Charitable Gift Annuity

A charitable gift annuity is a relatively simple and very common method of making a planned gift to a non-profit organization. A gift annuity provides the financial advantage of income and tax benefits for donors as well as the satisfaction of making a contribution towards doing ministry for the kingdom. A gift annuity is a simple contract between you and New Salem by which you contribute assets of $10,000 or more, usually cash or stock, in exchange for a specific dollar amount of income for life in the form of a regular annuity payment. The payment to you is set at a fixed percentage based on your age and it will never decrease. Payments can be received immediately, or they can be deferred. An annuity can be for an individual donor, a donor and spouse or a loved one. 

In the year the annuity is arranged, you will be eligible for an income tax deduction. In addition, a portion of the payments you receive from New Salem will be income-tax free.

Consult a licensed attorney for further information on giving through a charitable gift annuity.