What is a charitable gift annuity?
A gift annuity is a gift and a promise – a gift from you to the VNA & Hospice Foundation in return for the Foundation's promise to pay you or someone you choose a fixed income for life.
For example, Jack Donor wishes to honor his wife, Jill, on her 80th birthday by donating $10,000 to the VNA & Hospice Foundation through a charitable gift annuity. Jill will receive 8%, or $800 a year for the rest of her life, regardless of market conditions. Jack and Jill also benefit from potential income and estate tax savings and the knowledge that they have made a significant contribution to the VNA & Hospice Foundation.
Who is eligible to do an annuity with the VNA & Hospice Foundation?
Anyone! But the beneficiary, or annuitant, must be at least 60 years of age (55 for deferred annuities). The beneficiary can be yourself, you and your spouse or another person that you choose.
What rate would I receive?
Your rate is determined by the age of the annuitant(s) and remains fixed, regardless of market conditions, for the lifetime of the annuitant(s).
What is the minimum amount for a charitable gift annuity?
The VNA & Hospice Foundation offers charitable gift annuities of $10,000 or more. Additional annuities can be arranged at a later time.
Do I get a tax deduction for my charitable gift annuity?
Yes, annuities provide a partial tax deduction, plus part of the income is tax-free for a given number of years, making your effective rate much higher.
Can I give stock as my charitable gift annuity donation?
Yes, annuities can be funded with stock, allowing potential capital gains tax savings for appreciated securities.
How do I receive payments?
Payments are quarterly, either by check or direct deposit.
For more information about charitable gift annuities, contact Kerry Bartlett at (772) 978-5580.
