Love Beyond a Lifetime - A Special Mother's Day Gift
Janice recently purchased a charitable gift annuity for her mother, Mildred, for Mother’s Day, presenting it to her as a token of her love and esteem. For Janice, this was a wonderful way to say “thank you” to her mother for all her years of love and support, as well as a way to make a gift in her name to a charity close to her heart. In exchange for an irrevocable gift of cash or marketable securities valued at $10,000 or more, the Diocese agrees to pay Mildred a fixed sum each year for life. Part of each payment is tax free for a period of years, increasing each payment’s after-tax value. Payments are made quarterly. The donor qualifies for a federal income tax deduction in an amount equal to the projected charitable remainder value. The donor or another designated annuitant will receive fixed and guaranteed payments in quarterly installments each year for life. In addition, a portion of each year’s payments may be tax free for a period of years. Mildred appreciates that this gift will eventually transform into a legacy gift made in memory of her family.
Mildred and Janice take great pleasure knowing they have grown an endowment fund that appeals to their philanthropic interests. Leaving a legacy such as this truly transforms and changes lives for countless others.
Why are gift annuities especially attractive at this time?
Current low interest rates, coupled with a volatile stock market, have created an atmosphere within which many donors are choosing to invest in charitable gift annuities. This unique giving vehicle provides guaranteed fixed income, generous rates, as well as a charitable income tax deduction.
To learn more about the benefits of a charitable gift annuity, or other ways of making a planned gift please contact the Alive in Hope Foundation at 718.965.7375.
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