A Charitable Gift Annuity (CGA) is a simple contract between you and Mercy Airlift in which you make a gift to Mercy Airlift, and we agree to pay you an annual fixed-income amount for the rest of your life.
Your benefits include the following:
- Mercy Airlift pays one or two annuitants a fixed income annually for as long as either lives
- You receive a charitable tax deduction, if you itemize your taxes
- Part of each income payment is usually tax-free
- Payments can be made to you annually, semi-annually, or quarterly and deposited directly into your bank account or mailed to your residence
- The older you are, the higher your payout rate
- Plus, you have the satisfaction of knowing that you continue to help those who are in great need
Here’s an example of how a CGA works:
Tom, age 72, gives Mercy Airlift a gift of $50,000. In return, Mercy Airlift promises to pay Tom $2,950 annually for as long as he lives. Tom also receives a charitable tax deduction of $19,083.
When Tom dies, the remainder of his balance is used to help Mercy Airlift.
A Deferred Charitable Gift Annuity: If you don’t need additional income now, a Deferred Charitable Gift Annuity may be a good choice for you. This type of annuity allows you to decide when your payments begin.
The longer you defer your annuity, the higher your payout rate. Plus, you will receive a significantly larger income tax deduction in the year the annuity is established.
Mercy Airlift follows the rates established by the American Council on Gift Annuities and rates are subject to change. You must be 60 years old to begin receiving payments. The minimum amount to create a CGA is $10,000.
Please contact Mercy Airlift for more information.
The purpose of this web page is to provide information of a general nature only. Mercy Airlift is not engaged in providing legal or tax advice. Please consult with your attorney or financial advisor when considering a charitable gift of any type.