Create a legacy with a Catholic Gift Annuity
What is a Charitable Gift Annuity?
A charitable gift annuity is a simple contract. You make a gift to Catholic Gift Annuity, and in return, you receive fixed payments for life.
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At your death, the remaining balance of the gift annuity is distributed to the Catholic organization(s) you designated.
What are the benefits of a Catholic Gift Annuity?
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Receive fixed payments for life; a portion of these payments are tax free.
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Receive an income tax deduction for a portion of your gift, as allowable by IRS rules.
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Join a pool of thousands of Catholics in a financially strong program that helps the Catholic Church.
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Feel satisfied in making a significant gift that benefits you now and the Catholic organization(s) of your choice for future generations.
What are the features?
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Secure, convenient deposit of payments into your preferred bank account.
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Three types of annuities to select from (rates vary):
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Immediate One Life
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Immediate Two Lives – Two recipients
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Deferred – Start payments later
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The Catholic Gift Annuity program combines your gift with others from across the U.S. to increase the impact of your generosity.
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The minimum amount to establish a gift annuity is $5,000; the minimum age to receive income is 55 years old.
An example of a Catholic Gift Annuity
Elizabeth, age 78, has enough savings to meet her retirement needs. She wants to help the Church with a generous donation, but is concerned about her future income with the low interest rates available to her.
In the fall of 2024, she established a $10,000 Catholic Gift Annuity, which specified that the remainder of the annuity balance benefit her local parish.
Cash donated | $10,000 |
Annuity Rate | 7.6% |
Annual Annuity Payment | $760 |
Tax-free thru 2032 | $517.56 |
Taxable | $242.44 |
Charitable Deduction | $4,568.30 |
Elizabeth, who itemizes her deductions when filing her tax return, includes the charitable deduction of $4,568.30. At her 25% tax bracket, this generates a tax savings of $1,142.07.
Calculate your Catholic Gift Annuity
Get in touch to set up your Catholic Gift Annuity
For a personalized proposal, contact Betty Assell, Senior Manager of Annuities, at help@catholicextension.org or 312-795-6089