Charitable Gift Annuities: A Gift That Lets You Give and Receive
If you are interested in securing the Minnesota Orchestra's future while also receiving fixed, dependable payments for life, now may be a good time to consider a charitable gift annuity.
This year the American Council on Gift Annuities announced a new rate table that increased the gift annuity rates for certain ages. In a gift annuity arrangement, you donate cash or publicly traded securities to the Orchestra, and in return you or a loved one receive fixed payments for life based on the age of the annuitant. After all payments have been made, the Orchestra will receive the assets remaining in the gift annuity contract to use for its charitable purposes.
Laureate Society member Robert Peterson chose to establish a charitable gift annuity for its dual benefits: tax-favored, dependable payments for him and a generous future gift for the Orchestra. "It's a win for both of us. But more than that, it's a way to make a deferred gift and feel good about it while you are alive," Robert says.
Many gift annuity donors, including Robert, enjoy the simplicity and the benefits of a gift annuity so much that they have established more than one with the Orchestra. While Robert feels fortunate to have the resources to support many causes and interests, he feels most strongly about the Orchestra. "The world would be a sad place without music," he observes. "So I like knowing my gift is there for the Orchestra's future."