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Charitable Gift Annuities – the Gift that Gives Back!

Interest rates moved higher this year which could present an opportunity for you. How does 6.6% sound? That’s the rate of return a 75-year-old earns on a Charitable Gift Annuity (CGA).

For example, a donation of $10,000 allows you to receive a tax deduction and lifetime annual payments of $660 – with $439 of the payment tax free for the first 15 years.

Additional tax benefits and lifetime income benefits include:
  • The annuity rate will not be affected by future rate changes.
  • Giving low-yielding stocks or securities avoids a portion of capital gains typically due with a sale. Remaining tax can be spread over many years.
  • The donor receives a tax deduction for the gift.
  • A portion of the annual annuity income is exempt from taxes.

A Charitable Gift Annuity can be created with little effort. We recommend that you consult your financial planner for advice on your situation. Contact Kristen Jones at KrJones@ohiomasonichome.org or 330-636-0476 for a personalized illustration and more information about how this could be the right giving method for you.

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