Life Income Gifts can be very flexible to help achieve the personal, family, financial and philanthropic goals of the donor. They provide additional financial stability and benefits to the individual or family while helping others.
Charitable Gift Annuities – CGA’s
- Must be 70 years or older – the older you are the higher the interest rate1
- Gift levels – $10,000 and above
- Provide a fixed amount of income for you or a loved one for life
- Interest rate is locked in – NEVER CHANGES
- Provide rates of return that are often higher than could be achieved elsewhere
- Save income taxes NOW
- Unlock income from assets that are producing no or very little income
Ask MVRF for more detail on Charitable Remainder Annuity Trusts (CRAT), Charitable Remainder Unitrusts (CRUT) and Charitable Lead Trusts.
John will be 90 next month. He has been retired for 28 years and lives comfortably in the home he and his late wife, Muriel purchased decades ago. His son and his family live in the neighboring state and they visit when they can. They are busy professionals with no children and doing very well for themselves.
John has been giving religiously to the Macula Vision Research Foundation (MVRF) for the past 5 years. He was so grateful his best friend for 50 years told him about MVRF when John was first diagnosed with AMD back then. He was devastated to hear the news from the doctor and will never forget the day it happened. Luckily, the shots he gets every few months seem to have helped. John believes that research is the answer and he hopes desperately that his son will not suffer from the disease as he has. He is compelled to do more for MVRF, after all, 100% goes to the research. You can’t beat that with a stick! They are a great ROI. He wants to do more.
John has some low producing money market assets and he was thinking about what he could do with them to generate more income for himself, not increase his taxes and be able to give more to MVRF so they can find a cure faster.
He emailed MVRF and set up a Charitable Gift Annuity within a few days. The annuity rate was 9% and John will receive a check for $4,500 from MVRF twice a year until he passes away. This made a whole lot of sense at this time in his life for many reasons.
The best part is – it was the right thing to do and John felt great to be able to make a difference! The idea that he was helping to give the gift of sight to future generations put an immediate smile on his face.