Give Generously to Ministry and Receive Income for Life.
Are you looking for a secure source of fixed income for now or your future? A charitable gift annuity provides regular income for you and your spouse while generating a potential tax deduction.
How It Works
A Charitable Gift Annuity is a contract between you and Assemblies of God Foundation (AGF). You transfer cash or securities to AGF and in exchange you are paid fixed income for life. Payments and rates are calculated based on your age at the time your gift is funded. A portion of your income stream may even be tax-free. You will receive a charitable deduction for your gift of the remainder to ministry and enjoy the satisfaction of furthering ministry work.
Types of Assets You May Give
If you decide to fund your Gift Annuity with cash, a significant portion of the annuity income will be tax-free. You may make a gift of your appreciated securities to fund a gift annuity and avoid a portion of the capital gains tax. The funding minimum is $5,000.
Charitable Gift Annuity Options
1. Start Receiving Payments Now with an Immediate Charitable Gift Annuity.
If you desire current income, you may transfer cash or securities in exchange for a contract for payment to begin within 4 weeks. You will receive a current income tax charitable deduction for the value of your gift to AG Foundation.
2. Choose a Future Date to Receive Payments with a Deferred Charitable Gift Annuity.
Perhaps you want to begin receiving income at a later date. Because of deferred payout, payout will be compressed into a shorter timeframe—so your payments will be calculated at a higher rate. You can establish a deferred gift annuity, receive a current charitable income tax deduction and receive payments at a designated future date. Best of all, because you deferred your payments, your annual payment will be higher than with an immediate annuity. Your planned giving consultant will be glad to discuss flexible date options for your future income.
Contact us about setting up your Charitable Gift Annuity today.
Charitable Gift Annuities are available in most states, but there are a few exceptions. Depending upon the laws of the state in which you live, your Assemblies of God Charitable Gift Annuity will be issued by the General Council of the Assemblies of God or Assemblies of God Foundation and will be a general obligation of the issuing organization. Assemblies of God Foundation is an affiliated entity of AG Financial Solutions. Charitable Gift Annuities are not available in Alabama, Hawaii, Montana, New Jersey, New York, or Washington.
Additional information for California residents:
Annuities are subject to regulation by the State of California. Payments under this agreement, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. AG Foundation does not practice law and no legal advice is provided. If you need legal advice, you should consult your own legal counsel.
Additional information for Oklahoma residents:
A Charitable Gift Annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department.
Additional information for South Dakota residents: Charitable Gift Annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.