Are you looking for a way to make your generosity go further and receive lifetime payments and great tax benefits? We've got some exciting news that marries the best of both worlds: higher payment rates on Charitable Gift Annuities (CGAs) are here!
Starting this January 2024, we're thrilled to announce that the rates for CGAs have soared to heights we haven't seen in a decade.
What does this mean? Let's break it down:
A charitable gift annuity is essentially a contract between you and Special Olympics. You donate cash, appreciated securities, or funds from your IRA (if eligible) to us, and in return, we promise to pay you (and/or another person a fixed amount annually for the rest of your/their life. Think of it as a gift that keeps on giving – to you and to the causes you care deeply about.
You must be age 65 to receive payments, and the minimum gift is $10,000.
Why the Buzz Around CGAs Now?
- Higher Payment Rates: The rates have jumped up to an impressive 10.1% for an immediate payment gift annuity benefiting one person. Rates go even higher if you defer your payments.
- Steady, reliable, lifetime payments: In an era of fluctuating markets, CGAs offer a steady, reliable payment you can count on during your retirement years.
- Tax advantages: You’ll qualify for an immediate tax deduction, and if you use appreciated securities to make your gift, you’ll avoid capital gains taxes.
- An Additional, Unique Opportunity: Thanks to the Secure 2.0 Act, if you're over 70.5 years old, you can now make a one-time gift of up to $53,000 directly from your IRA to fund a gift annuity. This isn't just good news; it's great news for your tax planning.
Benefits for You, A Brighter Future for All
When you opt for a CGA, you're not just securing your future; you're also helping us make a tangible impact on the lives of people with intellectual disabilities. Your contributions enable us to keep doing the crucial work that changes lives and communities for the better.
Ready to Learn More?
We understand that making financial decisions is serious business, and we're here to help. If you're curious about how a Charitable Gift Annuity could fit into your philanthropic and financial planning, let's chat. Our team is ready to provide you with all the information you need to make an informed decision.
If your heart is saying, "Yes, let's do some good," reach out to us, and together, we can turn your charitable goals into a legacy of inclusion and opportunity!
Ready to explore the possibilities? Contact us directly at plannedgiving@specialolympics.org or (866) 690–3951.
