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Establishing a charitable gift annuity is simple, thanks to a partnership between Northern Illinois Food Bank and Feeding America. You donate assets that Feeding America invests. In return, Feeding America agrees to make fixed payments to you for life. At the end of the agreement, the funds are transferred to Northern Illinois Food Bank’s endowment.
A charitable gift annuity ensures you a stream of income that you can’t outlive. It’s also a superb way to make an enduring gift that supports hunger relief. In addition, you can receive a variety of tax benefits, including a charitable deduction if you itemize.
Discover your personal benefits by contacting Gina Gramarosso for your no-obligation calculation today: ggramarosso@northernilfoodbank.org.
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 Deferred Gift Annuities: Plan Now, Benefit Later.
Dennis, 75, and Mary, 73, 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 fund a $25,000 charitable gift annuity with appreciated stock that they originally purchased for $10,000.
Based on their ages, they will receive a payment rate of 6.0%, which means that they will receive $1,500 each year for the remainder of their lives. They’re also eligible for a federal income tax charitable deduction of $8,792* when they itemize.
*Based on a 5.2% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
Input a few details and see how a charitable gift annuity can benefit you.
This comprehensive estate planning kit helps you protect your family and establish your legacy. FREE!
Download My KitLearn more about the many benefits of a charitable gift annuity in our FREE guide Charitable Gift Annuities: Gifts That Give Back.
This comprehensive estate planning kit helps you protect your family and establish your legacy. FREE!
Download My Kit