Charitable Gift Annuities
Yearly Annuity Payments
A charitable gift annuity is an agreement between you and Advocate. You agree to make a gift of cash or appreciated securities to a hospital or program of interest to you. In turn, we invest these funds and agree to pay a fixed percentage of income to you every year. The yearly income amount is determined by your age at the time of your contribution. The older you are, the higher your rate is; the rate remains constant once the gift is made. The minimum gift level for a Charitable Gift Annuity is $10,000.
Benefits Per $10,000 Contributed: Annuity Payments To One Beneficiary (Fixed Payout)
| Age of Beneficiary |
Suggested Payout(%) |
Annual Payment |
Deduction |
| 60 |
5.7 |
570 |
2,112 |
| 65 |
6.0 |
600 |
2,742 |
| 70 |
6.5 |
650 |
3,300 |
| 75 |
7.1 |
710 |
3,929
|
| 80 |
8.0 |
800 |
4,528
|
| 85 |
9.5 |
950 |
4,974
|
| 90 |
11.3 |
1,130 |
5,527
|
*Assumes use of 3.6% applicable federal rate with quarterly payments.
A variety of tax and financial benefits are available. Through a charitable gift annuity a portion of your income payments may be tax-free. Capital gains taxes can be minimized if you use appreciated assets to fund your gift. Furthermore, you may be entitled to a substantial income tax charitable deduction in the year you make your gift.
Deferred Payment Charitable Gift Annuity
In planning your charitable gift annuity, you may elect to begin receiving income right away. Or, instead of receiving an immediate payment, you might choose to recieve a higher payment starting at a later date, such as when you retire.
It works like this—you make a charitable gift now, securing a current income tax charitable deduction, and Advocate agrees to pay you a life income starting at any date you select. This is especially advantageous if your tax bracket is higher now than it will be later. In addition, the annual income rate is considerably higher when the payments begin. The minimum gift level for a Deferred Payment Charitable Gift Annuity is $10,000.
For more information about how you can support an Advocate hospital with a charitable gift annuity, please contact Marilyn Schaffer (847.384.3424; marilyn.schaffer@advocatehealth.com) or Mike Bell (847.384.3418; michael.bell@advocatehealth.com.) We will be glad to assist you.
Back to Make a Planned Gift
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