Charitable Gift Annuities
A Charitable Gift Annuity is a simple contract between a donor and Hope Hospice in which Hope agrees, in exchange for a minimum donation of $10,000, to pay the donor an income for the rest of his or her life.
It is important to understand the difference between a commercial annuity and a charitable gift annuity. In a charitable gift annuity, the donation, or principal, is an irrevocable gift which becomes the property of Hope Hospice upon the death of the donor.
Complete a simple form for a customized illustration of a Charitable Gift Annuity.
Benefits of a Charitable Gift Annuity
1. Attractive Rates
When you compare our gift annuity rates with what you might receive from a CD, you will likely be pleasantly surprised. While rates vary from time to time, a 80 year old senior might expect a rate of 7%. At that rate, a $100,000 gift would provide $7,000 every year.
2. Regular Payments
When you establish your gift annuity, you receive your payments regularly every quarter, either by check or direct deposit. Whatever you choose, receiving your check on a specific predetermined payment schedule is comforting and helpful for planning purposes.
3. Fixed Income
Your payment rate will be locked in at the time you obtain your gift annuity. It will not rise or fall with the economy. Instead, it will be the same amount every year - and that can mean a lot in uncertain times.
4. Lifetime Benefit
Gift annuities are for life. No matter what your age as an annuitant or how long you live, your payments will continue right to the very end. And, if you have a two-life gift annuity, when one person dies, the other can continue to receive the same amount for the rest of his or her life.
5. Dependable Source
Hope Hospice stands behind all of our gift annuities. State law requires that the donation be put into a trust account. We have a reserve fund set aside to meet our obligations, and what's more, we back up our obligations with the full financial assets of our organization. You can feel secure and confident that your payments will continue without fail.
6. Relief from Taxes
Since part of your contribution for a gift annuity is considered a charitable gift by the IRS, you will receive an income tax charitable deduction to apply to your itemized return. Also, during your life expectancy, you will be able to claim part of the annuity payment as tax-free income.
7. Simple Process
Obtaining a gift annuity is much easier than most people think. We can provide you with a custom illustration, so you can see how it all works with your age and contribution amount, information that you can share with your family and financial advisor.