Charitable gift annuities can benefit you and Shriners Children's
In exchange for your irrevocable gift (of cash or securities), Shriners Children's agrees to pay one or two annuitants that you name a fixed sum each year for life. The payments never change and are backed by the general assets of Shriners Children's. Charitable Gift Annuities (CGAs) may be funded with a minimum of $5,000 and can be funded, in some instances, with appreciated securities.
The fixed rate of return is based on the age of the annuitant and any other beneficiary on the date the agreement is entered. Shriners Children's uses the suggested rate chart published by the American Council on Gift Annuities. The rate is set with the intention that Shriners Children's will retain approximately 50 percent of the donor's original gift. Payments can be made on an annual, semi-annual, quarterly or monthly basis.
Important benefits of the CGA program include:
- You may qualify for a charitable deduction, if you itemize on your income tax return.
- Your fixed annuity payments will be the same regardless of fluctuations in the economy.
- If you fund the CGA with appreciated securities, you may be taxed on only part of the gain.
- Your estate may enjoy reduced probate fees and estate taxes.
- Your gift will help children get the medical care they need and your generous support will be recognized by Shriners Children's.
Please note, under government rules, a contribution for a gift annuity is irrevocable and the principal you contribute cannot be returned. Shriners Children's Charitable Gift Annuities may not be available in certain states.
Charitable Gift Annuity Calculator
See How a Charitable Gift Annuity Works for You
If you are 70 ½ years old or older, you now have the option to fund your charitable gift annuity with IRA assets. You may make a one-time election for a qualified charitable distribution of up to $54,000 (without being taxed on the gift). While there is no charitable deduction for a gift from your IRA assets*, it is free of federal income tax and may count towards your annual required minimum distribution, and can be excluded from your gross income. This option is only available for you and/or your spouse, and all payments are taxed as ordinary income. Payments must begin within one year of when you fund your gift annuity.
*If the qualified charitable distribution is made directly from your IRA.
For More Information
For more information on supporting Shriners Hospitals for Children® through a planned gift, please contact the Planned and Major Gift office at 813-367-2241 or by email at plannedgiving@shrinenet.org. Shriners Hospitals for Children® is a fully qualified 501(c)(3) charitable organization under IRS regulations. Donations are tax-deductible to the fullest extent provided by law.
California residents: Annuities are subject to regulation by the State of California. Payments under such agreements, however, are not protected or otherwise guaranteed by any government agency or the California Life and Health Insurance Guarantee Association. Oklahoma residents: A charitable gift annuity is not regulated by the Oklahoma Insurance Department and is not protected by a guaranty association affiliated with the Oklahoma Insurance Department. South Dakota residents: Charitable gift annuities are not regulated by and are not under the jurisdiction of the South Dakota Division of Insurance.
- Deductions, calculations and requirements will vary depending on your personal circumstances.
- Rates are subject to change. Please contact us for a personalized illustration.
- Please note that Shriners Hospitals for Children does not issue charitable gift annuities in Alabama.
Shriners Children's™ is a registered name under which Shriners Hospitals for Children® conducts activities.
