Establishing a charitable gift annuity is smart, rewarding and simple! In just five steps, you can create a gift that will provide for your future as well as ours. Step 1: Finalize your charitable goals. Think about your goals for our future and then determine what you wish to support. You may either restrict your gift to benefit a particular program or leave the gift unrestricted, allowing our governing board to use your gift for our most pressing needs.Step 2: Determine which asset to donate. You can fund your gift annuity with cash, stocks or another asset. When making your decision, consider the asset's fair market value and cost basis. Also, compare the asset's income to the proposed gift annuity payments. Step 3: State who should receive the payments. Gift annuities make lifetime payments you can never outlive. You can also provide payments for another individual—typically your spouse, but could also be a parent, other family member or friend.
Step 4: Decide your payment date. Your payments may begin immediately, or you can defer your payments into the future, such as five or 10 years from now. Deferring your payments benefits you by increasing your annual payout as well as your income tax deduction. You must also decide if you want to receive your payments quarterly, semiannually or annually.Step 5: Complete the paperwork. Contact us to finalize your plans. We can meet with you and help you complete the simple contract that puts your generous plans into action.
Additional Considerations Keep in mind that your donation is irrevocable, meaning that you cannot change your mind once you complete the gift. Also, there may be minimums associated with this type of gift. Please contact Tim Enstice at 757-962-8213 or firstname.lastname@example.org before making such an arrangement. We're happy to answer your questions, without obligation.
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