You may want to make a substantial charitable gift but feel it is necessary to keep the income from your assets to support yourself during retirement. With a Catholic Community Foundation Charitable Gift Annuity you can receive guaranteed income for life, partly tax-free, at payout rates much higher than current CDs or stock dividends.
A Charitable Gift Annuity is an agreement between you and the Catholic Community Foundation that benefits you both. This type of gift begins with a simple agreement: in exchange for a gift of assets, typically cash or stock, the Foundation promises to pay you a guaranteed lifetime income beginning at age 65. Gift Annuities may provide income to one or two people, and income may be continued after your lifetime to a surviving spouse. The gift annuity may make payments during your lifetime or during the lives of you and your spouse. You will realize significant tax advantages and an immediate charitable tax deduction. In addition, part of the annuity payment may be tax free. If you are younger than 65, you may purchase an annuity periodically in order to build a tax-advantaged retirement plan which begins making payments at age 65. After your lifetime, any remaining funds may become a perpetual endowment in your name to serve a favorite charity.
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