A Charitable Gift Annuity is one way that donors can support their parish, school, and other Catholic organizations while retaining an income during their lifetime. This gift provides a fixed income for one or two lives and the residual is then donated to the parish, school, or other ministry at the time of their death.
A minimum gift of $10,000 is required and donors may use the Gift Calculator on the website to see what their fixed rate would be based on their current age. A charitable tax deduction is available in the year of the gift and a portion of the income received is treated as tax free for a period of years.
Click here fo an application for a Charitable Gift Annuity. You may contact the Catholic Foundation office for a personal proposal.
Fr. Ted Tempel on Charitable Gift Annuities: