What is a Charitable Gift Annuity?
A gift annuity is an agreement in which a donor makes a gift of cash or property and a charity agrees to make fixed payments to the donor for life.
How a gift annuity works
- A charitable gift annuity (CGA) is a contract between a donor and a charity.
- A donor gives cash or appreciated property to the School Sisters of St. Francis. In exchange, the School Sisters make fixed payments for the lifetime(s) of one or two individuals.
Financial details
- Annuity payments are based on a rate schedule. The School Sisters of St. Francis use the rates set by the American Council of Gift Annuities. Under these rates, the older the age of the individual receiving payments, the higher the rate.
- A predetermined portion of each payment is taxable.
Gift annuity vs. deferred gift annuity
- A gift annuity can begin payments immediately.
- A deferred annuity will defer payments for up to a year.
We invite you to contact us for more information.
A will or bequest is the simplest way to provide a planned gift for the School Sisters of St. Francis. You can easily include language in your will or trust specifying a gift to family, friends or charity.
Bequest options
- A gift of a specific dollar amount or asset
- A gift of a specific percentage of your estate
- A gift of the balance or residue of your estate
- An IRA or other specific retirement asset
Benefits of Your Request
- Leave a lasting legacy
- Receive estate tax charitable deductions
- Lessen the amount of tax on loved ones
We invite you to contact us for more information.
How Do I Give a Life Insurance Policy?
Designating the School Sisters of St. Francis as the beneficiary of a life insurance policy provides an opportunity to make a sizable gift for a minimal investment. The life insurance policy can be an existing policy (either partially paid or fully paid) or a new policy.
The School Sisters of St. Francis can be named as a partial or full beneficiary of the policy on the beneficiary designation form. As the donor, you are entitled to receive a charitable income tax deduction if the School Sisters of St. Francis are named as the owner and beneficiary of the policy.
We invite you to contact us for more information.
How Do I Give a Retirement Plan or IRA?
Giving a retirement plan or an individual retirement account (IRA) to the School Sisters of Saint Francis has gained much popularity as a planned gift option. Simply obtain a beneficiary form from the administration of the retirement plan or the IRA and add the School Sisters of St. Francis as an entire or partial beneficiary of the asset.
Significant income and estate tax savings can be achieved using this gift option – sometimes tax savings can be as much as 75 cents on the dollar.
We invite you to contact us for more information.