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Charitable Gift Annuity

Every afternoon is a chance to change a kid's future.

You can help our kids and help yourself by receiving steady payments during your retirement years with a charitable gift annuity.

How It Works
Through a simple contract, you agree to make a donation of cash or stock to the Boys & Girls Clubs of Palm Beach County. In return, you (and someone else, if you choose) receive a fixed amount of income each year for the rest of your lifetime.

In addition to providing a gift to the Boys & Girls Club and receiving fixed payments for life, you also receive these benefits:

  • Your initial gift is partially income tax–deductible.
  • Your charitable gift annuity payments are partially income tax–free throughout your estimated life expectancy.
  • Your payments are not affected by ups and downs in the economy.
  • The gift annuity can be for one or two people, so your spouse or another loved one can also receive payments for life.
  • If you use appreciated stock to make a gift, you can usually eliminate capital gains tax on a portion of the gift and spread the rest of the gain over your life expectancy.

 

Your Rate of Return
Generally, the older you are at the start of your payments, the higher your payments. These rates are the maximum rates recommended by the American Council on Gift Annuities and are adjusted periodically.

One Life

Your
Age

Rate of
Return

50

3.7%

55

4.0%

60

4.4%

65

4.7%

70

5.1%

75

5.8%

80

6.8%

85

7.8%

90+

9.0%

Two Lives

Your
Ages

Rate of
Return

50/55

3.3%

55/60

3.7%

60/65

4.0%

65/70

4.4%

70/75

4.8%

75/80

5.3%

80/85

6.1%

85/90

7.3%

90/95+

8.8%

 

Example
Sylvia, 70, established a $20,000 charitable gift annuity. Based on her age, she was able to receive an annuity rate of 5.1 percent. This means that we will pay her $1,020 each year for the remainder of her life, of which $768.06 is tax-free to her throughout her life expectancy. She’ll also receive a charitable deduction of $8,101 and may save $2,025 if she itemizes on her income taxes.  After her lifetime, the remaining amount is used to support our mission.

When you consider the tax benefits this compares to an investment with an effective rate of return of 7.1%.  The Charitable Gift Annuity is backed by the assets of Boys & Girls Clubs of America.  The income may start now or at a later date, such as retirement.  The rate of the annuity is based on the ages of the annuitants.

Receive Payments for Life

And Help Support the Boys & Girls Clubs of Palm Beach County

With a Boys & Girls Club Charitable Gift Annuity, you donate cash or stock to us and we, in return, provide you fixed annual payments for life.  The part of your donation that remains after your lifetime supports our programs.

Contact us at 561-683-3287 for a personalized illustration of how a gift annuity can benefit you or for more information.

Single Life

 CGA Rates
Age 55 – 4.0% Age 75 – 5.8%
Age 60 – 4.4% Age 80 – 6.8%
Age 65 – 4.7% Age 85 – 7.8%
Age 70 – 5.1% Age 90+ – 9.0%