A charitable gift annuity allows you to feel confident that you have a dependable, fixed income during your retirement years while also giving to KCU.
Not only does this gift provide you with regular payments and allow you to support KCU's mission, but when you create a charitable gift annuity you can receive a variety of tax benefits, including a federal income tax charitable deduction when you itemize.
Gifts That Pay
If you don't need your payments immediately, you can set up a deferred gift annuity. This allows you to delay receiving payments until a later date—such as when you reach retirement. To learn more, view and download this guide: Plan for Retirement With a Deferred Gift Annuity.
Scenario: Dr. Michael and Mary Penny
Research scientist, Michael Penny, 71, and his wife Mary, 70, want to make a contribution to KCU that will support our work for generations to come, but they also want to ensure that they have dependable income during their retirement years. They establish a $20,000 charitable gift annuity with KCU. Based on their ages, they will receive a payment rate of 4.5 percent, which means that they will receive $900 each year for the remainder of their lives. They're also eligible for a federal income tax charitable deduction of $6,129* when they itemize. Finally, they know that after their lifetimes, the remaining amount will be used to support our mission.
*Based on annual payments and a 3.2 percent charitable midterm federal rate. Deductions and calculations will vary depending on your personal circumstances.