To establish a CGA, you make a gift to Feeding America, our national partner. A minimum of $10,000 is required. Your gift will create dependable, fixed income for you (and someone else if you choose) for life. After your passing, the balance that remains in the annuity will support the work of the Blue Ridge Area Food Bank.
To read more about the details, click here.
A CGA can also qualify you for a variety of tax benefits depending on how you fund your gift. If you fund your gift annuity with cash or appreciated property, you qualify for a federal income tax deduction if you itemize. In addition, you can minimize capital gains taxes when you fund your gift with appreciated property.
And now, you can fund your gift using your IRA assets. If you are 70½ and older, you can make a one-time election of up to $50,000 to fund a gift annuity. While your gift does not qualify for an income tax deduction, it does escape income tax liability on the transfer and count toward all or part of your required minimum distributions.
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Input a few details and see how a charitable gift annuity can benefit you: Get a Personalized Example.
For more information, please contact Karen Ratzlaff at (540) 213-8404.
Join The Will to End Hunger Society and let us know when you name us as a beneficiary of an annuity or any other future gift in your estate. Download the Statement of Gift Intention Form and return it to us.
The decision to establish a Charitable Gift Annuity is best made with the counsel of your legal, tax, or financial adviser. The information provided here is for illustrative purposes only and should not be considered investment, legal, accounting, tax or other professional advice.