Charitable Gift Annuities

“Now there are varieties of gifts, but the same Spirit; and there are varieties of services, but the same Lord; and there are varieties of activities, but it is the same God who activates all of them in everyone. To each is given the manifestation of the Spirit for the common good.” 1 Corinthians 12:4-7

The Holy Spirit brought the early Church alive by giving individuals gifts that would sustain the Church.  By sharing your gifts, you can keep the church alive for years to come.

Charitable Gift Annuity

The Diocese of Kansas City-St. Joseph sponsors a charitable gift annuity program for donors 65 or older willing to make a gift of at least $5,000 that will eventually pass to a parish, school, ministry or the diocese. In return for a gift that will pass after death, a charitable gift annuity generates fixed payments for life to you (and/or someone you designate).

The annuity will replace and may actually increase the cash flow from the assets used to fund it.

How does it work?

The annuity is a simple contract between you and the Diocese of Kansas City-St. Joseph. Annuity payments are a general obligation of the diocese.

You may fund your annuity with cash or appreciated property. All property accepted to fund a gift annuity is invested by the Diocese to support annuity payments.

The amount you receive as income is determined by the amount you contribute and your age; the older you are, the higher your payment rate. Gift annuity rates are those set by the Board of the American Council of Gift Annuities. Payments are generally made quarterly.

Tax Treatment

  • If you are one of the annuitants and you fund the annuity with appreciated securities, there is no upfront capital gains tax.
  • Your initial contribution is eligible for a charitable tax deduction, if your tax situation allows.
  • A portion of each payment is a tax-free return of your principal. If funded with appreciated securities, the taxable portion is taxed at the capital gain rates.

For more information and a personalized illustration, contact Laura Gray, Planned Giving Director, 816-714-2363 or gray@diocesekcsj.org. Please use the link below to download the form.

Charitable Gift Annuity Certificate Application

Please consult with your own attorney and other professional advisors regarding your personal tax and financial situation.

 

©2018 Diocese of Kansas City–St. Joseph

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