Charitable Gift Annuity
Are you looking for a secure source of fixed income for now or your future? You may be tired of living at the mercy of the fluctuating stock and real estate markets. One solution is a charitable gift annuity.
How it Works
A charitable gift annuity is a contract between you and The United Methodist Foundation of Northern Illinois Conference, Inc.
- You transfer property to the Foundation. In exchange we pay you fixed income for life.
- The fixed income can be quite high depending on your age.
- A portion of your income stream may even be tax free.
- You will also receive a charitable deduction in the year you make the gift.
- When you pass away the remaining gift annuity value is given to the church or church-related charity you designated in the original contract.
Types of Assets You May Give
- If you decide to fund your gift annuity with cash, a significant portion of the annuity income will be tax free.
- You may make a gift of your appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax.
Start Receiving Payments Now with a Current Gift Annuity
If you desire current income, you may transfer property in exchange for our promise to pay you fixed income beginning as early as this year. You will receive an income tax charitable deduction this year for the value of your gift.
Deferred Gift Annuity for Income at Future Date
Perhaps you are not ready to begin receiving income until a future date, such as when you retire. You can establish a deferred gift annuity, receive a charitable income tax deduction this year and receive payments at a designated future time. Best of all, because you deferred your payments, your annual payment will be higher than with a current annuity. Contact us about flexible date options for your future income.
Contact us about flexible date options for your future income.