A Charitable Gift Annuity is a planned gift for those that want to do something special for the Church or School, but at the same time need retirement income. These can be great opportunities to benefit both St. John's and your own retirement throught our local Catholic Development Foundation.
How do these Charitable Gift Annuities work? A donor makes a financial gift to St. John’s now, and in return receives quarterly annuity payments for life. Upon his or her passing, the residual value of the annuity fund is ‘released’ to do the good work intended by the donor. For example, a Charitable Gift Annuity could be used to establish a named scholarship for students to attend the Catholic School.
A charitable gift annuity can be immediate or deferred. An immediate charitable gift annuity starts making payments to you once it is established, whereas a deferred charitable gift annuity allows you to choose a future date to start payments. Both of these can be great options depending on your age and retirement plans.