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The Charitable Gift Annuity Program

Are you tired of the low rates on bank CDs? Do you have appreciated stock that pays you little or no dividends? Is it time to withdraw money from your IRA? Are you too heavily invested in stock with one company? If these are questions you face, a charitable gift annuity might be the answer you're looking for!

MFS is pleased to annnounce the establishment of a Charitable Gift Annuity program in partnership with Friends Fiduciary Corporation, a Quaker non-profit corporation which supplies financial services to Quaker institutions.

What is a charitable gift annuity?

A charitable gift annuity is a type of planned gift in which the donor contributes stock or cash to a non-profit organization and receives a fixed income payment for his or her life. In addition, the donor receives a federal income tax deduction for a portion of the gift. The rate of the income payment is tied directly to the age of the donor at the time of the gift. The rates are set by the American Council on Gift Annuities (ACGA), a national organization of charities that has been inexistence since 1927. The minimum amount needed to establish a charitable gift annuity is $10,000. The minimum age for a donor (income beneficiary) is 50.

The current ACGA annuity rates and annual payments for a $10,000 charitable gift annuity are as follows:

To receive a personal illustration of how a Charitable Gift Annuity could benefit you, please contact Director of Development Steve Zakroff at (856) 914-4411 or email szakroff@mfriends.org.

MFS is not providing legal or tax advice. Please consult with an attorney or professional advisor for advice on these types of gifts.

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