Gifts that Return Income During Your Lifetime.
To learn how to make a gift to St. David’s that will return income to you during your lifetime, please email the Funding Future Committee ministry, and a member will contact you. Life income gifts are a way for you to make a charitable gift from your assets within your lifetime, yet still keep – and live on – the income. St. David’s has partnered with the Episcopal Church Foundation to manage life income gifts. Assets are transferred to the Episcopal Church Foundation. This entity invests the assets and produces income which is paid to you and/or your spouse (or another person if desired). The income can be paid for the duration of your life or, in some cases, for a specified number of years. As the charitable beneficiary, St. David’s will receive the asset value when the gift matures.
The most common types of life income gifts include:
Pooled Income Funds ($2,500 minimum) are pooled with other gifts and invested in a professionally managed investment portfolio. You receive a guaranteed income for life. The amount of the income depends on the rate of return on the fund’s investments. You will receive an immediate federal income tax deduction.
Charitable Gift Annuities are similar to that of the Pooled Income Fund with the following differences: The minimum gift is $5,000. The income for life is guaranteed at a fixed amount. A portion of the gift is deductible. A portion of the income received is tax-exempt.
Charitable Remainder Trusts are available using assets of $250,000 or more. The trust can be funded with various types of assets, including real estate. It provides income for life, an income tax deduction, relief from capital gains taxes (if funded through appreciated property), and a possible reduction in estate taxes. The income fluctuates based on the performance of the portfolio.
To learn more about life income gifts, click on the topic below. You will be redirected to the Episcopal Church Foundation’s site for informational booklets. If you are interested in making a life income gift, please email the Funding Future Ministry committee for assistance
To learn more about the Pooled Income Fund, click here.
To learn more about Charitable Gift Annuities, click here.
To learn about Charitable Remainder Trusts, click here.
Prospective donors are strongly urged to consult with their own legal, financial,
and/or tax advisor regarding the tax advantages of planned giving.
This information is for educational use and not intended to be financial, tax,
or legal advice and should not be relied on as such.