Charitable Gift Annuity from Mike Kura, Haven of Rest Ministries’ Board President
By Lucy Hackett
Many people who desire to financially support charities they care about have chosen a giving vehicle called Charitable Gift Annuity (CGA). This simple arrangement involves a charitable gift and an ongoing income. Individuals can give, while also receiving a permanent income stream for life. CGAs are often an excellent fit for anyone who lives on a fixed income or is concerned about outliving their retirement – but still wants to live generously.
Here’s how CGAs work:
- You make a charitable contribution to fund your CGA (part of which is tax deductible). You can give cash or publicly-traded securities.
- You receive fixed payments each year (monthly, quarterly, or annually) via check or direct deposit into your bank account.
- Your gift goes on to support the charity throughout your lifetime, after which the remaining value benefits your favorite charity.
For more information, contact Chris Bugg at 330-535-1563 or cbugg@havenofrest.org.
This material has been prepared to provide general information regarding the subject matter covered. It is not intended to serve as legal, tax, or other financial advice. You should consult with your own attorney, CPA, or other advisor regarding your specific circumstance.
