A gift annuity is a great way to provide yourself with an income without having to manage the money you have donated. Your income is sent regularly or can be deposited directly into the bank if you wish. A portion of your donation to fund a gift annuity is deductible as a charitable contribution. A portion of the income paid to you comes tax free. If appreciated stocks are donated to fund the gift annuity, there can be significant relief from the capital-gains tax.
Age is an Advantage.
Your annuity rate is based on your age. The older you are, the higher the rate. Once you pass away, the funds from the annuity will be used to help continue the Homes of Charity's work into the future. A gift annuity is simple to set up. Also, you can choose when you want to receive payments or the income can be deposited directly into the bank.