When it comes to planned gifts, not all types of gifts are created equal. That’s because there are some gifts that return income or a financial benefit to the donor in return for their contribution. We call these types of gifts Charitable Life Income Plans.
One such gift is a Charitable Gift Annuity or CGA. Simply complete a CGA contract with the Foundation with an initial minimum gift of $5000 in cash or securities. Per the agreement, the Foundation will pay the annuitant (and a survivor annuitant, if desired) a fixed income for life. Quarterly payments are calculated by age of the annuitant(s) and the amount of the gift, and payments begin promptly with the next quarterly cycle. Upon the death of the annuitant and survivor annuitant, any remaining assets are transferred to the donor’s specified beneficiary: a church, ministry, or mission of the West Ohio Conference.
Another option is the Charitable Remainder Trust (CRT), which is funded with cash or property. It makes payments for a lifetime or a specified term of years to people you select, then distributes the remainder to charity, such as your church or other UM ministry. You transfer cash or appreciated property to a CRT established with your financial services provider. A CRT is a tax‑exempt trust that can sell the property without paying capital gains tax and can invest the proceeds to pay income to you or loved ones. This option is best for those with cash or appreciated property of at least $100,000 in value who desire both income and tax savings.
The United Methodist Foundation of West Ohio is your partner in establishing a Charitable Life Income Plan. If you have questions about these or any planned gifts, contact the Foundation at sblack [at] wocumc.org or go online to find more information at www.umfwestohio.org.