Charitable Gift Annuity
Are you tired of living life at the mercy of an ever-changing stock or real estate market? A charitable gift annuity can provide you with stability and peace of mind. When you make a gift through the Foundation to the charitable gift annuity, you gain a secure source of fixed payments for life.
Benefits of a Charitable Gift Annuity
- Receive fixed payments to you or another annuitant you designate for life
- Receive a charitable income tax deduction for the charitable gift portion of the annuity
- Benefit from payments that may be partially tax-free
- Extend and empower Kingdom work
How a Charitable Gift Annuity works
A charitable gift annuity is a way to make a gift that supports a Baptist ministry (or ministries). The process of gifting typically follows this model:
- You transfer cash or property to Georgia Baptist Foundation.
- In exchange, we promise to pay you fixed payments for life. Depending on your age, these payments can be comparatively high. A portion of each payment may even be tax-free.
- You will receive a charitable income tax deduction for the gift portion of the annuity.
- We believe you will also be blessed with joy by being an integral part of helping further local and global missions.
If you decide to fund your gift annuity with cash, a significant portion of the annuity payment will be tax-free. By making a gift of appreciated securities to fund a charitable gift annuity, you can avoid a portion of capital gains tax.
Please contact us if you have any inquiries regarding other assets that may be used to fund a charitable gift annuity.
Our goal is to offer you the best, God-honoring solution for your financial legacy. If you have any questions about this or any other giving solution, please feel free to contact us. It would be our privilege to assist you and answer any questions you may have.
Current charitable gift annuity (payments begin within one year). With a current gift annuity, you may transfer cash or property in exchange for our promise to pay you fixed payments beginning as early as this year. You will receive an income tax charitable deduction this year for the value of your gift to the Georgia Baptist Foundation.
Deferred charitable gift annuity (for payments at future date). You may wish to defer receiving payments to a later date such as retirement. With a deferred gift annuity, you establish the gift annuity today, receive a charitable income tax deduction this year, but defer the payments until a designated date sometime in the future. Best of all, because you deferred the payments, your annual payment will be higher when the payments start than they would have been with a current gift annuity.
Flexible deferred charitable gift annuity (gives you flexibility as to when the payments will start). With a flexible deferred gift annuity, you retain the flexibility to decide when the annuity will begin making payments. As with a deferred gift annuity, you establish the annuity today and receive a charitable deduction this year, but the payments are deferred until such time as you elect to begin receiving the payments.