Charitable Gift Annuity
Are you looking for a secure source of fixed income for now or in the 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 Akron Community Foundation.
- You transfer property to Akron Community Foundation. In exchange, we pay you fixed income for life
- The fixed income 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 the value of the remainder, which you give to Akron Community Foundation to support or establish your fund
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 our promise to pay you fixed income beginning as early as this year. You will receive an income tax charitable deduction this year for the value of your gift to Akron Community Foundation.
Deferred gift annuity for income at a 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 charitable income tax deduction this year, 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.
Is a charitable gift annuity right for you? Call your advisor or contact us.