Over the years, a number of individuals have supported the United Church Board for Ministerial Assistance by creating charitable gift annuities.
If you would like to support the mission of Ministerial Assistance and receive steady payments during your retirement years, a charitable gift annuity might be right for you.
It’s easy to establish. You can fund a charitable gift annuity by donating cash or stock. In return, you receive a fixed amount each year for the rest of your life. Upon your death, the remaining amount of the gift annuity is placed in the Ministerial Assistance Fund.
The older you are, the larger your annual payments will be, because your lifetime annuity rate is based upon your age at the time the gift annuity is created.
Example: Frances, age 70, establishes a $10,000 charitable gift annuity. Based on her age, she would receive an annuity rate of 5.8 percent. If she were 75 years old, the rate would be 6.4 percent based on current rates. At her death, the remainder of the gift annuity would be placed in the Ministerial Assistance Fund.
In addition to providing a gift that will benefit the work of Ministerial Assistance while receiving fixed payments for the rest of your life, you may also receive the following benefits:
- Your payments are not affected by the fluctuations of the economy–your initial rate continues for your lifetime.
- A part of your initial gift is income tax-deductible.
- Your annuity payments are partially income tax-free.
- A portion of the capital gains tax is usually eliminated if you use appreciated stock to fund your charitable gift annuity.
To learn more, please contact us at 1.800.642.6543, ext. 2718.