Planned Giving
Charitable Gift Annuities
You can leave a legacy by giving a charitable gift annuity to the Southern Maine Agency on Aging.Benefits of Charitable Gift Annuities
Charitable Gift Annuities are simple gift arrangements that provide you with:
- Fixed, lifetime payments to one or two annuitants
- Attractive rates of return based on your age(s)
- A charitable deduction in the year of the gift
- Part of your annuity income will be tax-free
- Reduced capital gains taxes when you use appreciated stock
- A charitable gift to the Southern Maine Agency on Aging
How Charitable Gift Annuities Work
You can create a Charitable Gift Annuity with a minimum of $10,000 in cash or stock assets. Minumum age is 65 for one annuitant or for two-life annuitants, the joint age must equal 65, you then receive an annual income, while the Southern Maine Agency on Aging receives a contribution. The chart below shows how a $10,000 Charitable Gift Annuity would be broken out in terms of payments and charitable contributions.
Sample Chart for a $10,000 Gift Annuity on a Single Life
Age at Gift |
65 |
75 |
85 |
90 |
Annuity Rate |
6.0% |
7.1% |
9.5% |
11.3% |
Charitable Deduction |
$3,449 |
$3,881 |
$4,392 |
$4,890 |
Annual Income Payment |
$600 |
$650 |
$710 |
$800 |
* Rates for single-life annuities are typically higher than those for two-life annuities.
Legal and Financial Considerations
The example provided is for illustrative purposes only and is not intended as legal or tax advice. We recommend that individuals seek the advice of a financial or legal professional as they consider establishing any type of planned gift.
The Southern Maine Agency on Aging will follow the annuity rates recommended by the American Council on Gift Annuities (ACGA).
