What if you could receive fixed payments for life and benefit your church in the future?
A Charitable Gift Annuity is a simple agreement between you and the Baptist Foundation in which the Foundation agrees to pay you a fixed annual amount to yourself, or to yourself and your spouse or another party, for life in exchange for your contribution of cash or property. The amount paid to you will be based upon your age (or the combined ages of two annuitants, if a two-life annuity is requested) on the date of the gift.
In addition to receiving fixed payments for life, you will also receive a tax deduction in the year in which the gift is made. Further, if the gift is made with appreciated stocks or other securities, you can avoid up-front capital gains tax as well!
After your lifetime (or the lifetimes of both annuitants for two-life annuities), funds remaining in the gift annuity are transferred to the ministry or ministries that YOU have chosen, either outright or through an endowment relationship. Individuals may choose to leave their gift annuity funds to their church, another Baptist cause, such as the Cooperative Program, International, North American, or state missions, our Baptist universities, or another Baptist ministry. Annuity funds may be designated for one ministry or multiple ministries in the proportions YOU choose.
Minimum Contribution Amount - The minimum contribution amount to establish a gift annuity through the Baptist Foundation of SC is $10,000 in cash or marketable securities. Additional contributions cannot be made to an existing gift annuity. If you have additional funds to contribution at a later date, simply establish another gift annuity.
Annuity Payments - You can choose to receive your annuity payments monthly, quarterly, semi-annually or annually. The fixed annual payments, established at the time the annuity is established, will continue to be made for the lifetime(s) of the annuitant(s). Payments can be made by check or deposited directly to the annuitant's bank account.
Gift Annuity Rates - The Baptist Foundation pays gift annuity rates based on those suggested by the American Council on Gift Annuities. The older you are, the higher the rate paid. The rates for a two-life gift annuity are slightly lower than for a one-life gift annuity since payments will continue to be made to the surviving party. Current rates for selected ages are listed below:
One Life: Two Lives:
|
Age
|
Rate |
Younger Age |
Older Age |
Rate |
|
60
|
4.4% |
60 |
65 |
4.0% |
| 65 |
4.7% |
65 |
70 |
4.4% |
| 70 |
5.1% |
70 |
75 |
4.8% |
| 75 |
5.8% |
75 |
80 |
5.3% |
| 80 |
6.8% |
80 |
85 |
6.1% |
| 85 |
7.8% |
85 |
90 |
7.3% |
| 90+ |
9.0% |
90 |
95+ |
8.8% |
If you'd like additional information or if you'd like a quote of the one- or two-life rate you would qualify for, call the Foundation (800-723-7242, ext 8000 / 803-765-6193) or click on the link and complete the form below. A Foundation representative will assist you soon.
Charitable Gift Annuity Information Form
