You’ve heard the phrase “a gift that keeps on giving.” Well, let me tell you about a way you can give a gift and receiving additional income for the rest of your life. Truly a gift that keeps giving – to you!
I call these types of gifts Life Income Gifts. One specific Life Income Gift is a Charitable Gift Annuity. I know that annuities are not always appreciated by people, but this type of annuity is a little different. You see, instead of an insurance company selling a policy that benefits them in the end, a Charitable Gift Annuity is designed to benefit ministry in the end.
Here is a quick explanation:
You create a Charitable Gift Annuity with a donation of $10,000 or more. We at KML use the WELS Foundation to manage the money and to pay you every year. Yes, you will receive a payment every year for the rest of your life, and much of that will be tax-free income. The amount you receive is determined by a few details such as the size of your gift and your age, but the rate of return is higher than a typical money market or savings account. You also receive a very generous tax deduction for your gift. At the time you go to heaven, the remainder of your gift is giving to your designated charity which could be your church, KML, or other ministry.
In summary, you give a donation to charity, and you will receive a consistent income for the rest of your life. This really is a gift that keeps on giving – to you and to KML.
Call or email me to learn more about this type of life income gift. I look forward to hearing from you. Contact me at 262-677-4051 or paul.snamiska@kmlhs.org.