Charitable Gift Annuities
In order to help select the Charitable Gift Annuity (CGA) right for you, we offer both an immediate and a deferred CGA.
How it works
- You transfer cash and securities to Sun Health Foundation.
- Sun Health Foundation pays you, or up to two annuitants you name, a lifetime annuity.
- The remainder passes to Sun Health Foundation when the contract ends.
Benefits
- You are eligible to enjoy an immediate income tax deduction for a portion of your gift.
- Your lifetime annuity is backed by all of Sun Health Foundation’s assets.
- The older your designated annuitants are at the time of the gift, the greater the fixed income Sun Health Foundation can agree to pay.
- Your annuity payments are treated as part of ordinary income, part capital gains income and part tax-free income.
- You have the satisfaction of making a significant gift that benefits you now and Sun Health Foundation later.
Of all of the gifts that pay you back, the charitable gift annuity is the simplest, most affordable, and most popular. You make a gift to Sun Health Foundation and in return, we agree to make fixed payments to you for life. The gift agreement is a simple contract between you and Sun Health Foundation. Your payments become one of our general obligations, fully backed by all the Sun Health’s Foundations assets. At your death, we apply the balance of the gift annuity to the program you designated when you made your gift.
Planning points
- A Sun Health Foundation charitable gift annuity can be created with a gift of $10,000 or more.
- Gift annuities can provide an affordable life income gift opportunity for many donors.
- Your gift annuity can make payments to a maximum of two people.
- Gift annuity rates are partly determined by the age of the beneficiary when payments commence. Younger donors may find planning benefits in a deferred gift annuity.
A charitable gift annuity is for you if…
- You want to make a significant gift to Sun Health Foundation and receive lifetime payments in return.
- You want to maximize the payments you receive from your planned gift – and you want to lower your income tax on those payments.
- You want the security of payment amounts that won’t fluctuate during your lifetime and that are backed by all of the assets of Sun Health Foundation.
Deferred Charitable Gift Annuities
How it works
- You transfer cash, securities or other property to Sun Health Foundation.
- Beginning on a specified date in the future, Sun Health Foundation begins to pay you, or up to two annuitants you name, fixed annuity payments for life.
- The principal passes to Sun Health Foundation when the contract ends.
Benefits
- Deferral of payments permits a higher annuity rate and generates a larger charitable deduction.
- You can target your annuity payments to begin when you need them, such as retirement or when grandchild needs help with tuition payments.
- The longer you defer payments, the higher the effective rate you will receive.
- You have the satisfaction of making a significant gift now that benefits you and Sun Health Foundation later.
For questions related to Charitable Gift Annuties, please email us or call (623) 876-5330.
