Thank you for your interest in a Charitable Gift Annuity. It is a great way for you to make a meaningful gift that helps the Church in the future and immediately pays you a guaranteed income stream for the remainder of your life – usually at a much higher rate than what you might earn through dividends, CD’s or a savings account. In addition, you will probable be eligible to receive an income tax deduction that can be taken in the year the gift is made.

How does it work?
You contribute a gift in the form of a check or by transferring an asset such as stocks or land to the Archdiocese. In return, the Archdiocese guarantees to pay you a quarterly fixed payment based on your current age. The funds you give are used to generate a return sufficient to pay the annuity. Please see the sample chart for an illustration of the returns that can be generated. The returns are higher than CD or bond rates because the payout also incorporates a scheduled return of your principal investment over the course of your life expectancy. Returns are established by the American Council of Gift Annuities based on actuarial tables with the intent that some funds remain at the end of your life to provide charitable support to the Church or other non-profit organization.

How do I obtain a confidential, no-obligation illustration that provides my rate of return and other benefits?
Simply send an email now to the Archdiocese Director of Legacy Giving – Jim Edwards at jedwards@archbalt.org or call him directly at 410-916-6345. He or another staff member will get back to you as soon as possible.

How do I benefit?
You receive a guaranteed fixed income payment for your entire life. See the sample chart. You can also establish a two life Charitable Gift Annuity, calculated at somewhat lower rates, which provides a guaranteed fixed income payment for the entire life of you and your spouse. You are eligible for an immediate tax deduction based on a portion of your total contribution as a benefit for the future gift of whatever principal amount remains in the annuity after your death. This does not constitute tax advice. Your eligibility for this claiming deduction may vary according to your circumstances. Please consult with a tax advisor. Additionally, a portion of the income returned to you will be non-taxable since it includes a partial return of your principle.

How does the charity benefit?
After your death (and the death of your spouse in the case of a two life gift annuity), the remainder is distributed as you designate to the parish, parish school or the Archdiocese for the purpose you determined when the gift annuity was written. You could decide that the remainder be placed into your parish’s endowment or that it be used for tuition assistance at the school or perhaps it could be added to a named fund you created in the Catholic Family Foundation. You could also designate the proceeds to support a ministry of the Archdiocese such as inner-city Catholic School Scholarships, Seminarian Education, Priest Retirement, or Youth Ministry.