Presbyterian Foundation offers innovative gift program
JEFFERSONVILLE, IN
October 1, 2009 - Times are changing and the Presbyterian Foundation recognized that a gift plan that has been around since 1843 was ready for an update. Historically, the donor who selects a Charitable Gift Annuity makes a gift and receives lifetime income and upon their passing, the charitable beneficiary receives the charitable remainder. The innovative, new Charitable Gift Annuity program offered by the Presbyterian Foundation still provides the donor with an attractive lifetime income, but now, in most cases*, the gift portion will be made available to the charity named by the donor immediately. This approach allows the donor to witness the impact of their giving during their lifetime. The charity receives an immediate gift which is always welcome.
“This innovative program will provide a very powerful tool for every ministry within the Presbyterian Church to immediately impact its mission funding,” stated Paul H. Grier, Acting Vice President of Development for the Presbyterian Foundation. He added, “The average length of time that a ministry traditionally waits for funds from a Charitable Gift Annuity is about 12 years. Imagine how
many lives could be impacted during those years if the gift portion was available now!”
click on the image to view available Gift Annuity resources
The new Charitable Gift Annuity program was effective
August 1, 2009 and adopts the rates recommended by the American Council on Gift Annuities. Gifts are accepted at $10,000 and above and can be for one or two lives. The current single life annuity rates range from 5.3% at 55 (minimum age) to 9.5% at age 90+. Annuity rates for two lives range from 4.1% at younger ages to as much as 9.3% for older annuitants.
For over 200 years, the Presbyterian Foundation has served as an advocate for churches and mission partners while functioning as a trusted provider of gift options for individuals.
* The Presbyterian Foundation may, in its sole discretion, reinsure a charitable gift annuity. If it does so, the present value of the charitable remainder will be paid to the beneficiary immediately. If the Foundation does not reinsure a particular charitable gift annuity, the charitable remainder will be paid at the end of the last annuitant’s life.
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The Presbyterian Foundation Group offers a wide range of products and services to individuals and institutions. The gift vehicles, investment management services, faith-based mutual funds, and other services and products reflect the principles of faithful stewardship shared by all Presbyterians. The Presbyterian Foundation Group is committed to working with donors and clients according to their needs and circumstances in an effort to help build, grow, preserve and provide financial resources in ways that maximize impact on their chosen mission or ministry.