Charitable Deferred Gift Annuity
Perhaps you would like all the benefits of a charitable gift annuity, such as the current tax benefits and the gift to the Church, but don't need the income generated by the gift annuity at this particular point in your life. A charitable deferred gift annuity may meet your needs.
Benefits of a deferred charitable gift annuity
- When you make the gift, receive a charitable income tax deduction for the charitable gift portion of the annuity
- When you make the gift, receive the Montana Endowment Tax Credit if you are Montana taxpayer
- Select the date, in the future, that you will begin to receive fixed payments (to you or another annuitant you designate) for the remainder of your life (lives)
- Benefit from higher payout rates than a current-payout gift annuity, since you are deferring your payments to a future date
- Enjoy payments beginning on the date you select, which will likely be partially tax-free for several years
- Further the mission of the Church and the charitable work of Catholic Foundation of Eastern Montana with your gift
How a deferred charitable gift annuity works
A deferred gift annuity is a way to make a gift to support Catholic Foundation of Eastern Montana.
- You transfer cash or property to Catholic Foundation of Eastern Montana.
- In exchange, we promise to pay fixed payments to you for life, beginning on the date you select (such as retirement or later). The payment can be quite high depending on your age at the time of your gift, and the length of the deferral period (until payment begin). A portion of each payment may likely be tax-free for several years.
- In the year you make your gift, you will receive a charitable income tax deduction for the gift portion of the annuity.
- In the year you make your gift, you will receive the Montana Endowment Tax Credit, if you are a Montana taxpayer.
- You will also receive the happiness and satisfaction of knowing your gift will help the Catholic Church in our diocese forever!
If you decide to fund your deferred gift annuity with cash, a significant portion of the annuity payment will be tax-free. You may also make a gift of appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax (if you had instead sold the securities). Please contact us to inquire about other assets that you might be able to use to fund a charitable deferred gift annuity.
If you have any questions about deferred gift annuities, please contact us. We would be happy to assist you and answer your questions.
Flexible deferred charitable gift annuity (gives you flexibility as to when the payments will start). With a flexible deferred gift annuity, you retain the flexibility to decide when the annuity will begin making payments. As with a deferred gift annuity, you establish the annuity today and receive a charitable deduction and the Montana Endowment Tax Credit this year, but the payments are deferred until such time as you elect to begin receiving the payments.