Several years ago, Larry and Allison invested $30,000 in what they believed to be an attractive stock. It turned out to be a very wise decision, as the stock increased in value to $100,000 within three years. Though they were not in need of additional income at the time, the couple decided to cash in on this growth.
Allison: 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 charitable gift.
Larry: 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.
Allison: We contacted JCF and learned about benefits of setting up a deferred gift annuity. We found out that we could give our stock to JCF, instead of selling it, and receive an immediate charitable tax deduction. Plus, when we turn 65, the deferred gift annuity would make annual retirement payments to us for the rest of our lives.
Larry: We set up the deferred gift annuity and experienced the benefits Allison mentioned. We received a generous charitable tax deduction that produced immediate tax savings. When we retire, we can look forward to the annuity payment each year that will make our retirement travel possible. Plus, the deferred gift annuity makes a portion of the income payments we receive tax-free. On top of all of this, Allison and I will be leaving a legacy to the JCF, to further support their important work in the community. It turned out to be a great plan!
Is a deferred gift annuity right for you?
If you are interested in a charitable gift annuity but don't have a present need for the annuity payout, 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.
if you would like to learn more about deferred annuities and how this gift could help you.
*Please note: The names and image above are representative of typical donors and may or may not be actual donors to our organization. Since your gift annuity benefits may be different, you may want to click here to view an example of your benefits