The charitable gift annuity: “The best thing since sliced bread!”
Marvin and Marilyn Hoepken first learned about the benefits of a charitable gift annuity (CGA) through American Cancer Society mailings: a tax deduction, quarterly annuity payments for life, and a final gift to charity after the Lord takes you to heaven.
Marvin talked to his pastor, Don Patterson, about using a CGA to support WELS ministry, and Pastor Patterson contacted their local WELS Christian giving counselor for help. After speaking to the giving counselor, Marvin was very pleased with the payment rate he’d receive as an 85-year-old, saying, “This is the best thing since sliced bread!”
Ultimately the Hoepkens’ CGA will support WELS Christian Aid and Relief, Martin Luther College, Wisconsin Lutheran Seminary, and their home congregation, Holy Word in Austin, Texas. But Marvin’s favorite part (besides the great rate) is that, instead of taking the quarterly annuity payments, he can give those away as well.
“With a CGA the quarterly distributions can go to whomever you want them to go to,” he explained. “So you can already give things away while you’re still alive.” The Hoepkens plan to use the payments to provide financial assistance to students preparing for ministry (like Martin Luther College students, pictured above).
Their pastor shared that the Hoepkens remind him of the Macedonians in 2 Corinthians 8: “They gave themselves first to the Lord and then begged for an opportunity to share in this work. Because they live for Jesus, it was easy for them to decide to share their blessings with gospel ministries after they find their place in heaven.”
You can fund a gift annuity for yourself, a loved one, or a friend. And you can direct the remainder of the gift to your church, school, synod, area Lutheran high school, or other WELS-affiliated ministry.
To determine whether a charitable gift annuity could be a good way for you to support the ministry or ministries that you love, you can run a personalized gift illustration.
For personal guidance—whether you’d just like to learn more or move forward with setting up a CGA—call WELS Ministry of Christian Giving at 800-827-5482, or e-mail [email protected].
