What if you could make a charitable gift toward the Lord’s work that would also provide you and/or a loved one with fixed annuity payments for life?
You can! The charitable gift annuity allows those 60 and older to make a gift of cash or securities (stocks, bonds, mutual funds) in exchange for fixed quarterly payments. After you go to heaven, the residual of the gift will be used by your congregation, synod, or another WELS affiliated ministry. The following example illustrates the benefits of a single-life annuity (two-life annuities are also available). It is based on:
- a gift of $10,000 (minimum) in cash
- a payment rate of 5.8 percent for someone who is 75 years old (rates vary based on age)
You may claim a charitable income tax deduction of $4,577 and receive quarterly payments totaling $580 each year for the rest of your life. And $437 of the payments you receive each year will be tax-free during the first 12.4 years. Best of all, after you are taken to heaven, the remainder value of your gift annuity would go to the ministry of your choice!
Many people appreciate the charitable gift annuity for this reason. They benefit from receiving payments while serving their Savior by helping to train pastors and teachers, open missions across the world, and support congregations and schools.
If you are interested, call 800-827-5482 for more information and assistance from a WELS Christian giving counselor.