Charitable Gift Annuities
A charitable gift annuity offers the best of both worlds. It’s a way to make a meaningful gift to St. Paul's while providing you with an income for life at the same time!
How Does It Work?
A charitable gift annuity is an irrevocable agreement in which you make an investment of cash or appreciated securities of at least $10,000. In exchange, you will receive annual, fixed payments for life from the annuity. The amount remaining after your lifetime becomes a gift to St. Paul's.
How Do You Benefit?
Income for Life
When you establish a charitable gift annuity, you are setting up a steady income source for yourself for the rest of your life. You will receive a fixed, guaranteed amount from your annuity, annually, semi-annually or quarterly, whichever you prefer. For your convenience, you can arrange for the payments to automatically be deposited into a checking or savings account. It’s an income you can count on.
Safe and Secure Investment
St. Paul’s gift annuities are administered through trusted partner Charitable Gift America. Your payout rate will never change, and your annuity payment is guaranteed. In addition, you can choose to grant the charitable gift immediately to St. Paul's rather than waiting until after your lifetime. In that way, you will be able to see the impact of your gift.
Tax Savings
There are tax benefits to having a charitable gift annuity. When you first establish the annuity, you are entitled to a one-time charitable income tax deduction, which is very helpful if you itemize. Thereafter, a portion of the regular annuity payments you receive will be tax-free.
If you use appreciated securities to fund your charitable gift annuity, you will be able to save on capital gains tax.
You can use an IRA Qualified Charitable Distribution (QCD) to fund a one-time charitable gift annuity of up to $53,000. This will count toward your Required Minimum Distribution (RMD) for the year in which you make the gift. The QCD will not be taxed as income.
Support the Residents at St. Paul's
In addition to the financial benefits, you will also have the satisfaction of knowing that you are supporting St. Paul’s charitable mission with your gift. For more than 150 years, St. Paul’s has been here to support those in need. Your investment helps secure the future. Thank you for believing in what we do and ensuring that our work continues for generations to come.
The Rates
The charitable gift annuity rates are set by the American Council of Gift Annuities. The current rates for 2024 are below, based on a $25,000 gift for one person:
| Age | Rate | Annual Pay-Out |
|---|---|---|
| 65 | 5.7% | $1,425 |
| 70 | 6.3% | $1,575 |
| 75 | 7% | $1,750 |
| 80 | 8.1% | $2,025 |
| 85 | 9.1% | $2,275 |
| 90 | 10.1% | $2,525 |
For more information, please contact Dawn Hartman at 724-589-4611. Dawn will be happy to prepare a personalized gift annuity illustration for you, with no obligation. You can also request an illustration online, here.
Testimonials
John & Dorothy Rust
“At the same time that it’s supplementing our income on a regular basis, we also have the opportunity to help St. Paul’s, an organization that helps others so much.”
Margie Hays
"I set up a charitable gift annuity at St. Paul's because it goes toward a great cause - helping St. Paul's continue its good work in the community. It also gives me additional income I can count on at a fixed interest rate that you can't find anywhere else."