A Deferred Charitable Gift Annuity (DCGA) is an agreement between a donor and a Qualified charity. The donor makes a gift to the charity in exchange for a deferred lifelong income stream.
Donors may choose to have payments made to themselves or another person for his or her natural life. Or a couple may choose to have payments made until the last spouse passes away.
The annuity rate depends on two variables: when payments begin, and whether the annuity is based on one life (an individual) or two lives (a couple). The longer payments are deferred, the greater the payment, and the payout will be greater for one life than it will be for two lives. The income stream is guaranteed by Stewards Foundation for the life of the beneficiary.
DCGAs issued by Stewards Foundation are as secure as Stewards Foundation. The entire amount contributed is held in a separate account for investment and annuity payments. Upon the beneficiary’s death, the remaining balance will go to Stewards Foundation.
There are several tax benefits. When you enter into the agreement you will receive an immediate charitable tax deduction. A portion of each payment you receive is considered tax-exempt. Finally, the DCGA is generally not included in your estate for estate and inheritance tax purposes.
Call us to discuss how a Deferred Charitable Gift Annuity will benefit you and assist Stewards Foundation in our service to assemblies of the Lord’s people and their commended workers.