Giving is not only an important way to support the ministry and mission God gave the church, but it is also an essential part of our growth as followers of God. To aid in that growth, there are many opportunities and options available when thinking about making a planned gift; one great option to consider is creating a charitable gift annuity.
The return rates of charitable gift annuities will be increasing as of July 1, 2018, which highlights them as an even better option to consider for both you and the others who will benefit from it.
Gift annuities are created with a permanent transfer of cash or property and can be set up to provide payments to one or two people. Married couples can even create a gift annuity that will provide for them while they are living and continues to support the surviving spouse after the other’s death. With the new 2018 rates, the payments received will increase making these gifts a great option starting in July.
Benefits of a Charitable Gift Annuity
- Designate future support for your United Methodist church or other charities, programs, or institutions
- Receive a current income tax deduction
- Receive annuity payments for life with a portion being tax free
- Avoid a portion of capital gains tax when funding a gift annuity with appreciated stock
- Receive rates, determined by your age, when the gift is created; these rates will not change
- Increase present cash flow depending on your age
If you would like a free personalized illustration of the payout and tax benefits for a charitable gift annuity, email us.