Give To Us and We’ll Give You Something Back!

The charitable gift annuity has been called “longevity insurance.”  With ever-increasing lifespans, people want to be sure they don’t run out of money.  A charitable gift annuity offers that assurance.  No matter how long a person lives, the payments keep on coming.  And, in addition to enhancing their own financial security, donors have the personal satisfaction of providing for the future of The Chicago Lighthouse.

A charitable gift annuity (CGA) is a one-time gift from you to The Chicago Lighthouse that will always give back to you. With a CGA, you give cash or securities to The Lighthouse, and in return you receive an immediate charitable deduction and fixed income payments for the rest of your life.

You (or your designated beneficiary) will receive checks (quarterly, semiannually, or annually) from us that are:

• Fixed.  Whether the markets rise or fall, the payments will ALWAYS be the same
• Regular. The payments will ALWAYS be delivered on time
• Enduring. Whether you live to be 95 or 105, the payments will continue for the REST of your life
• Guaranteed and Secure.  You can count on it by law
• You know that you support the very important work of The Chicago Lighthouse

Tax benefits include an immediate income tax deduction for the annuity.  Part of each annuity payment will be tax-free, part will be taxed at ordinary income rates, and part may be at the applicable capital gains rate.  Finally, for an estate otherwise subject to estate taxes, substantial estate taxes can be saved.

Donors who might be interested in making a charitable gift include:

• People who are financially conservative and would like a secure lifetime income
• Those who have illiquid assets which have little or no cash flow (for example, stock with minimal or no dividends)
• People who could use a charitable tax deduction
• Those who are trying to plan financially
• People who would like to receive something tangible back from the Lighthouse in return for their gift

Is a charitable gift annuity right for you?

If you want to combine a gift to The Lighthouse with a secure life income, plus you need a tax advantage from your gift, then a charitable gift annuity may be right for you.  Plus, a charitable gift annuity can be written for two lives, with the second person continuing to receive payments at the same rate as the first one.

In order to make a charitable gift annuity, you need to be age 60 years or over.  Where a deferred charitable gift annuity is being offered, you need to be at least age 60 when the annuity payments begin.  Gifts need to be at least $10,000, and you must have your primary residence (and file your taxes) in Illinois.

We are happy to prepare a personalized, free illustration of rates, payments and tax benefits for a proposed charitable gift annuity.

Feel free to call Jennifer E. Miller, Director of Development, (312) 997 3643, or e-mail her for more information: Jennifer.Miller@chicagolighthouse.org.