ANNUITIES

Annuities for Saint Joseph provides an opportunity to enter into a charitable gift annuity program - a way to give to Saint Joseph Abbey and Seminary College while still retaining a lifetime interest in the donated assets.

A charitable gift annuity is an arrangement by which the donor executes a one-time cash gift (a minimum of $25,000 is our requirement) to the Abbey in exchange for guaranteed payments for his or her life, or for the joint lives of the donor and the donor's spouse. He or she then receives an income tax charitable deduction for the value of the donated assets less the present value of the annuity payments, based on I.R.S. tables. A percentage of each payment to the donor is excludable from income (i.e., tax-free) as a return of principle.

For example, assume a husband and wife, each age 70, transfer $100,000 cash to the Abbey, in exchange for a charitable gift annuity payable until the death of the second of the husband and wife to die. The Abbey will pay the couple $4,600 per year (i.e., at the current rate of 4.6% return). In addition to the annual payment of $4,600 (a portion of which will be received tax-free), the couple will receive an immediate charitable income tax deduction.

For more information, contact Debb De Noux at 985.867.2264 or by email at ddenoux@sjasc.edu.