St. Vincent’s Charitable Giving Annuity Program

As we begin the New Year, it is a good time to take stock of your 2011 financial picture.

Did you have any significant gains with stocks?  Were you disappointed by the low rate of return from CDs and bonds?  Will you have to pay a lot in taxes?

If you answered “Yes” to any or all of these questions, you might consider a charitable gift annuity through St. Vincent’s. It is a way to take advantage of your stock gains. It is a way to increase your income on a tax-free basis in 2012. It is a great way to reduce your 2011 income tax at the same time. A charitable gift annuity pays you a guaranteed, fixed dollar amount each year for the rest of your life. The payment is based upon your age and is irrevocable. You can use cash or appreciated securities. When you have passed on, the remainder of the gift annuity transfers to St. Vincent’s as a gift for the future.

For example, if you are 84, you could receive an annual interest rate of approximately 8.2%, based upon the initial value of your gift. In return, you would receive lifetime income and an immediate income tax deduction. You can also include a second person in the contract, but rates will be lower. What the numbers mean in more practical terms is if you said “yes” to a charitable gift annuity with St. Vincent’s for $10,000, you’d receive an immediate income tax deduction of $5,299, along with an annual income of $820, paid quarterly. Also, of that $820, for the next eight years, $643 of it would be tax-free.

We can provide you with specific, no-obligation details of how a gift annuity can work for you and also about naming St.Vincent’s in your will. Please call St. Vincent’s at 805 - 683 - 6381 for information. Contact us.