CMMB’s Charitable Gift Annuity (CGA) is a way for you to make a charitable gift that helps CMMB to reach the most vulnerable with care, and guarantees a fixed lifetime income for you and/or someone you designate, a portion of which is tax free.
How Does it Work?
- You donate cash, stocks, bonds, or mutual funds to CMMB and ask us to establish a gift annuity.
- You may choose from three types of Charitable Gift Annuity: Immediate Pay or Deferred Pay
- You can choose your preferred payment schedule. You may choose to have that annual amount distributed monthly, quarterly, semi-annually, or annually.
- Once we finalize the gift annuity agreement, we will begin paying a fixed, guaranteed amount of lifetime income to you and/or anyone you name based on your selected schedule.
- After your lifetime and/or that of your selected beneficiary, we will use the remaining principal from your gift to continue our lifesaving work around the world.
Tell Me More About the Benefits
- A charitable gift annuity immediately provides you with a fixed income, part of which is tax free.
- Annuity payments are guaranteed by CMMB for life.
- You are entitled to a charitable tax deduction when you itemize your federal income taxes.
- Your gift will help you now—and make a difference in the lives of the poorest and most vulnerable people for generations to come.
Do Charitable Gift Annuities Have a Place in Retirement Planning?
Yes! A gift annuity can add income, diversification, and reliability to a retirement plan.
- Guaranteed lifetime income reduces risk.
- The combination of high-yield, tax-free income, a charitable income tax deduction and, in some cases, a reduction in capital gains taxes can markedly improve the performance of a retirement plan.
- Remember, a gift annuity is not a traditional investment instrument. A distinct difference is the irrevocable nature of a gift annuity. Once established, you cannot change or reinvest a charitable gift annuity in another way.
CMMB follows the American Council on Gift Annuities recommended rates, which provide a reasonable return to annuitants while giving CMMB the support it needs to reach the most vulnerable with improved access to health.
Gift Annuity Requirements
- A minimum investment of $10,000 is required to open a gift annuity.
- You or your named annuitant must be 55 years or older to open an immediate gift annuity.
For more information or to request a gift annunity Summary of Benefits, contact Robert Wuillamey at firstname.lastname@example.org to discuss different options.