Life Income Gifts – Fast Facts

Fast Fact: Lifetime income gifts are smart and powerful ways to support David’s House AND provide income for your family! 

Fast Fact: Charitable gift annuities allow you to support David’s House AND receive mostly tax-free income for life! 

Fast Fact: Charitable remainder trusts are a tax-wise way to gift property you no longer want or need to David’s House while receiving income for life.

Fast Fact: Once you initiate a gift annuity, your payment amount is established for life! 

Read below for more detailed questions and answers about charitable gift annuities and charitable remainder trusts or contact Greg Vander Goot at 616-284-4383 or gvandergoot@dhmin.org for more information.

Q: I want to give more to ministry, but I’m concerned about retirement income. Is there a giving solution for me?

A:  Life income gifts are wonderful solutions for those who wish to give in a substantial way, but are concerned about having enough to meet their family’s needs. You can give cash or other property, and receive steady income for the rest of your life (or a designated number of years). The remainder will go to support the important mission of David’s House.

Q: How much income will I receive from a charitable gift annuity?

A:  Your income from a charitable gift annuity (CGA) depends on your age and the original gift amount. Each year (or quarter) you’ll receive a percentage of your original gift. The older you are when you begin the gift annuity, the higher the percentage – and the bigger the payment!

For example, if you’re a single 70-year-old, you’ll receive a payment rate of 5.1% of your gift for the rest of your life. The rate for a single 80-year-old is currently 6.9%. These examples follow the recommended rates set by the American Council on Gift Annuities.*

*Rates as of January 1, 2020. Subject to change. Request your personalized CGA proposal by contacting Greg Vander Goot at 616-284-4383 or gvandergoot@dhmin.org

Q: How secure is my gift annuity?

A: A charitable gift annuity is as secure as the organization that secures it. David’s House Ministries partners with Barnabas Foundation for issuing and overseeing charitable gift annuities. When you establish a gift annuity through Barnabas Foundation, you can have confidence knowing your annuity is administered by – and backed by the assets of – a trusted, well-established organization that has been helping Christians accomplish their charitable goals since 1976. 

Q: How does a charitable remainder trust (CRT) work?

A:  Charitable remainder trusts are powerful, tax-wise gifts that enable you to support David’s House while securing lifetime payments for you and your loved ones. It’s as easy as 1, 2, 3!

  1. 1. Create a CRT and make a gift to it. Contributions may include cash, publicly traded securities, some types of closely held stock, real estate and other non-cash assets.
  2. 2. Receive ongoing payments for one or more individuals, including yourself.
  3. 3. Remaining assets are distributed to David’s House upon termination of the trust.

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