Franklin Ohio Charitable Gift Annuity

• Category: Gifts - Donations
• State: Multi-State
• County: Franklin
• Control #: US-1340742BG
• Format: Word; Rich Text

Description

A charitable gift annuity is a gift vehicle that falls in the category of planned giving. It involves a contract between a donor and a charity, whereby the donor transfers cash or property to the charity in exchange for a partial tax deduction and a lifetime stream of annual income from the charity. Franklin Ohio Charitable Gift Annuity is a philanthropic financial tool that allows individuals to make a generous donation to a charitable organization while ensuring a lifetime income stream for themselves or a loved one. By making a charitable gift annuity, the donor can support a cause close to their heart while enjoying tax benefits and a reliable source of income. A charitable gift annuity involves transferring assets, typically cash or securities, to a charitable organization based in Franklin, Ohio, in exchange for a fixed income for life. The fixed income payments are determined by factors such as the donor's age, the value of the donated assets, and prevailing interest rates. This provides donors with the advantage of receiving a predictable income and the potential for higher returns compared to other low-risk investments. Charitable gift annuities offered by organizations in Franklin, Ohio, typically fall into two categories: 1. Immediate Payment Gift Annuity: This type of gift annuity provides immediate income payments to the donor for life, starting right after the initial donation is made. This is an ideal option for individuals seeking immediate income to supplement their retirement or meet other financial needs while supporting charitable causes. 2. Deferred Payment Gift Annuity: With a deferred gift annuity, the donor can delay the income payments for a specified period of time. This allows for the accumulation of higher income payments in the future, which can be advantageous for individuals who have longer-term charitable goals or who wish to maximize their income during retirement. Franklin, Ohio Charitable Gift Annuity brings together the dual benefits of philanthropy and financial security. Donors have the satisfaction of making a positive impact on their community while enjoying a dependable income stream. Additionally, donors may also benefit from significant tax advantages, including an income tax deduction for a portion of the donated assets, potential capital gains tax savings, and potential estate tax benefits. To explore the options and potential benefits of a Franklin Ohio Charitable Gift Annuity, individuals are encouraged to consult with a financial advisor or contact reputable charitable organizations in Franklin, Ohio that offer this service. By considering this charitable giving option, individuals can leave a lasting legacy while fulfilling their financial and philanthropic objectives.

Franklin Ohio Charitable Gift Annuity is a philanthropic financial tool that allows individuals to make a generous donation to a charitable organization while ensuring a lifetime income stream for themselves or a loved one. By making a charitable gift annuity, the donor can support a cause close to their heart while enjoying tax benefits and a reliable source of income. A charitable gift annuity involves transferring assets, typically cash or securities, to a charitable organization based in Franklin, Ohio, in exchange for a fixed income for life. The fixed income payments are determined by factors such as the donor's age, the value of the donated assets, and prevailing interest rates. This provides donors with the advantage of receiving a predictable income and the potential for higher returns compared to other low-risk investments. Charitable gift annuities offered by organizations in Franklin, Ohio, typically fall into two categories: 1. Immediate Payment Gift Annuity: This type of gift annuity provides immediate income payments to the donor for life, starting right after the initial donation is made. This is an ideal option for individuals seeking immediate income to supplement their retirement or meet other financial needs while supporting charitable causes. 2. Deferred Payment Gift Annuity: With a deferred gift annuity, the donor can delay the income payments for a specified period of time. This allows for the accumulation of higher income payments in the future, which can be advantageous for individuals who have longer-term charitable goals or who wish to maximize their income during retirement. Franklin, Ohio Charitable Gift Annuity brings together the dual benefits of philanthropy and financial security. Donors have the satisfaction of making a positive impact on their community while enjoying a dependable income stream. Additionally, donors may also benefit from significant tax advantages, including an income tax deduction for a portion of the donated assets, potential capital gains tax savings, and potential estate tax benefits. To explore the options and potential benefits of a Franklin Ohio Charitable Gift Annuity, individuals are encouraged to consult with a financial advisor or contact reputable charitable organizations in Franklin, Ohio that offer this service. By considering this charitable giving option, individuals can leave a lasting legacy while fulfilling their financial and philanthropic objectives.