GIFT PLANNING

CGA rates at a 10-year high

Good news for donors!

Highest Charitable Gift Annuity rates in a decade pay you more

In the current uncertain economy, many donors have used Charitable Gift Annuities (CGA) to provide stable, guaranteed lifetime income. And, as a result of higher interest rates, opening a CGA now locks in higher CGA payout rates for life. Boost your income while continuing your support for the Bon Secours Mercy Health services you care about the most.

A Charitable Gift Annuity (CGA)

  • Fixed payment amounts for life to you and/or another beneficiary
  • Receive an immediate tax deduction
  • Remaining principal passes to the Foundation after the beneficiary’s lifetime
  • Single Life Suggested Maximum Gift Annuity Rates

    Effective January 1, 2023 as recommended by American Council on Gift Annuities

    • Age 60: 4.9% rate
    • Age 65: 5.4% rate
    • Age 70: 5.9% rate
    • Age 75: 6.6% rate
    • Age 80: 7.6% rate
    • Age 85: 8.7% rate
    • Age 90+: 9.7% rate

    Request a free customized CGA illustration to see the payments and tax benefits you could receive.

    Need to take a Required Minimum Distribution?

    Using a Qualified Charitable Distribution (QCD) to make a gift to the Foundation could be right for you

    Many donors need to take a required minimum distribution (RMD) from their IRA no later than the end of each year. In a perfect world, most would prefer to avoid the taxes that will be incurred when taking the RMD. For those donors, a QCD is a powerful tool for your charitable giving. If you’re over 70.5 with an IRA:

    • Give a QCD up to $100,000 and meet your RMD obligation
    • Avoid income taxes related to your RMD
    • Potentially reduce taxes owed on Social Security, as well as lower Medicare premiums
    • Under 70.5? Recommend a QCD for your parents’ planning

    Donating appreciated assets saves you more

    Donating appreciated assets is a smart, tax-efficient way to give to the Foundation

    In addition to a charitable deduction, you also avoid income and capital gains taxes on the gains.

    • Donate appreciated stocks, bonds, mutual funds owned more than one year
    • Make an outright gift today or use the assets to fund a CGA
    • Get an immediate charitable income tax deduction
    • Possibly avoid capital gains taxes

    Donor Spotlight

    donor | Bon Secours Mercy Health Foundation

    Meet Tara & Billy

    Funding a CGA helps the Millers support the Foundation, avoid capital gains taxes and increase retirement income.

    Our team members are happy to assist you!

    Brad Blandin

    Vice President of Charitable Estate & Gift Planning

    ✉ [email protected]
    📞 (419) 251-1803