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An Example of How It WorksRead More
An Example of How It Works
Dennis, 66, and Mary, 65, want to make a contribution to Concordia College but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity.
Based on their ages, they will receive a payment rate of 4.3%, which means that they will receive $860 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $5,414* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support our mission.
*Based on a 2.4% charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.
- Contact Trina Hall at 218.299.3445 or firstname.lastname@example.org for additional information on charitable gift annuities or to chat more about the personal benefits of creating an annuity with Concordia College.
- Seek the advice of your financial or legal advisor.
- If you include Concordia College in your plans, please use our legal name and federal tax ID.
Legal Name: Concordia College
Address: Moorhead, MN
Federal Tax ID Number: 41-0693977