A way to give – and keep on receiving
A gift annuity through Mennonite Foundation is a great way to help The Fuller Center for Housing while securing your future. It’s a gift that provides you with guaranteed payments for life and frees you from managing funds that you intend to eventually give away. The Fuller Center uses Mennonite Foundation to administer planned charitable gifts.
How it works
You give a gift to Mennonite Foundation designated for The Fuller Center. In return, we give you guaranteed annuity payments at a fixed rate for the rest of your life. In addition, you get substantial tax savings. Most people can deduct a significant part of their gift right away. Plus, part of the annuity payments you receive may be tax-free. Of course, you also get the satisfaction of knowing The Fuller Center will benefit from your generosity.
How to give a gift
It’s easy to set up a gift annuity. All you need to do is fill out a simple form and write a check – we take care of the rest. There are no legal fees to contend with. Plus, you’ll get the free advice you need from your Fuller Center and Mennonite Foundation representatives. You can make your gift as large as you like – and you can divide it among as many charities as you please. The minimum contribution is $5,000. Your contribution can be in the form of cash or marketable secu-rities (stocks, bonds, etc.).
What The Fuller Center receives
We are delighted to receive funds through a gift annuity. The gift annuity ensures that we receive the part of your gift which is left after your death. It also allows us to anticipate future donations and plan accordingly.
What you receive
In return for your gift, you receive guaranteed annuity payments for life. You can begin receiving these payments immediately or defer them until a later time. If you’re still working, you may wish to defer receiving payments until after you retire. You can choose whether you’d like to receive the payments yourself or jointly with a spouse – or you can designate someone else as an annuitant. The payments can be sent to you quarterly, semiannually, or annually. The fixed annuity rate is determined by your age when you give a gift and your age when you choose to begin receiving payments.
When you give a gift, you’ll also see significant tax savings in two areas. First, you receive a charitable income tax deduction for a portion of your gift. The older you are, the greater your deduction. Second, part of each annuity payment you receive may be tax-free. (After you reach your projected life expectancy, all payments will be fully taxable, but you may then be in a lower income tax bracket.)
If you have questions or would like to talk more about planned giving programs, call Fuller Center headquarters at 229-924-2900.
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