A charitable gift annuity allows you to make a tax-deductible donation to Maranatha, and in exchange we agree to make fixed-dollar payments to you or your designated beneficiary. This income, provided monthly or quarterly, is guaranteed by Maranatha’s assets and will continue for the lifetime of the beneficiary.
Depending on the age of the recipient, the amount of the annuity payment will vary. For younger donors, the annuity rate will be lower than someone who is starting later in life. For example, a person receiving annuity payments at age 50 will receive a lower rate than a beneficiary who is 68 years old.
Gift annuities can begin immediately or be deferred for those who want a charitable income tax-deduction but do not need the annuity income. The annuity payments can also be assigned to more than one person, such as a spouse.
Gift annuities can be cash or other assets.
How It Works
Evelyn, age 50, recently inherited $10,000 from the sale of her parents’ estate. She currently does not need the cash and wants to invest it in a way that will not only help her during retirement, but also help her favorite non-profit: Maranatha. She decided to establish a deferred payment charitable gift annuity with Maranatha.
Evelyn will receive a healthy charitable income tax deduction, which helps her now. And when she turns 65, she will begin receiving an annual annuity (calculated by years deferred, amount, and age). A portion of this income will be tax-free.
- You will qualify for a federal income tax deduction.
- Your estate may benefit from reduced probate costs and estate taxes.