Charitable Gift Annuity (CGA)
You may be tired of living at the mercy of the fluctuating stock and real estate markets. A charitable gift annuity is a gift made to our organization that can provide you with a secure source of fixed payments for life.
Benefits of a Charitable Gift Annuity
- Receive fixed payments to you or another annuitant you designate for life
- Receive a charitable income tax deduction for the charitable gift portion of the annuity
- Benefit from payments that may be partially tax-free
- Further the charitable work of your parish, Catholic school, diocesan ministry or the Catholic Foundation with your gift
How a Charitable Gift Annuity works
A charitable gift annuity is a way to make a gift to support your parish, Catholic school or diocesan ministry through the Catholic Foundation, Diocese of St. Petersburg.
- You transfer cash or property to The Catholic Foundation, Diocese of St. Petersburg
- In exchange, the Catholic Foundation pays fixed payments to you for life. The payment can be quite high depending on your age, and a portion of each payment may even be tax-free.
- You will receive a charitable income tax deduction for the gift portion of the annuity
- You also receive satisfaction, knowing that you will be helping your beneficiary
If you decide to fund your gift annuity with cash, a significant portion of the annuity payment will be tax-free. You may also make a gift of appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax.
Please contact us if you have any questions about charitable gift annuities. We would be happy to assist you and answer your questions.