The Charitable Gift Annuity | The Institute for Creation Research
 
The Charitable Gift Annuity
 

Part of our responsibility as "Stewards" (I Corinthians 4:2) is to be faithful with the financial assets that the Lord has allowed us to use. Normally, the more secure an instrument is, the lower the return; but to get a higher yield, the trade-off is usually higher risk. One privilege available to us that enables us to increase return and maintain security is the Charitable Gift Annuity. Fortunately we live in a country that encourages charitable giving.

This flexible Gift Annuity is very attractive:

  • A guaranteed, nonfluctuating income for life.
  • Usually, a greater return than is currently available on savings or securities.
  • Substantial income tax savings.
  • Possible savings on capital gains taxes and gift and estate taxes.
  • The option of having another beneficiary receive the annuity for life as your survivor.
  • The pleasure of knowing that your gift will ultimately serve and benefit the Lord's Kingdom.

Here's a recent example: a retired couple (he is 78 and she is 75) had 0,000 in a low interest security. By purchasing a two-life Gift Annuity with ICR, they will receive ,800 annually (considerably more than current interest rates) for the remainder of both of their lives. ,350 of that is tax free each year, and they qualify for a ,856 charitable deduction for 2002. The expected dollar payout to the couple will likely exceed the 0,000—not including savings from the tax deduction and the on-going tax free income portion.

They are pleased with the increase in income and delighted that they can assist ICR in the process. This way we are both able to "serve one another" as required by the Lord (Galatians 5:13).

Cite this article: Henry M. Morris III, D.Min. 2002. The Charitable Gift Annuity. Acts & Facts. 31 (9).

The Latest
NEWS
Dolphins Learn Tricks from Peers to Catch Fish
Dolphins—like other cetaceans such as whales, wholphins, and porpoises—are highly intelligent marine mammals, capable of astonishing feats....

NEWS
Liberty and the Word of God
“And I will walk at liberty: for I seek thy precepts” (Psalm 119:45). July 4th is called Independence Day here in our country because on...

NEWS
Wandering Albatross: Wide Wings on the Winds
Wandering albatrosses have the largest wingspan of any living bird, so they live much of life soaring above the oceans. With their wings—and a lot...

NEWS
Inside July 2020 Acts & Facts
Where can we find hope during times of waiting? How has ICR reached a new global audience? How does evolution conflict with the Bible's teaching...

NEWS
Soft Dinosaur Eggs Deflate Bird-Dinosaur Evolution
A pair of new studies found that some dinosaurs, and possibly some marine reptiles, laid squishy eggs. One study discovered that many dinosaurs, like turtles...

ACTS & FACTS
Encouraging Notes During the Storm
Without a doubt, the global spread of COVID-19 has forced most of us to make major adjustments to our daily routines. Whether the stay-at-home mandates...

APOLOGETICS
God's Grassroots Provision
In times of calamity and crisis, it’s easy to question whether life makes sense—or, more accurately, how God is making ultimate sense of...

ACTS & FACTS
Why Do I Believe in Recent Creation?
A student recently asked what I believe about the age of the earth. I replied that at one time I felt absolutely certain that the world was billions...

ACTS & FACTS
Walton's Cosmic Temple Is a House of Cards
A series of books and videos by Dr. John Walton, an Old Testament theologian at Wheaton College, has made a huge splash in the evangelical community...

ACTS & FACTS
Evolution's Death Versus Jesus' Death
Cancer took the life of both my dad and a friend in the last several months. Death certainly injects misery into the joys of life. I know we must die,...