Often we hear of people frustrated because they would like to make a charitable gift but they are concerned about their income. The conversation usually goes something like this: "I would love to be able to help my church reach their campaign goals, but I’ve got to consider my future needs as well.  I’m worried about out-living my money." They are often surprised to learn it is possible to make a gift and enhance their annual income.

A charitable gift annuity provides the opportunity to make an immediate gift* to benefit the donor’s chosen charitable beneficiary and also receive lifetime income. The Foundation’s gift annuity program is attractive in that the charitable beneficiary will receive the gift now; previously the program was designed so the gift was not distributed to the charitable beneficiary until after the donor’s lifetime.

In exchange for an irrevocable gift, the Foudnation will pay a lifetime fixed payment based on the age of the annuitant and the date the payments will begin.  The payments are calculated using a rate table recommended by the American Council on Gift Annuities.

In most cases, the donor is able to claim a portion of the gift as a charitable contribution, and also receive favorable tax treatment of the gift annuity payment.  These two features of this gift plan are most appealing. 

A charitable gift annuity may also be established to pay lifetime income for another person, for example, a parent or other loved one.  For younger donors who may want to receive income at a later date (retirement, perhaps), a deferred gift annuity is an option.

For more information about how you can provide support now and receive lifetime income, contact Pat Ohlmann at 800-858-6127, option 2 or email jpo@fdn.pcusa.rg.  You may also visit www.PresbyterianFoundation.org to learn more.

*The Presbyterian Foudnation may, in its sole discretion, reinsure a charitable gift annuity.  If it does so, the present value of the charitable remainder will be paid to the beneficiary immediately.  If the Foundation does not reinsure a particular charitable gift annuity, the charitable remainder will be paid at the end of the last annuitant’s life.