Deferred Gift Annuity
Catherine: We had a good year last year and we were looking for ways to maximize our deductions and reduce what we owed in taxes. At the same time, we were considering the best way to make a gift to our church.
Peter: We are both in good health. We are still working, so we don't need extra income right now, and retirement is still probably more than 10 to 15 years away. We were looking at smart ways to save for retirement. Our retirement goal is to live comfortably and travel the country in our motorhome to visit friends and family.
Catherine: We met with the Catholic Foundation of Eastern Montana and learned about a Deferred Gift Annuity. By going a Deferred Gift annuity with the Foundation, we could gift our stock to them instead of selling it and, in return, receive an immediate charitable tax deduction and the Montana Endowment Tax Credit. Plus, when we turn 65 (the age we chose), the Deferred Gift Annuity will begin making annual payments to us for the rest of our lives. To top it off, part of that income will be tax-free to us for several years. It's a great situation!
Peter: We set up the Deferred Gift Annuity and received everything Catherine mentioned. We got a generous charitable tax deduction that produced immediate tax savings. We were able to take the 40% Montana Endowment Tax Credit. And, when we retire, we can look forward to the annuity payment each year that will make our retirement travel possible. Because we deferred the payments, instead of starting them now, we locked in a rate that is really impressive! The best part, though? We gave a great gift back to the Church. Stewardship is important to us and this was the right thing to do in gratitude for all God has given us.
Peter: We are both in good health. We are still working, so we don't need extra income right now, and retirement is still probably more than 10 to 15 years away. We were looking at smart ways to save for retirement. Our retirement goal is to live comfortably and travel the country in our motorhome to visit friends and family.
Catherine: We met with the Catholic Foundation of Eastern Montana and learned about a Deferred Gift Annuity. By going a Deferred Gift annuity with the Foundation, we could gift our stock to them instead of selling it and, in return, receive an immediate charitable tax deduction and the Montana Endowment Tax Credit. Plus, when we turn 65 (the age we chose), the Deferred Gift Annuity will begin making annual payments to us for the rest of our lives. To top it off, part of that income will be tax-free to us for several years. It's a great situation!
Peter: We set up the Deferred Gift Annuity and received everything Catherine mentioned. We got a generous charitable tax deduction that produced immediate tax savings. We were able to take the 40% Montana Endowment Tax Credit. And, when we retire, we can look forward to the annuity payment each year that will make our retirement travel possible. Because we deferred the payments, instead of starting them now, we locked in a rate that is really impressive! The best part, though? We gave a great gift back to the Church. Stewardship is important to us and this was the right thing to do in gratitude for all God has given us.
Is a deferred gift annuity right for you?
If you want to make a significant gift to the Church, receive excellent tax benefits now, but also lock-in payments to begin when you retire (since you don't need the income now), a Deferred Charitable Gift Annuity could be the right gift for you. When you fund the annuity, you can decide when you want to begin receiving the payments.
Hundreds of Catholics in our diocese have made Deferred Gift Annuities with the Catholic Foundation of Eastern Montana.
Contact us if you would like to learn more about deferred gift annuities and how this gift could help you.
*Please note: The names and image above are representative of a typical donor and may or may not be an actual donor to our organization. Since your gift annuity benefits may be different, you may want to click here to view a color example of your benefits.
