Not only does this gift provide you with regular payments and allow us to further our work, but when you create a charitable gift annuity with DSJ you can receive a variety of tax benefits, including a federal income tax charitable deduction.
Delay Your Payments
If you are younger than 60 or don’t need your payments immediately, you can set up a deferred gift annuity. This allows you to delay receiving payments until a later date—such as when you reach retirement.
Check Out This Potential Scenario
Say that Justin, 66, and Mary, 65, want to make a contribution to DSJ that will support our work for generations to come, but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity with DSJ. Based on their ages, they will receive a payment rate of 4.3 percent, which means that they will receive $860 each year for the remainder of their lives. They’re also eligible for a federal income tax charitable deduction of $5,544* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support our mission.
*Based on annual payments and a 2.4 percent charitable midterm federal rate. Deductions vary based on income earned.
Learn How to Fund It
You can use the following assets to fund a bequest: