“In these times of low interest rates, gift annuities make sense for many folks over age 60,” states David P. Atkins, Executive Director of the Missouri United Methodist Foundation.  “A gift annuity ensures a meaningful gift to the church along with tax savings and increased current cash-flow for the donor.”

Information and materials can be found in the “DONORS” section of the Foundation website.  Print out a brochure, look at the rates (…the annuity rate is determined by your age at the time you create your gift annuity…), and even use the gift calculator to see how a gift annuity might work for you.  Creating a gift annuity is easy, and the Foundation has been a trusted administrator for over 20 years.

Here is a sampling of current rates and benefits for a one-life gift annuity created with a cash gift of $10,000:

Age

Payout Rate

Annual Income

Tax-free Portion

Charitable Deduction*

65

4.7%

$470

$327

$3,490

70

5.1

510

371

4,099

75

5.8

580

437

4,577

80

6.8

680

529

5,021

85

7.8

780

638

5,660

90+

9.0

900

756

6,295

 

 

 

 


 

 

 

 

*To claim a charitable deduction one must itemized deductions on the federal income tax return.  This information is for general educational purposes only.  Please consult your own professional advisers regarding all appropriate matters.

A gift annuity is created by an irrevocable transfer of cash or securities to the Foundation.  In return you receive 1) guaranteed fixed payments for one life or for two lives jointly (as with a married couple), 2) a portion of the payment is tax-free, 3) the tax savings of a completed charitable gift, and 4) the satisfaction of knowing your gift will make a positive difference for your church or any other United Methodist ministry you designate.  The Foundation ensures timely delivery of your payments (many annuitants choose direct deposit) and provides the annual Form 1099.

To request a detailed illustration and an application contact the Missouri United Methodist Foundation at 800-332-8238 or email datkins@mumf.org .