Charitable Gift Annuity

Support Mission & Receive Lifetime Income

 

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Gift Annuity Application

Arizona Disclosure - for Arizona residents only. Download and complete and return with your gift annuity application.

What are the benefits?
Are there any other considerations?
Please tell me more...

You can make a gift to support your local church, a mission of the General Assembly or other denominational mission or ministry, while you receive a payment for life with a charitable gift annuity. Gift Minimum: $10, 000. Minimum age: 65.

What is a Charitable Gift Annuity?

In exchange for your gift to the Foundation, you will receive payments for life and a portion of your gift will be made available to support a mission or ministry you select after your lifetime.

Sample Charitable Gift Annuity Rates for a Single Life

The annuity payment is based on the annuitant's age the day the gift is made and the amount of your gift. The annuity is paid annually, semi-annually, quarterly, or monthly, as you choose.

Your Age

65

70

75

80

85

90+

% Rate
of Annual
Income

4.7

5.1

5.8

6.8

7.8

9.0

Annuity payments are backed by the full faith and credit of the Presbyterian Foundation. The Foundation may elect to insure the annuity obligation with an insurance company in its sole discretion. Rates effective April 2013 and are subject to change. Gift annuities are not available in Puerto Rico, Hawaii, or New York. A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department.

Sample rates are for a single life. For other rates, effective April 2013, download the Foundation's Gift Annuity Rate Table.

Example of a Gift Annuity

As a donor, age 80 you give $10,000 for a charitable gift annuity. The annuity rated based on your age is 6.8%. You will receive $680 annually, $573 of which will be tax-free for 9.4 years. In addition, you potentially can claim a charitable deduction of $4,606 for your gift.

What are the Benefits?

Charitable gift annuities offer many benefits, including potential tax benefits and the personal satisfaction that comes with good stewardship.

  • The annuity income will be paid for your lifetime and never decrease.
  • In most cases, part of each annuity payment is income tax-free, increasing the spendable amount for you.
  • You may qualify for a federal income tax charitable contribution deduction, further reducing your income tax liability and the cost of your gift.
  • You provide support to the Presbyterian mission you select.

Are there other considerations?

  • It's important to know that your contribution to the Foundation to support the Church's mission is an irrevocable gift.
  • Once a gift annuity is established, the amount of the annuity payment will never vary, though the cost of living may increase. A gift annuity can be written to pay you alone, you and your spouse, or it may pay any two persons you select. Payments can be made to one for life, then to the survivor for life – or payments can be made jointly and then to the survivor. The annuity rates for a two –life annuity are lower than for one life, due to the expected longer payment period. For rates, download the Rate table.
  • You may also obtain a deferred gift annuity which allows you to defer the annuity payments to a later date, such as during retirement. These rates are higher than non-deferred annuities. Use the Gift Calculator to determine the deferred gift annuity rate.

Please tell me more…

When considering charitable giving, you should talk with your tax, legal or financial advisor. The Presbyterian Foundation does not render legal, tax or other professional advisory services. As a charitable vehicle, a charitable gift annuity should not be treated as, and is not intended to compete with investments made for private gain.

The Foundation can provide you with an illustration of a gift annuity. Based upon your age and the amount of the gift, the illustration will include the annuity payment you will receive with the tax-free portion indicated and the charitable tax deduction that may be allowed. Request an illustration for your situation or to understand the amount your charitable beneficiary would receive: online, Contact us, or call 800-858-6127 ext 3041.

 

 

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