Charitable Gift Annuity
A Charitable Gift Annuity with Moody is a contract under which you transfer cash or publicly traded securities to Moody and Moody agrees to pay a fixed amount of money to one or two individuals for a lifetime
Benefits of a charitable gift annuity
- Support the important work of Moody Bible Institute while caring for the needs of you and your family
- Receive an immediate tax deduction for a portion of your gift, at the time your gift is made
- Secure fixed payments for life to you or to you and a loved one.
How a charitable gift annuity works
A charitable gift annuity is a contract between you and Moody Bible Institute.
- You transfer cash or property to Moody Bible Institute.
- In exchange, we sign an annuity contract and promise to pay fixed payments to you for life. The payment can be quite high depending on your age, and a portion of each payment may even be tax-free.
- You will receive a charitable income tax deduction for the gift portion of the annuity.
- You also receive satisfaction, knowing that you will be helping further our mission.
If you decide to fund your gift annuity with cash, a significant portion of the annuity payment will be tax-free. You may also make a gift of appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax. Please contact us to inquire about other assets that you might be able to use to fund a charitable gift annuity.
Deferred charitable gift annuity (for payments at future date). Perhaps you are not ready to begin receiving payments until a future date, such as when you retire. With a deferred gift annuity, you establish the gift annuity today, receive a charitable income tax deduction this year, but defer the payments until a designated date sometime in the future. Best of all, because you deferred the payments, your annual payment will be higher when the payments start than they would have been with a current gift annuity.
To learn more or to request an illustration please contact us. We would be happy to assist you and answer your questions.