Charitable Gift Annuities (CGA)

A Charitable Gift Annuity is an irrevocable, simple contract between the donor and the Community Foundation of Greater Fort Wayne. The donor gives assets (cash or stock) to the Community Foundation for which they receive fixed quarterly income payments, guaranteed for life. At the death of the annuitant, the remaining assets go to an endowment fund established by the donor, to an existing fund at the Community Foundation specified by the donor, to a fund that a charitable organization has established with the Community Foundation, or to the Community Grantmaking Fund.

Reasons for a donor to open a Charitable Gift Annuity:

• Personal satisfaction of knowing a permanent legacy has been put in place to benefit the donor's favorite organization forever.
• Gift annuity rates are attractive, typically ranging from 5.2% to 10.5% depending on the age of the annuitant. Rates increase with age.
• Often a significant portion of a gift annuity is tax deductible in the year established. Additionally, part of each payment is tax-free for the annuitant for a period of time.
• Payment is guaranteed and is backed by the assets of the Community Foundation.
• Probate costs and estate taxes may be reduced.

About Gift Annuity Rates
Payment rates are reviewed periodically and are thus subject to change. A number of factors including age, interest rate assumptions, number of payment recipients, and other factors are considered when determining payment rates and tax benefits. Once a gift annuity is completed, the rate for that particular annuity will never change. Gift annuity rates are set by the American Council on Gift Annuities.

A "Double-Duty" Annuity
It is possible for two persons to enjoy payments from a single charitable gift annuity.

Providing for Others
A charitable gift annuity can also make it possible for an individual to make a charitable gift while helping meet the long-term financial needs of a loved one.

Deferred Gift Annuity
A donor can make an immediate gift for the benefit of the Community Foundation and receive the annuity payments at some future time. The date the annuity payments start is determined by the donor.

Rates for various ages are as follows:

How can I learn more?
To receive a personalized illustration of your potential gift annuity benefits, including income payments, tax savings, and projected charitable gifts, please contact us at 260-426-4083 with the following information:

• Name, Address, City, State, and Zip
• Date of birth for each beneficiary
• Amount you would consider investing in a charitable gift annuity
• Cost basis for your gift, if you are using appreciated securities
• Telephone Number

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