the gift, there are a number of tax advantages. When the CGA is established, donors may deduct the charitable gift portion of the annuity, and part of each check a donor receives is regarded as a tax-free return of principal.
It may be that a charitable gift annuity fits your financial plans. To find out, you may want to call your tax advisor. You are also welcome to call the stewardship office of Your Network of Praise at (800) 601-1848 for more detailed information.