Charitable Gift Annuity

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.

How is the Residuum Used?

At the completion of the gift annuity term, the residuum (remainder) will be used for one of the following options you select:

• Create a new fund at the WCCF to benefit a cause you select
• Add to an existing fund at the WCCF
• Provide a lump sum payment to another qualified charity including your church, community center, local library, fire department, etc.

Benefits of Gift Annuities

The benefits of a Gift Annuity include:

• A current charitable deduction for a part of your gift. This could be particularly helpful to offset increased taxes incurred in conjunction with gas royalty payments.
• The ability to bypass a portion of capital gains tax for gifts of certain assets.
• Attractive annuity rates which are fixed and guaranteed for life.
• The ability to support the charities that are important to you.
• The ability to ensure your charitable legacy or that of a loved one.
• Potential to increase your annual income in retirement particularly if you are contributing stock which pays minimal dividends.

Guaranteed Payments

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.

Personalized Illustrations

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.