Investing with Faith / Joanna Feltz

Gift annuities can be gift that keeps giving back

I can hardly believe it myself, but it is already Lent! As we reflect on the season, we have to consider the three pillars of Lent: fasting, prayer and almsgiving.

Typically, we think of Lent as 40 days where we pay special attention to these areas in preparation of Holy Week and Easter. But, really, 40 days isn’t that long. How can we fulfill our Lenten devotions year-round or for years to come?

While we are all called to focus on almsgiving during this time of year, through planned giving you can make a positive impact on the Church immediately and in the future.

In my last column, I shared how to give through bequests and beneficiary designations, but there are so many more ways to give.

Charitable gift annuities are an extremely popular way for a donor to make a difference in people’s lives while receiving financial benefits. This gifting option is perfect for donors who want to make a gift to the Church, but need money to supplement income for several years.

To execute, the donor contributes property (such as cash or stock) to the archdiocesan Catholic Community Foundation (CCF). In return, the foundation agrees to pay the donor or their designated beneficiary income for life or a period of years.

Unlike a commercial annuity, a charitable gift annuity has a distinct charitable gift component.

Charitable gift annuities are popular because they allow donors the opportunity to make significant gifts they may not have thought were possible. Additionally, a charitable gift annuity grants the donor an immediate charitable income tax deduction. Setting up a charitable gift annuity through CCF is easy, and we are able to help you through every step of the process.

If you are looking for an easy-to-understand, user-friendly way to make planned giving part of your Lenten almsgiving, a charitable gift annuity could be right for you. My team at the Catholic Community Foundation can explain the process in more detail and answer any questions you may have.

Reach out to me by e-mail at jfeltz@archindy.org or by phone at 1-800-382-9836, ext. 1482, or 317-236-1482. Consider investing in your faith through planned giving.
 

(Joanna Feltz, J.D., is director of planned giving for the Catholic Community Foundation in the Archdiocese of Indianapolis, and consultant to the law firm Woods, Weidenmiller, Michetti, Rudnick & Galbraith PLLC. For more information about planned giving, log on to www.archindy.org/plannedgiving. Tax information or legal information provided herein is not intended as tax or legal advice and cannot be relied on to avoid statutory penalties. Always check with your legal, tax and financial advisors before implementing any gift plan.) †