A Charitable Gift Annuity is a contract that allows a donor to give a deferred gift to an endowment while still ensuring cash flow for the rest of his or her life, and/or that of his or her spouse.
The donor gives a lump sum and takes an immediate tax deduction. The donor then receives a fixed quarterly payment for life, guaranteed. That payment is determined by the gift amount and the donor's age. In many cases these payments exceed what can be earned on a traditional Certificate of Deposit at a bank. The Catholic Foundation follows the suggested rates approved by the Board of Directors of the American Council on Gift Annuities. For more information on current rates click here.
At the end of life, the remaining funds go to the endowment selected when the Charitable Gift Annuity was established. On average,donors receive about half of their initial donation in quarterly payments. For a personal illustration of how a Charitable Gift Annuity can benefit you and your charitable goals, please contact Scott Hartman, at shartman@catholic-foundation.org or 614/443.8893.
"We're just tickled pink that the memory of our beautiful daughter will live on forever and help other kids who love music the way she did." 