The Washington County Community Foundation Charitable Gift Annuity Program provides the vehicle for donors to support their favorite charitable causes in the future while receiving a tax deduction today and maintaining an income stream for the rest of their lives.
The annuity rates for the program are the suggested uniform gift annuity rates of the American Council on Gift Annuities. Approved rates for gift annuities are very attractive, particularly in the current economic environment. Payments may begin immediately or be deferred. The minimum age for a WCCF gift annuity is 55 and the minimum contribution is $25,000.
At the completion of the gift annuity term, the residuum (remainder) will be used for one of the following options you select:
The benefits of a Gift Annuity include:
The contributed property (the gift), given irrevocably, becomes a part of the WCCF's assets, and the annuity payments are a general obligation of the WCCF. The annuity is backed by the WCCF’s entire assets, not just by the property contributed. Unlike a trust, annuity payments continue for the life/lives of the annuitant(s), and not only as long as assets remain in the gift annuity fund.
If you would like to learn more about our Charitable Gift Annuity Program and its potential benefits for you, please contact us and we will be happy to prepare a confidential and personalized illustration for your consideration.