Our Legacy Community
The Center's Legacy Community recognizes individuals who make one of the deepest, most personal commitments to our Center through planned gifts. When including a charitable interest to us in an estate plan, it means including Miracle Distribution Center among those people and places you value most. Bequests, charitable trusts, naming Miracle Distribution Center as beneficiary of an IRA and charitable gift annuities are among the many gift vehicles that qualify as planned gifts.
Charitable Gift Annuities
"You might worry that today's generosity could jeopardize your plans for a comfortable retirement. A Charitable gift annuity lets you live well and give back at the same time."- kiplinger.com
"More and more people are discovering these products as a neat solution to both their charitable intentions and their desire to create more reliable income in retirement."- The Wall Street Journal
"Charitable gift annuities are gaining favor with retirement savers looking to blend their passions with pension-like financial security. Depending on your situation, they can offer attractive income and some nice tax breaks, even as they help favored causes."- The Chicago Tribune
We are pleased to introduce a new way to support Miracle Distribution Center into the future. Through a charitable gift annuity, donors are able to make a lasting gift to the Center and, in return, receive income for the rest of their lives. Annuitants also receive a lifetime subscription to The Holy Encounter and free admittance to any of the Center's events. The paperwork for gift annuities is simple to complete and without cost to you.
A Glimpse At The Benefits of The Charitable Gift Annuity
The CGA, as it is known, is actually a legal contract between a donor(s) and a qualified charitable institution such as Miracle Distribution Center. This contract has two parts. The first is the backbone of the whole idea: a charitable gift. The second, as the name implies, is an annuity - an annual payment from the charity to the individual(s) making the gift. In short, a donor makes a gift to charity, and the charity agrees to annual payments (for the life of the donor).
Because of the underlying charitable nature of this contract, the donor receives a number of uniquely charitable tax benefits including an income tax deduction at the time the CGA is initialized. In addition, when the CGA is funded with certain types of appreciated assets, there is a partial bypass of applicable capital gains tax and a portion of each income payment is considered to be "return of principal" and is tax-free to the donor.
(The rate for annuity payments is determined by the age of the donor with more senior individuals receiving rates as high as 9.5%.)
Upon the death of the donor, the value of the CGA contract becomes the charitable gift, leaving a lasting statement of the philanthropic intent and the nature of the agreement.
A CGA IN ACTION
If you are age 75 and transfer $20,000 to MDC for a CGA, you would receive guaranteed payments of $1,280 each year, based upon the 6.4% annuity rate for your age. The $1,280 may be paid in one sum each year, or in several installments throughout the year.
Nearly $700 of the income would be tax-free each year, for the next 17.5 years. (After that time, the full $1,260 would be taxable.) In addition, you would be entitled to an immediate charitable deduction of approximately $8,100.
So, a decision to take action today resulting in a gift to charity in the future means that a donor receives tax savings as well as what is often an increase in income and higher overall return on a specific asset -- an unexpected tangible testimony to the fact that in giving you really do receive!
Click the panel below to view our rates for a single life annuity
Charitable Gift Annuity Rates
Approved by the American Council on Gift Annuities - July 1, 2010
SINGLE LIFE
| Age | Rate |
|---|---|
| 60 | 5.2 |
| 61 | 5.2 |
| 62 | 5.3 |
| 63 | 5.3 |
| 64 | 5.4 |
| 65 | 5.5 |
| 66 | 5.5 |
| 67 | 5.6 |
| 68 | 5.7 |
| 69 | 5.8 |
| 70 | 5.8 |
| 71 | 5.9 |
| 72 | 6.0 |
| 73 | 6.1 |
| 74 | 6.4 |
| 75 | 6.4 |
| 76 | 6.5 |
| 77 | 6.7 |
| 78 | 6.8 |
| 79 | 7.0 |
| 80 | 7.2 |
| 81 | 7.4 |
| 82 | 7.5 |
| 83 | 7.7 |
| 84 | 7.9 |
| 85 | 8.1 |
| 86 | 8.3 |
| 87 | 8.6 |
| 88 | 8.9 |
| 89 | 9.2 |
| 90+ | 9.5 |
These are rates for a single life. Rates for two-lives are also available.
Request more information by . Please include your name, address, age and the amount you are considering for an annuity, and we will send you a customized proposal outlining the benefits.
These figures are for illustration purposes only. Minimum amount to begin a CGA is $10,000.00. ($20,000 in California.) Minimum age to begin payments is 60. Minimum age for a deferred annuity is 45. Available for single life and joint life.