WHAT IS A GIFT ANNUITY?

A gift annuity is part gift and part investment.  It pays a fixed amount of money quarterly for life.  When you make a gift under this plan, we issue a contract which promises you a certain amount of income each year for the rest of your life.  The gift portion of your annuity is tax deductible and much of the annual income you receive is tax free.

BENEFITS OF A GIFT ANNUITY

Some of the benefits that you receive with a gift annuity are dependable income, convenience, tax savings, attractive returns, and the joy and satisfaction of knowing that you are supporting the Lords work.

The amount you receive from the annuity never changes.  It is not affected by business conditions or fluctuations in the stock market.

Payments for the annuity are sent quarterly and promptly.   No effort or expense on your part, you simply open your mail for your check.   There are none of the inconveniences or expenses of upkeep such as the case of real estate or other property.

In the year you make your gift, a large portion of your investment is deductible on your income tax return as a gift to STEER.  If this deductible exceeds the annual percentage allowed by law, you can carry over the excess deduction for as long as five years.  You can also save on capital gains taxes by using securities or other long term capital gains property to fund a gift annuity.   The gain attributable to the gift portion of the annuity is not taxed and the charitable deduction allowed may more than offset any reportable gain.  This makes the gift annuity a very attractive means of converting highly appreciated assets with low yields to much higher income.

You receive the guaranteed regular payments promised in your gift annuity contract.  The annuity rates are presently as high as 11.3%, depending on your age at the time of this gift.

To learn more about the gift annuity program and to find out the current gift annuity rates please Contact The STEER Office.