Making a gift through a Charitable Gift Annuity (CGA) offers a unique opportunity to accomplish your philanthropic support of Orlando Health while also increasing your income and producing several personal tax benefits. Doing so is an easy, reliable and smart way to support organizations such as Orlando Health. Starting July 1, a reduced annuity rate will go into effect, potentially decreasing payout rates for new annuitants.
With just a simple agreement between you and the Orlando Health Foundation, a gift annuity can be established with an irrevocable donation as low as $10,000 and can be funded with cash or appreciated assets such as stocks, bonds or mutual funds.
A CGA may be an option, if you want to:
- Increase your cash flow with fixed payments now or in the future
- Sell appreciated stock and lessen your capital gains tax
- Receive an immediate charitable deduction
*Rates recommended by the American Council on Gift Annuities as a single-life annuity rate
**Sample income and charitable deduction based on a $10,000 annuity
The annual rate of your payment is based on your age at the time of the gift. The older you are, the higher the rate of the annuity. Those under age 65 might consider a deferred gift annuity which provides an immediate income tax deduction, but you set a future date for the annuity payments to begin. This provides a tax benefit now, and a higher payment later.
Maximum annuity rates are determined by the American Council of Gift Annuities (ACGA) and are subject to change. Note that the current rates are scheduled to decrease on July 1, so we encourage you to act now to secure a higher lifetime income.
For more information or to request an illustration of all the tax and financial benefits of a CGA, contact our team at (321) 843-9844 or submit an online request here.