"Thank you so much for letting me come and be a part of what you do. I think the Muncie Mission is the greatest place."
Thank you, Missy. I think my students learned a lot from the experience. I know that I enjoyed it and learned from it.Your staff were all so welcoming! My students were impressed by the resources and environment you all have established for those you serve. They also became more aware of the challenges some of the students may face when their parents are addicted to drugs. I'm grateful there are people like you all at the Mission fighting hard to help those that need it most.
The gift annuity meets the needs of many who wish to give but want to make certain they have first provided for their financial needs and those of their loved ones.
A charitable gift annuity can provide tax benefits now, and a life-time income for the donor and a beneficiary if desired.
Charitable gift annuities are the gifts that keep on giving. Rates on charitable gift annuities are based on age and whether the contract is immediate or deferred.
A deferred gift annuity is a variation on a gift annuity. A gift is made and the charitable organization promises in return to pay you an income stream that begins on a future date you specify. Since the payments do not begin for a period of time, the fund will grow without withdrawals until the payments begin. With more money in the fund once payments begin, the payments will be larger than with an immediate annuity.
An attractive benefit of this arrangement is that it enables a donor to make a gift now and take a charitable income tax deduction now while in a high tax bracket. Income may be deferred, for instance, until after retirement, when the rate of tax will presumably be lower. Deferred gift annuities are creative ways to delay income to pay for children's or grandchildren's college expenses, supplement your retirement income, or assist with assisted-care living arrangements that may be inevitable.
A part of each payment, as in any gift annuity, may be tax-free for a period of years. However, the precise amount of each payment will depend on the tax rules in effect when the payments start.
Please note, individual financial circumstances will vary. As with all tax and estate planning, please consult your attorney or estate specialist.