Charitable Gift Annuity
Gifts That Pay You Income
There's a way for you to support Northern Illinois Food Bank and feel confident that you have dependable income in your retirement years. You can do this with a charitable gift annuity.
This type of donation can provide you with regular payments and allow us to further our work. You can also qualify for a variety of tax benefits, including a federal income tax charitable deduction when you itemize.
See How It Works
An Example of How It Works
Dennis, 66, and Mary, 65,* want to make a contribution to Northern Illinois Food Bank but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity.
Based on their ages, they will receive a payment rate of 4.5 percent, which means that they will receive $900 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $6,129** when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support our mission.
*These examples are for illustrative purposes only, to maintain the privacy of our donors.
**Based on annual payments and a 3.2 percent charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
- Contact Gina Gramarosso at 630-443-6910, ext. 130 or email@example.com for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with Northern Illinois Food Bank.
- Seek the advice of your financial or legal advisor.
- If you include Northern Illinois Food Bank in your plans, please use our legal name and federal tax ID.
Legal Name: Northern Illinois Food Bank
Address: 273 Dearborn Court, Geneva, IL 60134
Federal Tax ID Number: 36-3203648
Payments for Life
Learn more about the many benefits of a charitable gift annuity in our FREE guide Strengthen Your Future With a Charitable Gift Annuity.
Gifts That Pay
Your payments depend on your age at the time of the donation. If you are younger than 60, we recommend that you learn more about your options and download this FREE guide Plan for Retirement With a Deferred Gift Annuity.
Calculate Your Benefits
Submit a few details and see how a charitable gift annuity can benefit you.