One of the best aspects of planned giving is its inclusiveness, providing varying options to fit nearly everyone’s financial situation. Let’s take a detailed look at one of these options—charitable gift annuities.
After a long career, you choose to enter retirement. During the course of your lifetime, you accumulated a large amount of assets. You would like to make a significant charitable impact, one that also comes with excellent tax benefits.
However, you enjoy your time traveling, visiting the grandchildren a couple of states away and would like to keep your golf club membership active. Retirement plans are sufficiently covering the expenses, but an additional income would give the peace of mind to make that significant charitable contribution.
A charitable gift annuity may be the answer.
This planned giving vehicle offers a fixed annual income for life to a donor in exchange for a donation of cash or assets to the Kiwanis International Foundation. The agreement can even extend through both lives of a couple.
A charitable gift annuity offers a number of tax advantages. The donor receives an immediate tax deduction for the amount of the gift minus the expected amount received through payments. A portion of the payments is not taxable income. It can also be used to avoid estate taxes or some capital gains taxes.
Most importantly, your donation will support the Kiwanis International Foundation endowment. Funds donated to the endowment support Kiwanis family clubs and districts, providing revenue to help provide grants for important projects that serve the children of the world.
And the Kiwanis International Foundation will recognize you for your generous gift. For a contribution of US$10,000 or more, you will become a member of the Heritage Society. If your gift is US$50,000 or more, you will become a member of the Mary and Bo Shafer Legacy Society.
With your gift to establish a charitable gift annuity with the Kiwanis International Foundation, you’ve managed to:
There are a number of additional planned gift options that may be the right fit for your financial and charitable goals. If you’d like to learn more about charitable gift annuities or additional options the Kiwanis International Foundation offers, contact manager of major and planned giving, Steve Hinson, at (317) 217-6234 or [email protected].