Make a Gift That Pays You Income for Life
Charitable Gift Annuities allow you to support CCSA Foundation and feel confident that you have dependable income in your retirement years.
This type of donation can provide you with regular payments and allow us to further our work. You can also qualify for a variety of tax benefits, including a federal income tax charitable deduction when you itemize.
How It Works
You make a contribution to CCSA in the form of cash or securities, and we agree to pay you, or someone you name, fixed payments for the rest of your life starting at any date you select that is at least one year from now.
Payments are based on your age on the date of the gift. The older the annuitant and the longer the deferral, the higher the rate of the annual annuity payments.
After your lifetime, the remaining balance of your gift supports our mission. Some advantages to a Charitable Gift Annuity include:
- A partial charitable deduction, when you itemize
- Payments for life (starting now or deferred)
- Capital gains income reportable over your life expectancy
Michael, 55, gives us $40,000 in appreciated stock that he has owned longer than one year in exchange for a deferred gift annuity that will begin making payments 10 years from now. His cost basis in the stock is $10,000. Using the suggested rates, Michael's deferred annuity will pay at an annual rate of 5.5%, or $2,200. His federal income tax charitable deduction will be approximately $12,515.* If Michael is in the 32% income tax bracket, this charitable deduction will result in a tax savings of $4,005.
*Based on a 1.2% percent charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.