CGA rates rise on January 1, 2024

Good news for donors! Charitable Gift Annuity rates increased again on January 1, 2024.

Lock in higher payouts with a new CGA, before rates drop

In the current uncertain economy, many donors have used Charitable Gift Annuities (CGA) to provide stable, guaranteed lifetime income.

What do even higher CGA rates mean for you? If you are 60 or older, you can:

  • Make a charitable donation to the Foundation by starting a CGA
  • New higher payout rates increase the amount of continuous, consistent payments you will receive for your lifetime

And if you're at least 70.5 years old, you can further maximize your donation benefits:

  • Use your required minimum distribution (RMD) from an IRA to fund a charitable gift annuity
  • Make a one-time tax-free qualified charitable distribution (QCD) up to $53,000 from your IRA to fund a CGA and have it count toward your RMD
  • It's a great way to lower your taxable income AND retain cash flow through CGA payments! 

Contact Brad Blandin for more details on these exciting ways to donate by calling (419) 251-1803 or emailing [email protected].

Current Charitable Gift Annuity Rates have risen an average 0.4% since 2023 increase

Single Life Suggested Maximum Gift Annuity Rates
Effective January 1, 2024 as recommended by American Council on Gift Annuities

  • Age 60: 5.2% rate
  • Age 65: 5.7% rate
  • Age 70: 6.3% rate
  • Age 75: 7.0% rate
  • Age 80: 8.1% rate
  • Age 85: 9.1% rate
  • Age 90+: 10.1% rate

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

About CGAs

  • 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

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
  • Make a one-time tax-free qualified charitable distribution (QCD) up to $53,000 from your IRA to fund a CGA and have it count toward your RMD 
  • 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.

For more information, contact us!

Brad Blandin
Vice President of Charitable Estate & Gift Planning

✉ [email protected]
📞 (419) 251-1803