Charitable Gift Annuities

By -
A charitable gift annuity (CGA) is a way to make a gift to support the causes that you care about. You make a gift of cash or property to us. In return, we will make payments for life to you, you and a loved one, or another person.

Each payment will be fixed and the amount of each payment will depend on the age of the person who receives the payments.


FUNDING A CGA IS SIMPLE
  • Write a check
  • Use a credit card
  • Transfer stock


WE WILL PROVIDE YOU A DETAILED ILLUSTRATION SHOWING:
  • Your personal payment rate
  • Your income tax deduction for this year
  • Your capital gains tax savings
  • After all payments have been made, we will receive the remaining value of your gift to support the causes that matter to you.

Perhaps you like the idea of a charitable gift annuity, but you want an even higher rate than the one designated for your age. You do have options especially if you are just starting to think about your retirement, or are already retired and can wait awhile for your gift annuity to begin.

A deferred gift annuity (DGA) is exactly like a charitable gift annuity except you must wait a few years for the first payment. The longer you wait, the higher the payment rate will be, even if you are funding one for two people, not just yourself.

The deferred gift annuity also features a fixed payment rate and tax benefits, but the income tax deduction is generally higher for a deferred gift annuity than a charitable gift annuity.

HERE’S THE STORY OF A FRIEND WHO DISCOVERED THE SECURITY OF A CHARITABLE GIFT ANNUITY


Many years ago, Clara bought a home. Since she was very pleased with the home, she decided to buy stock in the company that built and sold her home.

Over the years, the stock has increased in value many times.

Clara: This stock was a good investment. Because I was a happy homeowner, I purchased the shares of stock in this home builder. While the stock has gone up in value several times, I am now tired of guessing the market.

I think it would be much better to have a good fixed return and not worry about the stock markets.

Clara called us and discovered that she could receive a payment based upon her age. This fixed payment was in addition to a large income tax deduction. Clara decided to transfer $10,000 of appreciated stock to our organization.

Clara: I am delighted with my charitable gift annuity. I received a good payment and saved over $1,500 in income taxes. This plan has been great. Best of all, I no longer have to watch the markets go up and down. I now have peace of mind.

You too can have peace of mind by calling Senior Development Officer, Caryl Turnow at 218.759.2057 to learn more about the next step to take!


Comments

Post a Comment

Popular posts from this blog

Frank and Marg Marvin

By -
Image
In honor of NMF's upcoming 30th anniversary and National Philanthropy Month, we want to celebrate the contributions of our donors! We will be highlighting a donor a day for the month of November. Please be sure to check the blog often to read about the wonderful stories of giving back to the northwest region.  If you are interested in making a difference through the services of our community foundation, our development officers would be happy to assist you. Please contact Caryl Turnow or Lisa Peterson at 218-759-2057 to learn more. Frank and Marg Marvin, Warroad The year is 1931 and a frustrated Dorrance Johnston has a degree in Engineering with no jobs to be found. Persistent and not willing to give up, he offered to work for a year without pay just to get a foot in the door. This is a mere glimpse at who Margaret “Marg” (Johnston) Marvin’s father was. Marg was born and raised in Warroad, and then met her husband Frank Marvin in their shared hometown. Both of their f
Read more

NMF Working to Address the Region's Child Care Needs

By -
Image
Ensuring families have access to quality child care is a high priority task for NMF. Our region has the third largest deficit for child care needs in the state. We are faced with 41% of families not having access to child care spots for their children. This means 41% of families are struggling to find safe and affordable child care for their children so they can go to work. The Center for Rural Policy and Development recently published a fact sheet that provides insight on this issue. The main barriers that they pointed out were the following: Until more can be done to increase wages and/or profits for both center and family providers, the child care shortage will continue Low pay for workforce makes recruitment and retention a major hurdle. Providers feel they can't raise rates because parents can't afford to pay more. Under this scenario, providers can't make a profit or be sustainable. The high startup costs make for very high barriers to entry for the av
Read more

Peacemaker Resources Paves the Way for Lifelong Learning in the Classroom

By -
Image
(Left to right) Caige Jambor, Sharleen Zeman-Sperle, and Stacy Bender-Fayette, SEL Specialists at Peacemaker Resources, work together to plan the upcoming school year. The mission of  Peacemaker Resources  is to "foster communication, compassion and connection leading to respectful relationships and healthier individuals and communities" and they achieve this by bringing their  social emotional learning  curriculum to elementary and middle schools around the state. They were also a recipient of the  NMF Quality of Place award in 2016 .  What makes their curriculum distinctive?   Barb   Houg, Executive Director, says,  " Its preventative approach, its relevance for children of all ages, and its lifelong impact." The curriculum that Peacemaker Resources is bringing into schools includes a number of programs -  STAR (Students Teaching Attitudes of Respect) ,  Girls Lead ,  Cultural Responsiveness ,  SEL (Social Emotional Learning) ,  Mindfulness , and  Tr
Read more