Annuities: Gifts That Give BackWould you like to contribute to charity while creating a guaranteed, fixed lifetime income stream at rates above CD rates?
Did you know that you can contribute to Benny Hinn Ministries while increasing your income and financial stability and at the same time reduce your income taxes and estate taxes? Through a Charitable Gift Annuity, you or both you and your spouse would receive tax benefits and guaranteed lifetime payments while supporting ministry efforts.
This is how it works: with a Charitable Gift Annuity agreement, you transfer cash or marketable assets (minimum of $10,000) to Benny Hinn Ministries through Trust Counselors Network. We guarantee to send you fixed payments for the rest of your life as well as the life, perhaps, of a second annuitant. Upon the death of the last annuitant, the foundation you designate receives the remainder of the funds. In essence, on your part, the transaction is partly a charitable gift and partly the purchase of a stream of income.
Estate-Tax SavingsMoney you put into a Charitable Gift Annuity is usually not subject to estate or gift taxes.
Many Benefits for YouIn addition to meeting your philanthropic objectives, a Charitable Gift Annuity offers you many other benefits:
- You would receive guaranteed and possibly higher payments.
- Charitable Gift Annuity payments are based upon the amount of the gift, whether it involves cash or appreciated securities, your age and that of a joint annuitant, and when you want the payments to begin.
- The lifetime payments you receive are based on the American Council on Gift Annuities’ recommended payout rates, which take into consideration all these factors.
- If you fund the Charitable Gift Annuity with low-dividend stocks, your guaranteed payments might actually be higher than your dividends. And you eliminate your worries about the volatility of stock prices because your payment will always be the same, regardless of whether the stock market is up or down.
Income-Tax SavingsA portion of the payments you receive from the Charitable Gift Annuity is usually tax free or taxed at the lower capital gains tax rate. And you are eligible to claim a charitable income-tax deduction on part of the transaction in the year you make the gift, and perhaps additional years. Money you put into a Charitable Gift Annuity is usually not subject to estate or gift taxes.
An Inexpensive AgreementBecause of the simplicity of a Charitable Gift Annuity agreement, it is usually not necessary to incur legal fees in the transaction. Nonetheless, many people feel comfortable having their attorney review the agreement, and we suggest you do so.
Funding Your Charitable Gift AnnuityTo fund a Charitable Gift Annuity, most people use cash or appreciated securities such as stocks or bonds. Some also fund it with real estate. If you use appreciated securities, you will avoid paying immediate capital gains tax. However, some taxable capital gains may be included in your income.
A Valuable Financial ToolIf you would like to examine the advantages that you could personally derive from having a Charitable Gift Annuity, call us, or have Tim Whitsitt, Planned Giving Director, develop an illustration tailored just for you. If you decide to proceed, Tim Whitsitt will give you a one-page application to complete and will coordinate the simple agreement and transaction. We appreciate your consideration of a Charitable Gift Annuity with us! It is a partnership that will provide many benefits to all concerned in tremendous ways.
For decades, planned giving has been a sound tool to help believers develop long-term strategies to sow seed in the most effective ways to benefit everyone involved.
My Request For You
To assist my partners and friends of the ministry with these opportunities, we have established a Planned Giving Department to share information that will be a powerful, continuing blessing to you and your loved ones, as well as to this ministry.
I have asked Tim Whitsitt, Planned Giving Director, to help each interested partner make informed decisions about the practical, strategic ways to bless your own loved ones while honoring God through planned giving.
Take a few moments to let us know your interest in planned giving so we may assist you with additional information. Your generous support of the Lord’s work will be an enduring testimony of your faith as together we seek to take the gospel of Jesus Christ to the nations. For decades, planned giving has been a sound tool to help believers develop long-term strategies to sow seed in the most effective ways to benefit everyone involved. To assist my partners and friends of the ministry with these opportunities, we have established a Planned Giving Department to share information that will be a powerful, continuing blessing to you and your loved ones, as well as to this ministry.