Charitable Gift Annuities
Under this program, a donor makes a contribution of cash or securities to NCCF and, in return, receives an income guaranteed for his or her life.
A charitable gift is a powerful tax-advantaged tool by which donors can support charitable organizations while providing themselves a guaranteed income for life – usually at above market rates.
A charitable gift annuity is a contract between a donor and National Catholic Community Foundation that provides a lifetime of annuity payments to the donor (and survivor or other beneficiary) in exchange for an irrevocable gif of cash, securities or other assets. Generally, the rate of return is favorable, and the payments are guaranteed for life. The charitable gift annuity can be used to create a donor advised fund at NCCF to benefit a specific charity or charities.
Under this program, a donor contributes cash or securities to NCCF and, in return, receives an income guaranteed for life (and the life of a successor annuitant if named). The donor also enjoys certain tax advantages both at the time of the contribution and during a portion of the life of the annuity. Upon the death of the donor/annuitant(s) the remainder in the annuity is distributed to a fund at NCCF designated for the selected charity.
The amount of the annuity depends on two factors: the value of the gift at the outset and the age of the donor. The older the donor is, the higher the payment will be. NCCF applies the rates set by the American Charitable Gift Association. NCCF partners with PG Calc for charitable gift annuity administration and legal compliance and can administer gift annuities in all states except Hawaii.
A charitable gift annuity would be appropriate for anyone:
- Wants to provide income for himself or herself or others
- Wants the security of fixed dependable payments for life
- Want to minimize income taxes or capital gains taxes
- Wants income that may be partially income tax-free
- Is at least 50 years old for a deferred or 60 years old for an immediate annuity