The Oklahoma City Community Foundation can help you make a gift to your favorite charitable cause and receive a guaranteed, secure “paycheck” for life with a charitable gift annuity (CGA).
CGAs may be used to support or establish any charitable fund at the Oklahoma City Community Foundation, including scholarships. Retired professor Steve Kamm (pictured above) established a CGA that provides him with an annual income stream. The remainder of the annuity will support a scholarship for international students attending Oklahoma City Community College.
“When I learned that most financial aid programs are not available to international students, I wanted to find a way to help,” Steve said. “My financial advisor suggested the Oklahoma City Community Foundation.”
How Does a Charitable Gift Annuity Work?
Act fast, these rates will only be applicable through Dec. 31, 2019.
Age 60 = 4.7%
Age 65 = 5.1%
Age 70 = 5.6%
Age 75 = 6.2%
Age 80 = 7.3%
Age 85 = 8.3%
Age 90+ = 9.5%
Source: American Council on Gift Annuities
- You make a tax-deductible gift (cash, securities, real estate or other assets) to the Community Foundation.
- We send you a guaranteed income for life (a percentage of the annuity based on your age).
- Your chosen charity receives the remaining balance in the annuity.
- Act before Jan. 1, 2020, to take advantage of the higher CGA payout rates.
For example, a 75-year old can expect to receive a 6.2% rate of return and an approximate charitable deduction of 45% of the face value of the contract.
Charitable Giving Guide:
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Looking for more giving options that can benefit both your community and your pocketbook? Check out 12 ways to get the biggest bang for your charitable dollar.