Charitable Gift Annuity
Are you looking for a secure source of fixed income for now or your future?
You may be tired of living at the mercy of the fluctuating stock and real estate markets. One solution is a charitable gift annuity.
How it Works
A charitable gift annuity is a contract between you and the Evangelical Covenant Church.
- You transfer property to the Evangelical Covenant Church through Covenant Trust Company. In exchange you will receive a fixed payout for life.
- The fixed payout can be quite high depending on your age.
- A portion of your income stream may even be tax-free.
- You will receive a charitable deduction for your gift of the remainder to a favorite Covenant ministry and the satisfaction of furthering its mission.
Types of Assets You May Give
- If you decide to fund your gift annuity with cash, a significant portion of the annuity income will be tax-free.
- You may make a gift of your appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax.
Start Receiving Payments Now with a Current Gift Annuity
If you desire current income, you may transfer property in exchange for the promise to pay you a fixed payout beginning as early as this year. You will receive a current income tax charitable deduction for the value of your gift to the ministry.
Deferred Gift Annuity for Income at Future Date
Perhaps you are not ready to begin receiving income until a future date, such as when you retire. You can establish a deferred gift annuity, receive a current charitable income tax deduction and receive payments at a designated future time. Best of all, because you deferred your payments, your annual payment will be higher than with a current annuity. Contact us about flexible date options for your future income.