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.
Use a Qualified Charitable Distribution from your IRA to fund a Charitable Gift Annuity. Due to the Secure Act 2.0 each individual can now use up to $50,000 from their IRA to fund a Charitable Gift Annuity. Each person can use their QCD to fund a CGA during one calendar year in their lifetime. This unique opportunity enables you to secure an income stream for life while giving to the ministries at MBI.
To learn more or to request an illustration please contact us. We would be happy to assist you and answer your questions.