Give & Receive

 

How to Establish a Gift Annuity at InFaith:

1. Request a personalized illustration for your client using our request form, or use our gift calculator.
2. Review the illustration and disclosure documents with your client.
3. If your client wishes to proceed and establish a gift annuity, complete and return the Gift Annuity Application, IRS Form W-9 and Fund Workbook
   • If the client is giving cash, they may send the check at this time, made payable to InFaith Community Foundation.
   • If the client wishes to give stock, include copies of either the stock certificates or the most recent brokerage statement showing the shares they wish to give. InFaith will contact you with specific instructions on how to transfer the securities.

Tax and Financial Benefits of Creating a Gift Annuity

• The annuitant(s) receive fixed payments for life (backed by on the full faith and credit of InFaith);
• The donor receives a charitable income tax deduction in the year of the gift;
• For gifts of cash, the annual charitable deduction limit is 60% (for gifts January 1, 2018 and thereafter) of the donor’s AGI;
• For gifts of long-term appreciated securities, the annual charitable deduction limit is 30% of the donor’s AGI;
• Unused charitable deductions may be carried over an additional five years;
• The donor bypasses a portion of capital gains on gifts of appreciated securities; a portion of the capital gain is recognized over the lifetime of the annuitant; and
• A portion of each gift annuity payment is usually tax-free.

 

 

InFaith uses the American Council on Gift Annuities recommended rates to determine the payout rate on a gift annuity contract. Rates are based on the age of the annuitants; gender is irrelevant. A donor may request a lower payout rate and in return receive a higher charitable income tax deduction.