Community Foundation of Madison and Jefferson County Grants Scholarships Madison Indiana

Charitable Gift Annuities

A Charitable Gift Annuity is an irrevocable, simple agreement between the donor and the Foundation. The donor gives cash or stock to the Foundation and receives income payments, guaranteed for life. When the annuitant passes away, the remainder of the annuity goes to an endowment fund established by the donor or to an existing fund at the Foundation.

Why Gift Annuities are a Good Idea

The satisfaction of knowing your charitable interests will be supported forever.
Gift Annuity rates are attractive, typically ranging from 6% to 11% depending on the age of the annuitant at the time the annuity is established.

Age of Annuitant	Annuity Rate
55	5.5%
60	5.7%
70	6.5%
80	8.0%
90	11.3%

A significant portion of a gift to a Gift Annuity may be tax deductible in the year it is established. And part of each payment often is tax-free for the annuitant during his/her life expectancy.
Annuity payments are guaranteed and backed by the assets of the Community Foundation.
The donor's estate may enjoy reduced probate costs and estate taxes.

"Double Duty"

It is possible for two people to get payments from the Annuity.

Providing for Others

If you name someone else as the annuitant, you can make a charitable gift while helping meet the long-term financial needs of a loved one.

How Can I Find Out What Benefits I Would Receive?

Provide the Foundation with the following information and a personalized financial statement showing immediate tax deductions, annual payments and how much of them are taxable and nontaxable will be sent to you:

Amount you are considering giving to the annuity
Date of birth of each beneficiary
Address to which this statement should be sent

Or, contact Louise Markel at the Foundation office at 812-265-3327.

The above is not intended to be used as legal advice. Always consult your lawyer or tax preparer when considering a gift such as this.

go to top | back | home

GIVING — GRANTS — SCHOLARSHIPS
HOME — NEWS — ABOUT US — FAQ'S — LINKS — CONTACT US

Email the webmaster: