They receive an immediate charitable tax deduction. A portion of the income is tax free, reducing their ordinary income taxes. If they use appreciated assets, they can avoid a portion of their capital gains tax, and any of this tax owed will be spread out over their life expectancy. Most parishes report that Gift Annuities do not affect Sunday collections. The funds are placed into the Restricted Fund of the Archdiocese, invested for long-term growth.
Distributions come from the corpus of the donor's gift.
Upon the death of the beneficiaries, the parish receives the remaining corpus and accrued income. The Archdiocesan Planned Giving Department administers the program on your behalf. Establishing the contract between the donor and the Archbishop. Ensuring that the donor receives their tax forms at the end of each year. Distributing quarterly, biannual or annual payment checks.